6 Tips To Starting Your Own Beauty Business
Setting up your own beauty business is definitely an exciting prospect. Not only do you get to do what you love on your own terms, but you will also have several financial and lifestyle benefits that you can’t get working on a wage or a salary for someone else.
Deciding to take the plunge and start your own business can be a leap of faith, and if it’s your first time round the block, there may be some potential challenges you haven’t thought about.
However, the great news is that with the answers to everything you need to know literally at your fingertips, setting up your own side-hustle or beauty business - whether it be from home or from a shopfront - has never been easier!
Here are 6 things you need to consider when you want to set up your own beauty business:
#1 Business structure
I know, I know,… boring stuff for sure, but skipping the groundwork will undoubtedly lead to problems down the track. Setting your business structure up correctly from the get-go means you can then focus on doing what you love, knowing you're on a solid foundation.
Deciding if you are going to set up as a Sole Trader, Partnership, Company or Trust is an important decision that will affect the operation of your business, particularly liability and tax consequences. Starting out as a sole trader is the simplest and cheapest business structure, and perfect if you are looking to offer beauty services from home or work by yourself from a shopfront.
Check out the Australian Taxation Office website (or similar for your country) for more information on the various business structures and how to choose the best one for your business.
#2 Insurance
You’ll also want to make sure you have some good insurance that not only covers your home salon or shopfront for burglary or damage, but also covers you for professional and public liability.
Having indemnity and liability cover means that you are protected in the event that a client makes a claim against you or your business as a result of a negligent act while providing the service, or if someone accidentally hurts themselves while on your premises.
There are many companies that offer beauty and hair specific insurance policies, but navigating the information can be daunting. If you are unsure where to begin, start by contacting your national beauty associations for advice and guidance. In Australia, the Aesthetics Practitioners Advisory Network - APAN, has a bunch of resources that can help you get started.
#3 Legal Requirements
Regardless of whether you are working from home or a shopfront, offering services like eyelash extensions, body waxing, facials and even eyebrow services may require you to have local council licences or permits.
In Queensland, Australia, for example, you’ll need a High Risk Personal Service Licence when ‘skin penetration’ services such as cosmetic tattooing, microblading and body piercing are being performed. And, getting a HRPS licence may require you to have local council planning approval as well as comply with local health department infection control guidelines.
Be sure to visit your state's local council website for information relevant to your area.
#4 Equipment
It’s a given that the products and equipment you will need for your beauty business will be determined by the services you offer and the size of your set-up. Stocking up on the products and equipment you will need can be a big investment at first, but choose wisely, and you will be quickly reaping the rewards.
For example, if skin treatments will be part of your service menu, then choosing a multimode facial system that offers a variety of treatment options is a smart way to save both money and space!
Not only that, most reputable beauty equipment suppliers will include in-depth training, warranty and ongoing support in the price, saving you even more money and time outsourcing quality training.
#5 Professional Beauty Products and Skincare
And when it comes to professional skincare and retail products, looking for companies that offer small opening orders and no lock in contracts will ensure your start-up cash is kept in your pocket and not sitting on the shelves.
Well know skincare companies such as ASI - Australian Skin Institute will often offer flexible, star-up friendly, partner programs for stockist looking for a turn-key option that includes in-depth product training and professional in-clinic treatment protocols that takes the stress out of starting new.
#6 Training and Development
From eyelash extensions to body waxing, professional skin peels and even microblading to name a few; if you are not sure which beauty treatments to add to your service menu, check out the Skin & Beauty Training Centre’s list of face-to-face and online courses for a guide to the most in-demand beauty services in 2021.
Think about what your niche market or what you would like your speciality to be, and start by training in just one or two services that will help you build a loyal client base for that speciality.
Maybe you have a passion for beautiful eyebrows, and who doesn’t want perfect brows these days… well that’s both your niche and your speciality, so consider starting with a HD Brow Course, Brow Lamination or Brow Feathering Course in order to build a loyal client base.
In time, as your business grows, you can then gradually add other complementary services such as Lash Extensions, Lash Lifting and Spray Tanning; keeping your menu constantly fresh and exciting for you and your customers.