Owning a beauty business is never a walk in the park, even if it’s more attractive than other sectors. From afar, it seems relatively simple – make people feel and look their best, using your skills to deliver services in their home or your salon.
Yet the reality is different: just as in other businesses, there are several, big overheads to cover as we move forward. Unless addressed in the right way, these headline costs can significantly reduce the earning potential of any budding business owner.
So, we’d like to share some tips on how to tackle overheads in the health and beauty industry, to help you avoid a financial crunch.
Consider a chair rental scheme
Many beauty professionals dream of opening their own salon. Yet the rents for these places can skyrocket; good locations might be well outside of your price range, whether you’re looking for a resale or totally new development.
Instead, consider seeking a room or ‘chair rental’ agreement in the early days, whereby a salon owner takes a cut of your income (around 50% is common) for the use of their facilities. You can scale up, if required, for staff that fall under your beauty brand.
Get savvy with inventories
The beauty industry relies on a lot of lotions and potions, which makes it crucial to keep waste to a minimum if you’re going to protect your profit margins. We’re talking about hair spray, wax, mousses, shampoo and anything else held in a tub, tube or can.
To ensure they aren’t added to the waste pile, have a clearly labelled storage system – drawers, boxes etc. Then log each instance of the product running dry; it’ll show you which are the most cost-effective, as well as stopping the premature loss of any containers.
When stocking up, consider how you can consolidate your orders with one or two dedicated suppliers. This will enable you to build relationships with trusted partners, who may be willing to offer discounts based on volume or loyalty…
Find a flexible, trustworthy beauty uniforms partner
Beauty experts should never have to compromise on their own appearance. However, uniform costs can soon add up, whether you’re a self-employed professional or have several salons under your belt.
This is where quality really counts; beauty uniforms should stay crisp, gorgeous and hardwearing over the years. What’s the point in buying an outfit that’ll degrade in a few months’ time?
You can rely on La Beeby for affordable uniform that combines style with quality, from salon tunics, to hairdresser trousers, to spa workwear. Plus, we’re often able to offer discounts for clients ordering in bulk… Just contact our sales team with your request to see what we can do.
We can’t overstate how subtle your financial management must become, if you’re going to truly succeed in the beauty industry. It all starts with finding the right suppliers… Visit the La Beeby catalogue to tackle at least one of your overheads, or get in touch with us for more tips and advice.