Beauty and cosmetic procedures industry is big business today and billions of dollars are being invested by major companies in this field towards new and novel technological innovations. It is therefore small wonder that a large number of start-ups are in this sector and most of them become profit generating entities in the shortest possible time. However, this is only true if they follow specific guidelines which are unique and exclusive to this business.
As a new entrant in the business of skin care what are the steps you should take to be a success.
- Have a business plan in place – Like any other business, you should have a plan in place. This will include your financial outlay, future marketing strategies, innovative processes to be introduced and equipment to start off with. You should also carry out a study of potential competitors operating in your area to know what has made them successful. If you feel that structuring such a plan is beyond your capability, hire an experienced business consultant who will help you out in this regard.
- Choose a good location – This of course is a misnomer – a location is only as good as the number of clients it helps attracts. A clinic in a supposedly ideal location can be a disaster due to low quality customer service. This is of course exception to the rule. Choose a location that is easily accessible from the main road, has adequate parking space and has a wide frontage for glow signs. If you want to have your clinic in a residential neighbourhood, ensure that your clinic is not hidden behind too many trees and landscaped gardens.
- Decide on the scale of operations – Start small and gradually build your business as you go along and profits start rolling in. Subsequent investments after the initial outlay should be from the proceeds of income, not borrowings as the interest burden will be a limiting factor in business expansion at a later stage. Limit expenses but do not compromise on the quality or variety of services. For example, for your main activity of skin rejuvenation and permanent hair removal look for a used Universal IPL in good condition or leased equipment at monthly charges instead of an outright purchase. The capital saved can be used for interior decoration and other core activities.
- Fix the services to be offered – There are almost limitless different processes for skin care and at the start you should pick on those that are popular and yet requires low investments in equipment. List out the services you think are crucial for a skin care clinic and proceed accordingly. Installing a microdermabrasion machine for skin rejuvenation treatments is almost mandatory as is IPL and laser equipment. Tattoo removal is the latest craze and you should make provision for it too. You can begin with the smaller size versions of these devices and update them as business picks up.
- Hire experienced and expert professionals – Compromising on this point can set you back and be the primary difference between failure and success of your clinic. Hire the best skin care medics and professionals and the resultant benchmarks of excellence you achieve in customer service will help to quickly establish your business as a leading specialist in your location.
These are some tips for a skin care business start-up. Work out marketing strategies through the many social media platforms and if necessary contact an online digital marketing agency to carry out a highly optimised campaign for you.
Other operational aspects may be incorporated gradually as your business flourishes over time.