The personal services industry is staging a massive comeback after suffering a slowdown in the recent COVID pandemic. There’s good news all around for those who want to start their own businesses as estheticians, hair stylists, massage therapists, and nail technicians. Never has there been such a high demand for bodywork and related beauty-related professional services. But, given the struggling economy, how can entrepreneurs maximize their chances for financial success?
Getting a formal degree in business is one of the smartest ways to lay the groundwork for a profitable venture. Students who major in finance, marketing, or health sciences gain the skills necessary to achieve their goals in any service niche. Other potent tactics for prospective owners are to join forces with other practitioners and offer multiple options to customers who are willing to pay for a one-stop shop. Some founders choose to work as outcall providers to save money on office lease expenses. Likewise, discounts, special offers, and grand opening deals are effective tactics for acquiring long-term clients. Consider the following points before launching your startup.
Cosigners Boost School Loan Approval Chances
If you want to finish a college degree in marketing, accounting, entrepreneurship, or one of the medical sciences, applying for an education loan is usually an attractive option for securing financing. Unfortunately, large numbers of would-be students have no credit history and thus have a tough time getting approved. That’s where cosigners come into the picture. If you want to help someone else get a college loan, being a cosigner can be a game-changer for their career prospects. Whether you decide to assist someone else or apply for a loan yourself, it’s essential to review a complete, informative guide that walks through all the responsibilities and rights of individuals who serve as loan cosigners.
Team Up for Higher Store Traffic
Consider teaming up with other professionals so your business can offer a full range of services to customers. Some partnerships operate in a coordinated fashion with a hair stylist, an esthetician, one nail tech, and one or two massage therapists. It’s easier to attract a large and regular clientele if your practice covers all the primary bodywork and beauty bases. While there are other niches in the industry, like micro-derm abrasion and laser-assisted hair removal, most consumers search for one of the four main services.
Get Licenses & Permits in Order
States are strict about permitting and licensing for commercial entities that offer bodywork services. Because there’s potential for physical harm, authorities make sure that owners don’t have criminal records or shady financial histories. Check with local boards and licensing agencies to fully understand the requirements for obtaining the right legal documents for starting a business.
Consider an Outcall Only Service
Mobile massage therapists have been around for decades. Now the outcall only business model is gaining popularity elsewhere. Manicurists, skincare specialists, hair stylists, and others are purchasing vans and shunning office space in order to boost profits. Check to see if your state requires owners of mobile businesses to have commercial driver licenses. Additionally, speak with an auto insurance agent to get the right kind of coverage for equipment, the van, and yourself.