10 Subtle Ways You’re Leaking Money as a Beauty Professional

Reading Time: 8 minutes

And easy ways to fix them to keep money in your pocket

Beauty is a $511 billion industry. From hair, to skincare, to barbering, the opportunities are endless. You might have joined this industry to get a piece of the pie. But for some reason, you as a beauty professional are not seeing much of the profit.

You may have started your beauty career with high hopes to capitalize on your passion. Perhaps you rented a space in a salon loft or worked your way up to becoming a master barber.

You’ve put in the work to learn your craft but are still not thoroughly enjoying the fruits of your labor.

Have you ever wondered how a competitor started the same time you did but seems more successful? You might think it’s a matter of work ethics. You work harder and pinch pennies but others are still expanding and growing. What gives?

We hear you.

Sometimes the reasons you’re not making as much as you want has nothing to do with the outside world. It has everything to do with you and how you run your business.

In this article, we will go over ten subtle ways you’re leaking money as a beauty professional and easy ways to fix them while keeping money in your pocket.

1. Focusing too much on tips

So you receive your first customer for the day. She eagerly chats away about how excited she is for this service. She asks for an add-on and you smile and give it away as a complimentary service.

This first one is a widespread practice in many salons and spas. Sometimes, beauty professionals intentionally don’t charge for additional services because they believe that they will be given a better tip.

Although this method sounds good in the moment, it is actually backward as far as profits are concerned.

If you research how much hairstylists make, you’ll see on average that it is pretty low. This is partially because many stylists shortchange themselves to avoid sticker shock with their clients.

Focusing too much on how to get a better tip, and not accurately pricing your services, puts you at a disadvantage. You might think that you’re scaring away clients, but the truth is that you’re scaring away potential revenue. You want to keep pricing in alignment with your cash flow.

This brings us to our next point.

2. Lack of cashflow awareness

So answer this question honestly. Do you have an acute awareness of how much money is flowing in and out of your business?

Without this knowledge, you can unknowingly be overspending or underperforming without realizing it. When you track your charts, you will be able to see where every single dollar goes.

As a rule of thumb, you want to track your cash flow at least weekly to ensure that money is going where it needs to be and to be vigilant about where money is leaking.

By instilling this practice, you might discover that your weekly expenses supersede your revenue by 10%. Although it may seem trivial, if you continue on that trend then your business is heading in a downward spiral. You may have to cut some things out of your spending.

3. Too many discounts

Family and Friends discount. Mother’s Day discount. Christmas discount. Groundhog Day discount.

Look, we get it. Discounts draw in crowds and can boost your clientele. However, too many discounts can be a bad thing.

If your discounts are too high, too frequent, or just given to everyone, then profits will walk right out of the door. The key is balance.

For starters, you never want to charge below your margins. If you’re not keeping an eye on cash flow, you may end up doing services for free or be in the negative.

For example, let’s say your weekly expenses are $1000 and through zealous discounts, you only made $700 in a week. Although you attracted more clients, you made less money overall and you are probably stretched thin.

So occasional discounts are okay but when they become too aggressive and a staple for your business, then you’re in trouble. You want to focus on increasing your value and not increasing your discounts.

4. Overpaying in taxes

We all hate paying taxes, but it’s one of those things we all need to be compliant with. But did you know that as a business owner, you might be paying more than you need to?

As a business owner, you might be paying roughly 40% of all earnings on tax if we include state tax, federal tax, self-employment tax, property tax, etc. That’s a huge chunk of money especially if you are a small business owner.

But what many beauty professionals may not be aware of is that the government offers many tax deductions to business owners as an economic incentive. 

Without this keen knowledge, you could be overpaying and leaking money. It’s important to sit with a tax professional to discover all the hidden deductions available to you so you can keep money in your pocket.

5. Not raising prices

“But I paid a lesser price last year when I had this service.”

How often have you heard a client say that to you? If you had a dollar for every time you heard that, you’d probably be able to make up for lost profits.

I’m pretty sure that most beauty professionals have encountered this conundrum. Although raising prices is probably the easiest way to make more income, not raising prices can burn a huge hole in your pocket. We repeat the phrase “money in your pocket a lot (see the last sentence of #4)

Many service providers are afraid to charge more because they are afraid of losing the clients they already have. But here’s the thing. You cannot afford to not raise your prices. With inflation rising on average 2-4% annually, at some point your prices should reflect the current economic market.

