If you’re looking to invest in or start a business in the beauty industry then you can never go wrong – limitless prospects exist there. One niche you can carve out for yourself is the manicure/pedicure market. These beauty services are highly sought after across all age groups. You need only get into the CBDs and see the ubiquitous presence of manicure/pedicure business service providers. This is indicative of not only the high demand for the services but is also reflective how fierce the competition is. This article is going to help you with important information on how to set up this type of business.
Approaches
As evidenced in my opening remarks, it’s wise to combine both manicure and pedicure. One other thing to incorporate is the vending of associated beauty products to widen your revenue bracket. This type of business you can comfortably run solo – this is essential in aiming to keep overheads costs at bay. I’m not, however, discouraging you from starting off big with staff and the like. Funds permitting you can start on whichever scale you wish. I’m cognizant of the financial constraints that hold most people back; that’s why I’m advising on starting off solo. The most strategic and cost-effective approach is to rent out a working space in an already established beauty business location e.g. a hair salon. This will eliminate the costly and tasking need for extensive marketing and brand awareness. Manicures/pedicures are complimentary features that any salon client would most likely need. In order to maximize revenue also include room for on-call services, where people can call you up to do their manicures or pedicures in situ. You can also create exclusive packages where you target high-end clients such as celebrities or exclusive events such as weddings. You can even diversify into offering training services physically or online. The approaches are so many; it only takes your creativity and innovation.
Key Requirements
There are numerous working tools you’ll need but most of them are quite affordable and last long. Before I get into that let me emphasise the critical importance of having a social media presence to market your business. You must also come up with enterprising ways of encouraging raving reviews and referrals for your business. This is a highly competitive business domain and requires you to take advantage of digital online marketing. Some of the working tools you’ll need are nail polishes, nail polish removers, solvents, clippers, files, tips, bowels, moisturizers, towels, nail dryers, glue, specialized scissors, brushes, lamps, detergents, buffers, tables, chairs and so on. Like I said the working tools are numerous; you must ensure you have enough of them to provide complete and satisfactory client service. Some of the equipment is now available in the high-tech form, for instance, specialized dryers. If you can get hold of high-tech equipment that can allure prospective clients more – just a tip to increase your value proposition.
Human Resources
So I sort of pre-empted that early on – riding solo can be most rewarding. However, if you can secure funding and ensure high client volumes, you can still realize huge ROIs by starting off big. Having a staff would obviously entail paying them based on commission so as to drive client sign-ups. Overall, keeping the staff lean or riding solo is what most do and is more manageable especially considering the low overheads costs.
Capital
If you’re to employ the riding solo approach the most significant startup costs will be for the working equipment. I usually encourage finding a way of starting with lean costs and then scaling up as the business grows. Starting with lean costs is quite possible in this type of business. The other way of minimizing startup capital needs is by renting out working space at other established beauty businesses.
Market
The market is quite large but as I alluded to earlier, there is fierce competition. So I’ll never discourage you by saying the market is flooded – no! Think of it as just a highly competitive market; this means you can still command a significant portion of it if you’re smart enough. Your customer service will have to be top-notch so as to promote loyalty and encourage referrals. Running promotions and specials will also help you in edging off competition. Again, invest time, effort and resources in having active and engaging marketing campaigns – especially on social media.
Regulation
Regulation is hardly an issue, especially when renting out working space. It’s important however as I always encourage, that you must register your business. Having that formal setup will boost your brand image and you’ll be taken seriously by other service providers and clients as well. When renting out working space I advise you to have documented mutual agreements with the host business or building owners – it might save the day someday.
I have repeatedly underscored the importance of marketing plus I’ve also pointed out the importance of exceptional customer service. The other crucial aspect is hygiene; please ensure your standards of cleanliness are top-tier. I’m referring to both you as an individual and the whole client handling process – be uncompromisingly hygienic! If you are wondering how you can learn how to do manicure/pedicure, you might not necessarily have to go to school as that can be costly. You can find other established manicurists and understudy; you can quickly master the art of the trade that way.
