Beauty Therapy Business Plan

Beauty Therapy Business Plan-9
• Create a business plan and stick to it.• Sort out your finances, including a business bank account.• Decide on your business set up: Sole trader? • Recruit the right team.• Don’t forget business insurance.• Choose a good name for your business.• Decide on your services and prices.• Keep an eye on the competition.• Use advertising and social media to attract more clients.• Join the NHF/NBF for fantastic business support.The NHF/NBF works in partnership with Coversure Insurance Services, one of the UK's leading independent brokers, to offer Members comprehensive cover specifically designed for hair/beauty salons and barbershops.A name that starts with one of the first letters in the alphabet means it will be listed higher in directories.

• Create a business plan and stick to it.• Sort out your finances, including a business bank account.• Decide on your business set up: Sole trader? • Recruit the right team.• Don’t forget business insurance.• Choose a good name for your business.• Decide on your services and prices.• Keep an eye on the competition.• Use advertising and social media to attract more clients.• Join the NHF/NBF for fantastic business support.

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How to Identify Goals for a Beauty Salon Business Plan.

Attracting clients for hair-stylists challenges even the most astute business owners.

Consider what types of payment you will take (cash, debit cards, credit cards? Consider employing an accountant – they can be invaluable. Your accountant will save you money in the long run – but don’t be afraid to change your accountant if you don’t get on with them.” Will you be a sole trader, limited company or partnership?

Set up a cash book for daily income and expenditure so you have an accurate record of incomings and outgoings. It is straightforward to set up as a sole trader, but you will be personally responsible for your business debts.

Are you going to stock retail items or provide services only? This may be newspapers, leaflet drops, parish magazines, Facebook, Twitter, and Instagram, as well as website/internet publicity, posters and leaflets in local shops. Create a striking logo to help build your brand with distinctive colours and fonts.

Retailing will boost your turnover, but is of course ‘dead’ money, as you have to buy stock up front. The experience you offer your clients once they come through the door is also a key part of your unique branding.A good front of house is a hugely important role and can help make your business a huge success.” Find out how to recruit the right team.It is vital to have proper insurance in place to protect your clients, your employees, yourself and your business.You can do this very quickly on the Companies House website.It’s a good idea to make your company name quirky and memorable.First, you need a business plan; it is pointless trying to set up a salon or barbershop business without spending time on the planning.You’ll need a plan for the immediate setting up, then for the first year, the first three years and the first five years.Will you specialise to make your business stand out from the crowd?Or will you offer a wide range of services, treatments and retail products? Check out your competitors to see what services they are offering, and collect price lists from local salons or barbershops. Newspapers, leaflets, local magazines, social media? Make sure you have a marketing plan for the first 12 months and review it for the following year to see what worked and what didn’t.Your business plan needs to be thorough and should be reviewed annually.A business plan is essential if you need to borrow money, but is also a great reminder of your goals and of how much you have achieved so far.

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