Hair and beauty will never go out of fashion. If you’re thinking about starting a new beauty business, and if you are passionate about hair and beauty, now might be the best time to take the leap.
Writing a business plan is the first step to beginning your journey of starting a new beauty business.
Setting up a company and new business can be challenging. If you follow the right steps from start to finish to help you develop the thought into an idea, the rewards of running your own business are limitless.
Make a Business Plan
Making a business plan isn’t easy, but nobody said starting a company would be a walk in the park. There are a lot of loose ends to tie up before you can be sure that your business plan stands a chance of working.
Write down where you want to be at the end of year one. Consider what you’d like to have achieved by the end of year five. Now think about whether your plan is doable.
Make the necessary adjustments and map out exactly how you will get from a standing start to the finish line. Involve every step of foreseeable decision making. Don’t go easy on yourself. Be honest about what is within reach and where you may need extra help.
Finances
The first step now is to consider financing your business. Even if you have savings that you are willing to invest, the overheads can mount up.
Always make sure you have funding in place before you start a business that you cannot afford to run. However, you can find help with business financing, through many different forms – start at Qantas business loans to get some ideas.
The Australian government also provides many great services to help you start your business, from start up to already launched businesses, you can enrol into the NEIS program, which is a government program designed to provide some financial support, including a business coach, to help you bring your vision to a reality.
Choosing the Right Staff
People remember how you made them feel. From a warm welcome to a personable attitude throughout, your staff are your ambassadors. Make sure that you don’t hire friends and family based on their relationship with you.
Only choose trained staff with experience and a clear desire for career progression under your leadership.
Clawing back a damaged reputation caused by unruly staff can be difficult. It’s much easier to hire the right team in the first place.
Research the Competition – Can You Compete?
Your competition is already active in the market. That means that they already have the inside track on client needs. Use this opportunity to your advantage by assessing what your competition is doing.
If you don’t see your competition offering services that you would expect, there may be a reason. Analysing what is already attracting crowds to your competition is free. If you can offer a quality service at the right price, you may be the competition that your peers didn’t want to see!
Australian Government Business Support – COVID 19
The current state of world economic affairs is bleak for some business owners. The sudden onset of COVID 19 has led to uncertainty across the global jobs market, with small business owners being affected. However, if you believe you have the right business plan in place, you may wish to go ahead with your hair and beauty company.
For further information on how COVID 19 may affect your business, always keep up to date with recent government advice. For example, click the link for more information on current COVID business support.