Not only that but as you become more skilled at your craft, your prices should ultimately reflect your value.

Think about it this way. Let’s say you want to get surgery done. If the surgeon charged you a very low price, you would probably be skeptical. That’s how you should view your business.

If you know you are extremely skilled at what you do, then your price should reflect that. People expect poorer service and lower quality with lower prices. So do yourself a favor and bump up those prices.

6. Scarcity mindset

There’s a famous quote by Al Capone that says “Four quarters are better than one hundred pennies.” Practically speaking, quality is better than quantity.

We’ll be honest with you. You cannot have a scarcity mindset as a beauty professional and be successful in business. If you’re trying so hard to hold tightly to things that are no longer benefiting your business for the fear that you won’t find something better out there, you are playing the game to lose.

For example, let’s say you know you are one of the best hair stylists in town. Your work is excellent and speaks for itself. But you have not raised your prices since you were an amateur. You are fearful of losing the clients that you’ve worked so hard to maintain.

This type of scarcity mindset will not only cheapen your value but will also cause money to slip through the palms of your hands.

Even if you lose many clients, it is better to have fewer clients who can pay for your services than to spread yourself thin amongst lower-paying clients.

As a beauty professional, you have to make the mindset shift to believe that there is enough out there and that you are enough to receive it. There are enough clients out there who value your work, there are enough resources, and there is enough time to live the life you desire as a service provider.

7. Not being consistent with clients

This next point is for our super-friendly service providers. You cannot be inconsistent in pricing amongst clientele. Yes, they have been your clients for a while and you really like them. But customers are not friends and this is business.

This is a rookie mistake that most small business owners make when they are just starting out in business. Although it is easiest to sell to family and friends, it is not a good long-term strategy. 

Unfortunately, sometimes those closest to you are the least likely to value your work. If you keep providing free services and discounts to relatives and associates, you may become resentful when you become financially stagnant.

The truth is that if clients valued your services, then they would understand the price increase. To keep your business consistent and not compromise your brand, you have to charge everyone the same prices. If not, you’ll never see your true profits.

8. Overspending

As a beauty professional, you know what you need to do your best work and impress your customers. But are you calculating all those expenses in the budget?

As we mentioned in a previous point, it is paramount to keep an eye on your cash flow. Otherwise, your expenditures will eat up your profits.

For example, let’s say you want to include a luxurious water fountain in your salon. You believe that it will enhance your clients’ experience while they relax in the spa. You take the plunge and invest a huge amount of money into it. The only thing is that you didn’t take your cash flow into account and now you’re struggling to make your quota.

So yes. You may want to make a big purchase to improve the experience of your brand. But is it absolutely necessary right now and is it within budget?

Making large purchases out of season when your revenue is not stable might cause you to pay for things out of pocket and lose money in the long run.

9. Inaccurate pricing

Can all the beauty professionals who guestimate their prices stand up?

It’s common practice for many service providers to base their prices on what competitors are charging. It sounds wise but there are no systems in place to fully understand what that price is based on.

Are the prices based on cost per hour? Labor? Product use? Experience?

If you are just looking to the left and right to determine your prices, then you might be undervaluing your business and losing money as a result. It’s important to set your own standards and prices and simply not let the market do it for you.

Remember, the goal is not necessarily to be the cheapest service provider. The goal is to be the best—the best quality, service, and experience. When you keep the bar high, clients will rush through your doors.

10. Not budgeting

To round up our list, the last subtle way you could be leaking money as a beauty professional is by not budgeting. And if you have a budget, not keeping to it can be a detriment.

When you have bills to cover and employees to pay, you have to make sure that every dollar is accounted for. If you don’t budget, you might be missing out on opportunities to cut back on discretionary spending.

As a short-term financial goal, you may want to invest in a bookkeeper or a money management system. These methods can quickly alert you if anything is going wrong and how to fix them.

Conclusion

And that is it for our list! All in all, financial leaks are a critical issue in any beauty brand. Good thing there are easy solutions to maintain the integrity of your business.

