There has never been a better time to own your own beauty business. The "baby boomer" population is "fighting aging every step of the way" and has fueled a desire for anti-aging skincare treatments and products, creating an industry worth nearly 2 billion dollars in Canada! From teenagers to the elderly, women want to look their best and even men are getting in on the action, with products and services designed for men at an all time high!
There are lots of opportunities for you to find your beauty business niche. Whether you want to open your own spa, laser clinic, skincare clinic or salon, or boost profits in your current one, it’s always a good idea to gather as much information as possible to help your business succeed. At Derma MD we are committed to helping business owners get off to a great start. Our business specialist Donna Greenough has many years of experience in the beauty industry and has helped numerous small businesses set up shop. This industry is full of competition and it’s important to make sure your business is equipped to stand the test of time and to ride the waves of ever changing trends and technology.
Donna has written a series of FREE articles to help you on your way.
#1 Trends in Professional Skincare
Skincare is constantly evolving, with new trends and technology increasing at a rapid pace. Derma MD continues to pay attention to these trends and make adjustments to its product line to include the industry's most results oriented ingredients. You will see as we go through some of the top trends in 2015 how Derma MD is here to help YOU, the Salon/Spa owner offer the BEST in Skincare treatments and products. Here are some of 2015's hottest skincare trends Non-surgical Treatments will continue to grow as technology in lasers, peels & products advances. Read more here...
#2 Covering Spa Expenses with Retail Profits
Profit from product sales should always be equal or more than your total rent and utility costs. For example, if your rent and utilities are $1000 per month, then the sales from product alone should be $2000 ($1000 profit). Very successful Spas will aim to more than double their rent/utility in profit from product sales! Customers visit Spas for service, but along with the service the Spa should also have product available for purchase. Owners and employees should not be passive about this second stream of revenue. Knowing your clients purchasing habits can help you develop a product strategy. Read more here...
#3 Incentives to Get Staff Selling
Your profits from your retail sales should be enough to cover spa rent and utilities. This is hard to do all on your own as a manager or owner. In order to reach this goal you need to get your staff selling. But let’s rephrase this, as most staff members do NOT want to sell as do customers not want to be sold to. Have your staff look at it this way “you are not selling products you are giving your customers solutions”. Read more here...
Now that you have all the tips on the importance of retail sales, and incentives to get your staff selling, the next important step is to make sure that you have good quality products that your customers need, want and can afford. There are 7 main factors to consider when picking a new skincare line: Make sure the product reflects the integrity of the spa and service provided. This will also include picking a line within your customer’s budgets. You must test the product as the client would use it. Read more here...
Donna is also available for consultation and would be happy to help assist you in getting your new business off the ground. She can be reached by email at donna@dermamdcanada.ca.