Risk analysis and the prospects of opening a beauty salon

Risk analysis and the prospects of opening a beauty salon

Before financing a business project for opening a beauty salon need to carefully analyze all risk factors, and the ability to successfully conduct this type of business.

Collection of preliminary data for analysis

Initially, the location data should be clarified, in which the opening of the salon is planned. Namely: in which the village is seen opening, What is the size and population of the item, presence and elaborate infrastructure, including proximity organizations, which are direct competitors.

Further study of the planned subject list of beauty services provided in the cabin. This list should be clarified, what services are planned in addition to providing direct hairdressers, and what is the estimated cost of. These services can be:

  • hair extension, lashes and nails;
  • Traditional and hardware cosmetology;
  • manicure and pedicure;
  • body treatments, and much more.

Followed by a mark, on what the client base (in sex and age ratio) orients the salon. According to such a request is determined by the age and sex of the majority of potential customers, as well as their financial capacity.

На фото показано 4 посадочных места в салоне красоты.
The photo shows 4 seats in the beauty salon.

Formation of marketing tasks

Based on the data, received in response to identified needs, made formation of the main marketing objectives, by which this commercial project is able to develop more successful. To those objectives include:

  1. Bringing the services rendered to the uniqueness, and a corresponding suppression of competitors.
  2. Shaping the future customer base, material support which corresponds to the expected price pricelist.
  3. Active advertising campaign and effective marketing strategy.
  4. Increase project profitability by expanding the list of services.

In this case, the advertising company is opening a beauty salon must be carefully considered, it must be marked milestones and performance tools. The number of required steps include:

  1. Engaging residents located near residential complexes for the opening of the salon. This step is being implemented by placing near the beauty of objects of the outdoor advertising (stretch Marks, banners, citylights, etc.).
  2. Formation of a permanent clientele through the introduction of the discount and the discount system for regular customers.
  3. Active announcing the upcoming opening of the Internet, Creating your own website and advertising promotion on other sites. These activities are aimed at attracting customers from other housing estates and districts.
  4. Placement of advertising products support the effect of the media means, aimed at a female audience (glossy magazines), as well as the distribution of printed advertising materials (booklets, leaflets, brochures).
  5. Attracting customers with a lower level of income (students, retirees, housewives) by the introduction of discounts for services at certain times of the day.
  6. Relief payment system for customers by connecting a bank terminal for credit card payment services.
Implementation of the risk analysis and the prospects of opening a beauty salon development
Implementation of the risk analysis and the prospects of opening a beauty salon development

Common cost allocation errors

The analysis of risks and opportunities of opening a beauty salon, and comparing the planned advertising and marketing strategy with a preliminary estimate of the project, can reveal one of the most common mistakes in this process - improper correlation upcoming promotional events and dedicated to this Finance. For example, traditional allocation of share of costs (on advertising - 1%, on the administrative part - 3%) not quite right, since one per cent increase, referred to for purposes of advertising, not enough for a successful business promotion.

Potential and prospects of the development of business in the beauty industry

The general environment in the beauty industry in Russia is under active development, opens new beauty salons, expanding the list of services, there are new trends and increase the development potential of the business. In this regard, the development of this business area in the framework of economic analysis can highlight certain advantages, consisting of the following:

  • Service Delivery Area, associated with an increase in physical beauty and attractiveness in a state of continuous development and expansion opportunities, appear and gain popularity unconventional and innovative services in the field (piercings, tattoo, body art, trimming, etc, etc.). For successful business activities and beauty, It needs to closely monitor trends and planned to expand or modify the list of services.
  • According to the method of doing business beauty industry is closely related to the business of creating and realization of clothes and shoes. Therefore, we can establish business relations with colleagues from related spheres, to organize joint promotional- and promotions, etc..
  • In order to expand its customer base and raise the image of beauty it is recommended to introduce additional services, related artists moving into the house or in public places, and the provision of services directly there. For example, it can be to create at home makeup and hairstyles, not only the bride, but her friends, mothers, relatives, etc..
  • Taking into consideration the external beauty as a reflection factor of the internal condition of the body, you can combine data fields of activity, open in beauty extras maintain the physical condition of the body (fitness, yoga, Pilates). As a result of this symbiosis in the cabin complex procedures can be carried out, for instance - a massage and fitness training.
  • To maintain a constant supply of customers in the salon services on the basis of the discount program empowerment can be carried out. It can be achieved not only by increasing the rate of the discount card, but also additional features and bonuses, received by the card holder in the partnership business organizations.
  • Professional capacity building of staff of a beauty salon, achieved by raising the qualification of masters (hairdressers, stylists, manicure and pedicure, masseurs, etc.). Another important factor is mutual cabin hidden advertising services through recommendations from employees to customers. For example, Beauticians recommend massage in the salon, and manicure - hairdresser.
Implementation of the risk analysis and the prospects of opening a beauty salon development
Implementation of the risk analysis and the prospects of opening a beauty salon development

Reasons for possible risks and ways to reduce them

It is quite clear, that opening a beauty salon (especially in the numerous village and a corresponding increase in the competitive environment) fraught with high probability of risk, adversely affecting the successful development of a beauty salon. However, these risks can be overcome by the impact of certain measures. Among the most likely risk factors and measures to reduce them can be identified:

  1. Raising the prices of raw materials and consumables (instruments, cosmetics and Promotional Items). This situation is fraught with reduction in the level of interior profits due to higher cost of losing services in connection with this part of the customer. Reduce this risk can be achieved by signing long-term contracts with suppliers, continuous monitoring of the economic situation and the successful conduct of the advertising company.
  2. Delivery of products in competition with other organizations of similar scope, like beauty salons. For this reason, it may also be part of the permanent lost clientele by addressing them to competitors, which entails a reduction in income. Maintaining customer preferences in the services of a particular beauty can be achieved by maintaining a high level of service quality, constant introduction of promotional offers for loyal customers and expand the list of services.
  3. Staff turnover and transition masters cabin in a competitive company or private activities. The risk of loss of influence on the part of the customer, following the familiar masters in competitive salons or at home service. In any case, profit falls beauty. Risk reduction can be achieved by improving the transparency of activities of employees of a beauty salon, and monitor the performance of their professional duties. In order to retain employees in the workplace can be introduced a system of bonuses and rewards for successful operation.
  4. Increased seasonal services. Entails a sharp decline in the beauty salon came to an inactive season, and the inability to cover the scope of work and the influx of customers during peak season. To smooth the volume of services provided amplitude, Employees are encouraged to leave to concentrate on unclaimed season, and during the peak season to attract more staff to cover all the influx of clientele.

Summarizing the results of analysis

Before, how to begin to implement the business idea of ​​opening a beauty salon should be a thorough economic analysis of the competitive environment in the intended location of the salon, as well as to check the correctness of the expenditure ratio estimated budget and the expected profitability of the business. These economic factors are the main prerequisites for emerging risks. Therefore, the analysis tasks are key:

  • detailed assessment of the seriousness of the competition and knitted her risk;
  • the accuracy of the directions and priorities for the promotion and marketing strategy;
  • assessment of the expected level of income and the estimated payback period of just a business project

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