If you are having difficulty managing the business side of your beauty business, then we’re here to help. BeautyTrak’s membership program will teach you all that you need to know when starting your beauty empire.

Click the link below to sign up for our membership program:

Enroll Now

More Blogs

Search

Social

Facebook

Instagram

Twitter

BeautyTrak

Proudly powered by WordPress

Proudly powered by WordPress

Why You Should Stop Working Multiple Jobs as a Beauty Professional

Reading Time: 4 minutes

The costs outweigh the benefits

“Do you have time to squeeze in one more head?”

It’s a normal Thursday afternoon at the salon. You’re finishing up your current client’s service when another customer enters the shop. They tell you that they need a quick touch-up for their date coming up and it shouldn’t take too long.

It shouldn’t take too long, but there’s a bigger issue. You have to run to your other part-time job and cannot service this client.

You may have started your beauty career with the hopes of becoming a master barber or wanted to discover how to become a lash tech. Unfortunately, you didn’t know how little a cosmetologist makes on average and now you are struggling to make ends meet.

Although taking multiple jobs may seem like the only way to provide for yourself as a beauty professional, we are going to discuss a few reasons why you should reconsider. 

Burnout

If you’re already working full-time at the salon, you probably want to take time in the evenings or weekends to relax and unwind. But if you are taking on multiple side jobs, where is the time to rest?

Everyone has a different threshold for burnout. Do you know your own? Before you consider jumping into a second job, evaluate your current commitments and stress levels. Do you have the support of others to take on more responsibilities? Will taking on multiple jobs decrease your productivity at either establishment?

The truth is there is a high possibility that you will be stretched thin juggling multiple roles. Burnout and sleepiness can inevitably lead to higher fatigue. That could be a recipe for disaster no matter the industry you work in. In the beauty world, clients are entrusting you with their image and transformation. Fatigue could lead to damaging mistakes that could harm your client and your business.

Interpersonal relationship problems

If you’re single with no kids and intend on staying like that for the rest of your life, then perhaps you could make multiple jobs work for you. But most of us desire to one day settle down, or be in a relationship, or start a family. 

When your entire week is consumed by work, you can neglect interpersonal relationships. Forget about time to date, time with your significant other, or time with your kids. You might not be able to invest in those around you when you are overworked.

Rising expenses

You might think you’re making more money taking on another job but have you factored in the extra expenses it might require?

For example, if you have young kids and take on a second job, you might need to put your child in daycare or hire a babysitter. That’s a huge expense that may not be worth the extra effort in the end.

Another instance of added expenses would be increased gas or transportation spending and food expenses. Depending on what kind of job you’re taking on, you will need to commute and order food out of convenience. That can take a cut from your paycheck.

Before you dive into another role, you should consider if it costs less to continue to work as a beauty professional. Perhaps more hours working in your beauty career will launch you farther than taking on another part-time job.

Unable to advance your beauty career

Speaking of working more hours as a beauty professional, it may be harder to advance in your beauty career if your time is divided. There’s a saying that a jack of all trades is a master of none. It may be beneficial in the long run to strictly focus your attention on scaling your beauty business rather than taking on multiple jobs.

Chances are, both positions will eventually suffer and become neglected. That will leave you stuck and stagnant in the same spot with the inability to move forward.

For most careers, there is a requirement to improve your skills and manage different responsibilities to climb the ladder. With less time on your hands dedicated to improving your beauty business, you won’t see a return on your investment.

Conclusion

Ultimately, taking on multiple jobs will cause your beauty business to suffer. This could serve as a conflict of interest for either job causing your job performance to become negatively impacted.

As a beauty professional, you have to be focused in order to scale your business while retaining great client relationships. Clients can tell when you’re not fully into your job or are trying to rush them in order to head to another gig.

It might be difficult at first to see how your beauty business can support you, but BeautyTrak can help you to make the most effective decisions as a beauty professional.

We created an easy-to-follow, step-by-step membership program, so you can focus solely on your beauty career.

