Entrepreneurship has tremendous potential to empower women and transform the society. Successful women entrepreneurs are financially independent which gives them the strength to overcome setbacks in life.
An industry which is booming is the beauty and cosmetic industry, which people sometimes associate with small parlours. Women have proved that the beauty industry is much more advanced and plays an important role in career growth, too. They have overcome challenges, accepted various roles and responsibilities, and built their own identity and reputation in this industry.
The beauty and cosmetic industry generates several job opportunities for people who have a keen interest in making others feel beautiful. The demand for experts in this field is on the rise. Therefore, many entrepreneurs are coming up with novel ideas and innovations to make their clients happy. The level of income is also on the higher side, since men and women are ready to pay for the services.
Challenges
It is not easy to own a salon and make it a brand. It is a seasonal business that flourishes during winters when most of the Indian weddings take place. But one cannot totally rely on specific months to sustain and has to think of ways to get profits during the off season. As it is one of the businesses which is connected to people’s everyday life, its demand is high.
Success comes with hard work and patience. This industry is dynamic and there are no set rules to do well in it. However, knowledge of the beauty and cosmetic industry and past experiences definitely help. Planning and execution are also essential to make your brand successful in the market. You will have to build up strategies, counter various problems at every step and take risks to move ahead. Here are some factors you must keep in mind before starting your own salon.
First and foremost is the location. It will decide your target audience. Keep abreast of the latest trends and customer demands in terms of products and services. You need to aggressively market your brand, either through traditional media, digital or both. Overall branding is required to establish the business in the market.
Figure out your unique selling proposition to stand out in the market.
Earning potential
You have to decide whether you want to become a freelancer or set up your own business. Freelance rates vary depending on the project and the market. As a beginner, you can try taking unpaid projects. Later on, you can start with paid projects, but research your local market for the average salaries and rates and do not undersell your work.
If your dream is to start your own salon, a six-figure income is likely. Whether you want to run a franchise business, take over an existing business or start from the scratch, managing your own venture can be both challenging and rewarding. Later, after your success, you can start working with top models or celebrities which can take you to greater heights.
The writer is a makeup expert and executive director of ALPS Beauty Group.
