Ever dreamed of owning your own beauty & wellness business? Be it crafting your own cosmetic line or owning a salon, Vaniday is here to help simplify the process for you with these 8 steps:
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Do your research
Don’t just jump straight into the market without any prior research. Understand the market and your barriers to entry, analyse your competitors and their offerings. Look out trends, picking out what has worked and what hasn’t. From there, think about how you plan to enter the market, calculate financial costs and consider an exit strategy. This may be a time-consuming first step, but proper planning before making any decisions will save a lot of money and time in the long-run.
Find your niche in the market
Building on the first point, conducting market research means finding gaps in the market. With over 18,000 business in the beauty & wellness industry, finding your niche may be difficult. It could come in the form of a tailored skin care approach, or a new product that the market is lacking. It doesn’t have to be entirely new, but make sure it is something that you are good at, and build on it! For beauty & wellness leaders such as The TCM Chef and Chantelle Ng, this is exactly what they did!
Identify your target market
Before you craft your brand, think about who your brand is intended for. Practicing segregation helps you better understand your target market, and then tailor your products to their preferences and needs. When customers feel that a product is personalised, they are more likely to respond positively to it.
Choosing the right products
Working together with reputable brands can help boost reliability and confidence in your brand. For example, many salons use brands such as Dermalogica or Guinot, well-known skincare products in the aesthetics treatment world, for their services. If you’re building your own cosmetics line, take careful note of the ingredients you’re using! Opting for high-quality ingredients and products can be used as a seal of confidence that only the best is being used for customers’ skin!
Test your service or product
Before you launch, make sure to thoroughly test your product or service to ensure that it is up to standard. Obtain the necessary certifications from HSA, and make sure it complies with all regulations. No one wants to have any adverse reactions or less-than-satisfactory treatments. Word-of-mouth is one of the most powerful (and free!) forms of advertisement for your brand. Building up a bad reputation can be especially damaging to both new and established brands.
Set up a website
Having a user-friendly website that contains listings of your services and products, as well as prices, can help consumers make a decision. A lack of available information is often off-putting. As a result, it can deter potential customers! However, by having such information readily available, it adds reputability to your brand.
Get your product out there
Now that all the nitty-gritty has been done, it’s time to build a following! There’s no point in having a great product if no one knows about it. With people spending more and more time on their smartphones and devices, listing your product on platforms like Vaniday help your products and service reach a large pool of people, and help you connect with potential clients!
Follow the rules
Be it a fully-fledged salon or a home-based studio, make sure you adhere to the rules! According to HDB, home-based business are allowed as long as they don’t cause disturbances. Be mindful that you’re not allowed to advertise your services, be it physical or digital forms of advertisement, though. Massage parlours also require a police license before they are allowed to operate! Remember to read through the rules thoroughly, and apply for any permits or licenses well in advance.
With that, you’re ready to embark on your new journey as a business owner!
With My.Vaniday, Vaniday‘s state-of-the-art salon management software, managing your daily operations will be simplified. Our business users love the scheduling & team management features, automated appointment reminders, and point-of-sales feature. List on Vaniday today, fill your calendars, and gain access to hundred of new clients!
