The first thing we have to do is see how “Beauty” is positioned in the market.
Don’t be scared, you don’t have to do a market study like big companies. Not yet! I just invite you to take a look to see if at first glance your business is likely to bear fruit.
So here what we will do is nothing deep or complicated, just estimate the success rate!
Well, Inegi tells us, for example, that 8.2% of Mexican household spending is destined for personal care, that is, “Beauty.”
In the same way, he shares that the beauty industry grows every year by 10%.
Advice On The First Step To Set Up A Beauty Salon
Study the market in the specific place where you are going to set up your beauty salon. It may be very convenient in a locality in your country, but it turns out where you want to set up your business? No!
You can survey your locality.
The important thing here is to know how many people would be potential visitors to your beauty salon and how much they would be willing to spend.
Forget it! it is easier for you to go to another location to set up your beauty salon. Well, it is necessary to have an audience that needs our products and is willing to pay for them.
The statistics regarding beauty at a general level are very good. It’s time to study more specifically in your area!
Some Questions That Help You Answer If You Should Start A Beauty Salon:
Do you go to get your nails done frequently? How often?
What would a beauty salon have to have for you to visit?
You don’t like something about beauty salons?
What prevents you from visiting a beauty salon?
Are you interested in some kind of treatment for your hair?
How many times a month/year do you get a manicure and/or pedicure?
How truthful are questions that tell us how often people need our services? Besides, questions 4, 5, and 6 are a platform to start setting up our beauty salon, so we will consider what to put on or what to take off!
So step 1, take a sheet and paper (or a computer), and go out to meet your audience.
Advice for those who have already set up a beauty salon
There are two types of entrepreneurs. Those who undertake something that they like to do, and will even work on their business, and those who just like to be in charge and manage.
Both are good, however, this step is important for you even if you do not have in mind to start drying hair, applying makeup, etc. What do I mean?
Because the team that works in your beauty salon must be trained to be “The best” doing what they are going to do.
You likely have a team of fully trained professionals.
If you know a very successful beauty salon, go to it and see what good you can get. Maybe they have different techniques and very effective ways of working that neither you nor your employees know about. Most of them will be willing to teach you in exchange for payment!
The Marketing Plan
The marketing plan contains the guts of how you will make your salon a viable business, how you will find and keep customers, how competitive the market is, what is the health of the industry, and what is the growth potential.
The documents must include demographic studies (this information can be obtained from your local chamber of commerce or INEGI), and market data.
You should research at least two or three previous years of statistics to realize the health of the industry and its growth in each of the areas.