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The beauty industry is thriving and is one of the industries that has continued to grow and thrive despite the global pandemic that has decimated many small businesses worldwide. Despite the industry being regarded as somewhat of a safe bet when it comes to small business ventures, there are still plenty of salons that fail to thrive and, as such, end up closing down despite an increase in demand for it.
How can a new beauty salon thrive and go the distance?
Training
As a beauty therapist, you need to make sure you have all the relevant credentials and experience to confidently and competently provide an excellent standard of care and quality treatment to your clients. If a client is unsatisfied with your work, chances are they won’t come back. So you need to make sure everyone you employ to carry out beauty treatments is qualified and can provide proof of training and experience.
Health and Safety
With the potential for things to go wrong and cross-contamination in beauty salons due to the nature of the treatments provided, make sure you follow the latest health and safety practices outlined by OSHA and any requirements stipulated by your local state or county. Following them stringently will help you to avoid any problems or accidents due to negligence.
Taxes
Registering as a small business owner means that you need to be registered to pay local, state, and federal taxes as an employer. Hiring an accountant can help you to stay on top of your tax obligations and help you avoid any huge tax demands further down the line. Paying the right taxes from the beginning will help you to manage your profits and keep your salon open longer.
Insurance
Don’t be tempted to cut corners and not have the appropriate insurances for your beauty salon. You need employer liability cover, public liability cover, commercial property insurance, and worker’s compensation insurance. Your insurance premiums will cover any accidents or claims made against you by staff or clients and, as such, will help you avoid a big payout that could cause you to close your salon. Add an extra level of protection to your salon by adding consent forms for specific procedures such as a Microdermabrasion Consent Form.
Don’t Cut Corners
If the business is getting tough, it can be tempting to cut corners on certain aspects of your business. However, to maximize the integrity of the service you provide, avoiding this will ensure your clients get the best service you can provide using the right tools for the job. You need to address your pricing structure of refinancing parts of the business to help you cover any rough patches you are experiencing. But try to avoid compromising on what you offer, as once your clients realize standards have changed, they may well choose to find a new beauty salon to meet their needs at a standard they expect.
Making sure you are offering the best service possible for your clients and keeping on top of your finances are the building blocks to creating a successful small salon business and giving you the best chance to make sure your new venture goes the distance.
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