Click the link below to sign up for our membership program:

Enroll Now

More Blogs

Search

Social

Facebook

Instagram

Twitter

BeautyTrak

Proudly powered by WordPress

Proudly powered by WordPress

7 Professionalism Mistakes You’re Making in Your Beauty Career

Reading Time: 6 minutes

Avoid these mistakes at all costs

There seems to be a growing dissatisfaction with beauty professionals in this day and age. According to an article posted by Refinery 29, Black hair salons are losing their status as a “safe space.” What used to be a close-knit bond between stylist and client has now become tainted with a lack of professionalism. This may be due, in part, to the rise of social media and YouTube University, with many people trying their hand in the beauty industry with no real training. 

But if you’re a trained service provider, you may have the beauty skills but lack professionalism. And that could be hurting your business without you even knowing why. Are you making some of these mistakes? Let’s find out. 

Multitasking while servicing

Depending on your specific industry and your business model, you may have the flexibility to multitask while servicing your clients. While it’s convenient for you, many clients find it unprofessional and frustrating. It’s a very common practice for hair stylists to talk on the phone for hours or stop to text their loved ones every few minutes while braiding a head of hair. That delays the service and angers your customer. The client experience is more important than your convenience. Every time.

Unreliable

Are you dependable and stick to your word? Many beauty professionals have a difficult time being on time and delivering promised services efficiently. If you have absurd late fees in place but are constantly late yourself, you may be hurting your client relationships. Making a client wait on you for a previously scheduled appointment is unprofessional. Most clients expect the standard a beauty professional sets  is one  they would be able to meet themselves. As a beauty professional, you must lead by example.

Drama

This should go without saying, but clients are coming to you for a beauty transformation – not drama. You may not like some of your coworkers, employees, or boss, but the beauty salon is not the place to react in an unprofessional way. Respect in the workplace goes a long way even if others get on your nerves. Keep your composure and never allow your clients to see you lose your cool – even if your clients enjoy talking about their own workplace drama

Gossiping

This ties in with the last point. It is very unprofessional to gossip with other coworkers, or even worse, to the client on the clock. Your customer didn’t come to you to hear about the latest tea at the salon; they came to get a service. You might think that a small comment here and there might not hurt anyone, but you are sowing seeds of discord. By hurting the brand, you’re only hurting yourself and driving customers away from the business.

Now, this is not to say that you have to be close to everyone you work with or agree with everything your boss does. But a little respect goes a long way. Being amicable with everyone you come in contact with at work will cause you to shine in your professionalism and retain more clients. Keep your comments and criticisms to yourself and stay focused on beauty.

Unprofessional attire

You would think something like attire wouldn’t be a point to mention in an industry like beauty. But as previously stated, the Internet has given rise to a new wave of self-made beauty professionals. Many service providers are operating in their homes or are traveling to service clients. Since the stakes are low, they are more likely to wear comfortable clothes that may not represent their brand well. As a beauty professional, you want to show your clients that their beauty transformation first starts with you. You set the standard and they want to be able to trust you. Always look the part even if you are in a more comfortable environment.

Although professional attire for beauty professionals can vary depending on the specific setting and the expectations of the employer or establishment, here are some general guidelines for professional attire in the beauty industry:

Clean and Neat Appearance: Regardless of the specific style, your clothing should always be clean, well-fitted, and in good condition. Avoid clothes with wrinkles, stains, or visible wear and tear.

Comfort and Functionality: Beauty professionals often need to move around and perform various tasks, so your attire should allow for easy movement and not hinder your ability to work effectively.

Uniform or Dress Code: Many beauty salons and spas have specific uniforms or dress codes that employees are required to follow. This could be a uniform provided by the establishment or a specific type of clothing that adheres to their brand image.

Neutral Colors: Neutral colors like black, white, gray, and navy are often considered more professional and versatile. They convey a polished look and can be easily accessorized.

Minimal Jewelry: While some jewelry is fine, it’s generally best to keep accessories minimal and understated. Avoid large, noisy, or distracting jewelry that could interfere with your work.

Hair and Makeup: As a beauty professional, your own hair and makeup should be well-groomed and neatly styled. This showcases your skills and presents a polished image to clients.

Closed-Toe Shoes: In many beauty settings, closed-toe shoes are recommended for safety reasons. Choose comfortable and supportive shoes that allow you to be on your feet for extended periods.

