Worldwide, the hair and beauty business has grown exponentially over the last few years. Big name beauty brands such as Glossier and Fenty Beauty have grown into billion-dollar businesses through diverse product lines and clever marketing tactics.
Pre-pandemic, there was a surge of beauty businesses opening around the country. While many colleges and other institutions like the London School of Make Up seeing an increase in applications a for hair and beauty courses.
Of course, the Covid-19 pandemic has forced many businesses to close over the last year, whether permanent or temporarily. Many hair and beauty industry workers are self-employed too, which has led to some not receiving the government support they need.
With the news of approved vaccines here in the UK, the beauty business is looking forward to opening once more. Hair stylists and beauty specialists will have to face a new way of working post-pandemic though.
If you are considering going solo with your beauty business soon, check out or list of what to consider when you do.
Whether you trade as a limited company or sole trader, it is important to have a solid business plan in place. Cover everything from the services you will offer, upfront and running costs, marketing and the legal requirements you need to fulfil.
If you are attempting to get a business loan, it is essential that you have a tight business plan and pitch in place ahead of the meeting.
It makes no difference if you are doing hair styling at people’s homes or applying gel polish manicures, you will be conducting business from somewhere. Decide where right from the start.
Finding new premises in popular locations to attract clients or near existing client bases can be expensive for new businesses. However, you could start as a remote or “mobile” service and build a client list before opening a permanent location.
While there are no formal bodies that regulate the beauty industry in the UK, it is important to understand rules and regulations about working environments. Everyone on your team must undergo workplace health and safety training as standard.
For most business types, liability insurance is legally required. Liability insurance protects you in event of injuries etc to your clients during their treatments and can save you thousands of pounds in legal fees should you ever need it.
Marketing your business is essential for attracting new clients. Social media platforms are a great tool for new businesses, but there are costs involved in running ads or having business pages, so factor this in when making your business plan.