With a bit of planning and some wise tips you can start being the boss of your own salon in no time. Now’s the time to make it happen.
What’s your why?
Before you start picking up the brushes, take a moment to really consider your ‘why’. Why do you want to start your own business? Is it the freedom of being your own boss and having a flexible work-life balance? Or maybe there’s a niche in the market you’re passionate to explore. Whatever it is that drives you, when you identify your why, write it down. It will be something you can reflect upon on those days when you may be feeling unfocused and need a reminder of why you started your business. Having a clear idea of the kind of salon you want and its direction, will help when it comes to making big business decisions. It’s also a foundation for creating a passionate business that’s driven to succeed.
Get your business going
Now that you’ve established your motivation for getting into business, it’s time to put the gears into motion. The beauty industry offers the opportunity to structure your business in a way that is going to work best for you.
When you are researching different structures, keep in mind the following:
• Where will you operate your business from? Beauty professionals often lease a space to establish their salon or set up a salon at home. There’s also the option to get out on the road and operate as a mobile business.
• What kind of assets do you need? Chances are you’ve got a fair bit in your kit already, but take the time to assess what new tools of the trade you may need to get the job done. Think chairs, specialised equipment and even robes for example.
• Have you set up your business banking? Make sure you have things like your business account, online payment systems and devices all set up so you can hit the ground running from the very first customer. Making it real Once you’ve got the tools in place to start running your business, it’s time to make it official, an exciting stage of your business adventure.
Some of these tasks will include:
• Registering your business name with ASIC. This is a pretty simple process which is done via the ASIC website. It’s easy to use and provides all the resources you need to know and have ready before registering your business name.
• Get your Australian Business Number (ABN). Your ABN is your business’ unique 11 digit number that is used to help identify your business to the government. You can access more information and start the process of registering for your ABN on the Australian Business Register website.
• Protect your trademark. Another thing you may need to consider registering are trademarks for your business’ name, brand or logo. This helps to keep it unique and from being copied by another business.
• Set up a business website. Having an online presence for your business is a vital channel to connect with your customers by letting them know you’re open for business. There are many different website options available, with different degrees of difficulty to set up and pricing. A few popular website options include WiX, WordPress, Google My Business and GoDaddy
Marketing magic
After putting in all that effort to establish your business, it’s time to create a marketing plan to drive your clients through the door. When it comes to marketing this may be an area of your business that you will outsource and get external assistance with or something you will manage yourself.
If you decide to take on your own marketing, there’s plenty of resources to help. Why not start with some online marketing tutorials? Online classes from sites like Skillshare, Google and Udemy can support with all aspects of marketing your business.
Time is precious when running your own business and that’s why it pays to make apps your best friend. From helping schedule social media posts to creating sleek graphic designs, there is pretty much an app for everything when it comes marketing. A few good ones to begin with are Canva, Hootsuite, Facebook Ads Manager and Google Analytics.
An essential part of successful marketing is being active on social media. Consistently posting and interacting helps build your business’ online presence, attracting more clients and connecting with others within the beauty industry.
Insure your business
You’ve invested time and money into making your beauty business dream come to life, so it makes sense to protect it. Take some time to assess the different kinds of risks your business is exposed to and what assets your business couldn’t afford to be without. There are many different types of business insurance* available, but you don’t necessarily need every coverage for your business.
Here’s a few different types of business insurances you may need to consider:
Professional Indemnity
Being a beauty professional, you are an expert when it comes to making your clients look and feel amazing. From giving advice to providing treatments, your clients expect the best- so when things don’t go to plan you may be faced with some unexpected challenges. Professional Indemnity insurance is designed to protect your business from losses claims made against you arising from actual or alleged negligence or omissions in the provision of your professional service or advice. Professional Indemnity Insurance will also assist with the legal costs associated with responding to or managing claims which are covered by your policy.
Public Liability Insurance
Working closely with clients whether at your own salon or as a mobile business means there’s a risk for things to go wrong. Slips, trips, mishaps caused by chemicals, hot wax, scissors, razors, electrical equipment are some of the unfortunate accidents which could cause havoc for your business. That’s where Public Liability insurance comes into play.
Public Liability insurance is designed to provide protection for you and your hair and beauty business in the event a customer, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities.
Business Insurance
To keep your business going, you rely on things like your stock, your equipment, salon contents and your commercial premises. This is where Business Insurance can provide peace of mind. Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A
Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to a business interruption in specified circumstances.
Having a solid insurance plan should be a priority for every salon owner, regardless of the size of your business. The last thing you need is an incident to cause your business to go into turmoil, potentially causing you to go out of business due to financial and damage to your reputation.
Jane Mason is the Product & Channel Manager at BizCover, Australia’s leading online insurance service provider. www.bizcover.com.au
This article originally appeared in the July-August 2021 issue of Professional Beauty Magazine.
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