Aprons or Smocks: If your work involves potentially messy tasks like hair cutting, coloring, or nail services, wearing an apron or smock can help protect your clothing from stains and spills.

Personal Hygiene: Ensure you’re maintaining proper personal hygiene, including clean hands and nails. Neatly trimmed nails are especially important when working with clients.

Modesty: Keep in mind the nature of your work and the professional environment. Avoid overly revealing or casual clothing that may not align with the image you want to project.

Cultural Sensitivity: Be mindful of any cultural or religious considerations that might affect your choice of attire. Always respect the diversity of your clients and coworkers.

Seasonal Considerations: Dress appropriately for the weather and the season. In colder months, opt for layers that can be removed as needed.

Remember that the specific dress code can vary based on whether you’re working in a salon, spa, retail makeup counter, or other beauty-related setting. It’s a good idea to check with your employer or supervisor for any specific guidelines they have in place. Ultimately, professional attire in the beauty industry should reflect your expertise, attention to detail, and commitment to providing quality services to your clients.

Bad attitude

No one likes to deal with an employee with a negative attitude. It kills the mood and enthusiasm, especially for the client getting a service done. Yes, you may be having a bad day, but customers are paying for an experience. Constantly having a bad attitude at the workplace will be felt by your clients, coworkers, and boss. Ensure that you maintain a positive attitude when servicing clients.

Lack of care

People know when someone does not love them or care about their well-being. Being careless and inconsiderate will only put a wedge between you and your client. 

Of course, you got into this profession to make money. And you should find more efficient ways to increase your income. But you don’t want to be so money-motivated that you neglect client relationships. Your customers want to feel like you have their best intentions at heart. After all, they are trusting you with one of the most valuable things they possess–their image. Your expertise could make or break their life opportunities. As a beauty professional, endeavor to treat your clients with the utmost care.

Conclusion

A lack of professionalism could make or break your career as a beauty professional. Although it may be tempting to let your guard down in your place of work, it will benefit you more to always maintain a professional image.

Are you struggling with navigating your beauty career to attract more clients and build your beauty empire?

BeautyTrak will help you make the most effective choices as a beauty professional. We provide easy-to-follow, step-by-step guides and personalized mentorship to help you take control of your business, maximize your profits, and start living the life you want.

We help you grow your business into a six-figure beauty empire. We’ve helped others just like you, and we’ll show you how to improve your professional image.

Click the link below to enroll in our membership program:

Enroll Now

More Blogs

Search

Social

Facebook

Instagram

Twitter

BeautyTrak

Proudly powered by WordPress

Proudly powered by WordPress

Why You Can’t Afford To NOT Make Six Figures as a Beauty Professional

Reading Time: 3 minutes

To make anything less would be a disservice to yourself

As a beauty professional, it’s important to set financial goals for yourself in order to ensure that you’re able to support yourself and any dependents you may have. One financial goal that many beauty professionals aspire to is making six figures per year. While this may seem like a lofty goal, it’s actually something that is achievable for many beauty professionals with the right combination of hard work, determination, and strategic planning. In this blog, we’ll explore some of the reasons why you can’t afford to not make six figures as a beauty professional.

Financial Security

First and foremost, making six figures per year as a beauty professional can provide you with a sense of financial stability and security. If you’re able to consistently earn this much money, you’ll be able to save for the future, pay off any debts you may have, and even splurge on some luxuries every now and then. This can be especially important if you have dependents, as you’ll need to ensure that you’re able to provide for them financially.

Rising Cost of Living

Another reason why you can’t afford to not make six figures as a beauty professional is because of the rising cost of living. Depending on where you live, the cost of living can be extremely high. This means that if you’re not making six figures per year, you may struggle to make ends meet. By making six figures per year, you’ll be able to afford the cost of living in your area without having to worry about making ends meet each month.

To Make a Greater Impact on Your Community

Another reason why you can’t afford to not make six figures as a beauty professional is because it can allow you to make a greater impact in your community. If you’re able to consistently earn a high income, you’ll have the financial resources to give back to your community in meaningful ways. This could involve volunteering your time and services to charitable organizations, donating to causes you care about, or even starting your own charitable organization. By making six figures as a beauty professional, you’ll have the ability to make a positive impact in the world, which can be incredibly fulfilling.

To Own Your Own Salon

Finally, making six figures as a beauty professional can also provide you with the opportunity to own your own business. If you’re able to consistently earn this much money, you’ll have the financial resources to invest in your own business, such as opening a salon or spa. Owning your own business can be a fulfilling and lucrative venture, and making six figures per year can provide you with the financial stability you need to take this step.

Conclusion

In conclusion, making six figures per year as a beauty professional is an achievable goal that can provide you with financial stability, security, and the opportunity to own your own business. By expanding your skillset, building a strong personal brand, and consistently providing high-quality services to your clients, you can increase your earning potential and reach this financial goal. Don’t sell yourself short – you deserve to make a comfortable living doing what you love, and making six figures as a beauty professional is within your reach.

Fortunately, BeautyTrak can help you make to grow your income as a beauty professional through our membership program.

Click the link below to sign up for our membership program:

Enroll Now

More Blogs

Search

Social

Facebook

Instagram

Twitter

BeautyTrak

Proudly powered by WordPress

Proudly powered by WordPress

How Natural Disasters Affect Your Beauty Business

Reading Time: 4 minutes

7 Things to Consider in Times of Crisis

In lieu of Hurricane Ian, many communities are still picking up the pieces after this devastation. What started as a tropical storm developing in the West Indies, quickly turned into a category four hurricane as it made landfall.

You may or may not have been in the direct path of this hurricane, but would your beauty business be able to survive the devastation? Many service providers do not have the business infrastructure to withstand major disasters. 

Whether you live in an area that is more prone to hurricanes, floods, earthquakes, tornadoes, blizzards, or wildfires, it’s still important to ensure the success of your beauty career.

In this article, we will discuss a few ways natural disasters can impact your beauty business.

1. Damaged properties

This first part is a no-brainer. When a natural disaster strikes, the first obvious part of your business that is affected is your property. From wildfires to earthquakes, natural disasters can destroy anything in their path depending on the severity. This includes buildings and company cars.

If you are a salon owner and your building gets ravaged by a natural disaster, will you be struggling to recuperate for the loss? Would you have enough money saved up to keep you afloat while damages are being repaired?

And also, if you are a traveling stylist, like a master barber, then how can you service clients without your car? These are things to consider when it comes to scaling your beauty business.

2. Equipment damage

Equally as important as buildings and cars are salon equipment itself. Even if you are a travel lash tech that specializes in eyelash extensions, there are still some speciality equipment that you have to use. Unfortunately, different machinery can get damaged in natural disasters and hinder your workflow, thus affecting your income.

Equipment damage can be disastrous to small businesses that are not properly prepared or have the access and resources to overcome a trying time. Although there are different options like business insurance and governmental aid, many beauty professionals do not have the business knowledge about these things.

3. Interruptions in Supply Network 

Since natural disasters can ravage entire landscapes, it’s no surprise that there will be delays and disruptions in the supply chain. With hurricanes pausing ship cargoes, delaying flights, and blocking roads through obstructions, it’s no wonder that there are delays in the supply chain.

As a beauty professional, do you rely on the restocking of inventory to keep your business running? It can be difficult to stay on your feet in such a crisis if you were already living paycheck to paycheck.

4. Loss of staff

This next point is a bit more grim. Natural disasters can sometimes spell fatality. In the case of Hurricane Ian, at least 120 people have been reported dead. Whether through drowning from floods, or succumbing to injuries through collapsed infrastructure, Ian devasted many communities.

When people pass because of natural disasters, one has to think about these people’s backgrounds. They once were family members, spouses, and even employees.

When it comes to your beauty business, natural disasters can reduce your manpower. Whether through death or the mourning of a loved one, your beauty business will not operate as it used to if you are not prepared. Ensure your business does not collapse by investing in business insurance and savings.

5. Communication disruptions

Since the nature of the beauty industry is well, beauty, it would make sense for most beauty professionals to gain clientele through social media platforms. Unfortunately, if your area gets struck with a natural disaster, you could very well lose communication to the outside world through damaged satellite towers and phone lines.

Also, you may lose connection with your current clients if you have a period of time that they are unable to reach you. Even your staff will be affected if they are unable to communicate through text, call, or email.

6. Loss of Clientele

Ultimately, natural disasters can result in a loss of clientele thus affecting the revenue of your beauty business. Either clients lose their lives, move away due to the catastrophic damage created by the disaster, or invest their discretionary spending into rebuilding what was lost.

In times of economic crisis, people are in survival mode. Most people are considering how to recover from the devastation and not on beauty. That may take a huge hit at your business if you are not properly prepared and have the business resources to support you.

Conclusion

Natural disasters can strike at any time and anywhere. It would be naive to wait until something happens to begin to prepare. In business, one must always take a proactive approach and not a reactive one.

Fortunately, BeautyTrak can help you to prepare for the worst so that you can always enjoy the best. We offer an in-depth membership program to learn how to prepare your small business. 

Click the link below to enroll into our membership program:

Enroll Now

More Blogs

Search

Social

Facebook

Instagram

Twitter

BeautyTrak

Proudly powered by WordPress

Proudly powered by WordPress

Top 7 Fears of Beauty Professionals

Reading Time: 4 minutes

The spookiest things service providers worry about

You probably started your beauty career with the hopes of getting paid for doing what you love to do. You enjoy building client relationships and transforming every customer that sits in your seat. It brings you so much joy when you complete your finished product and show it to your client. Your clients are ecstatic and their support pushes you to move forward in the industry.

All of that is great. However, there are some internal fears you have about your decision to become a beauty professional. 

In light of Halloween, we want to share with you our top seven fears that every service provider can relate to.

Most entrepreneurs are risk-takers by nature, or at minimum calculated visionaries with a clear plan of action to launch a new product or service to fill a gap in the industry. On a personal level, many entrepreneurs take big risks to leave stable jobs to throw their efforts (and sometimes their own money) into launching a business.

Financial Insecurity

As a beauty professional, you are probably self-employed and paid by commission. For some, it may feel like a thrill to hunt for new clients and get people to fill your bookings. For others though, this might raise a fear of financial insecurity. 

Since there is no guaranteed income or success in entrepreneurship, many service providers experience financial anxiety when their weekly revenue is inadequate.

Not only that, but if you decide to take out a business loan to fund your business, you could risk bankruptcy if you don’t have a solid business plan to break even.

Lack of support

Sadly, even if you did everything right by excelling in cosmetology school, sharpening your skills, and working hard, not everyone will see your vision.

Even though beauty is a lucrative business, it does not have the appeal and prestige like other industries such as medicine. You might find yourself alone as you navigate your beauty career due to the lack of support from friends and family.

Fear of being left behind

Depending on your age, you might feel a bit behind in this new technology age. It seems like every day there’s a new platform or software being released. It can feel overwhelming at times.

Many service providers willfully try to ignore the changing technological landscape and continue doing what they’ve known for years. Unfortunately, by staying comfortable in a box, you would be missing out on opportunities to reach more clientele and create more effective systems to bolster your income.

Fear of changing trends

As profitable as beauty is, it is a completely volatile industry. Trends come and go and consumer tastes change. If specialize in a certain service that loses traction after a few months, you might be stuck. What starts out as your bread and butter could easily become a thorn in your side.

For example, let’s say you’re a hairdresser in the 80s. Perhaps you specialized in the Jerry curl. At the time, it was a cultural revolution and everyone had one. But as time went on, the style was seen as outdated and lame. If the way the only style you were really good at, then you may lose not only clients but a lot of money.

Fear of competition

Although you may feel like you’re the best master barber on the block today, the truth is that anything can happen. Anyone can get certified and steal your clients at any moment.

The thing is that competition is not always a bad thing. If there were no competition at all, then perhaps the demand for your services is low. A little competition is healthy and can spur you to remain on your A-game to be the best at what you do.

Fear of rejection

Although you know what you’re doing as a beauty professional, sometimes you’re unsure if you truly captured the client’s vision. 

We’ve all heard of salon horror stories and wonder what the stylist was thinking. Even though it gives a bit of relief to know it wasn’t your work, sometimes you fear that you could be next. 

Fear of a changing economy

In an economy as unstable as the United States, you never know what’s going to happen. Laws are constantly changing, new policies are always being released, and state regulations are always being adjusted. These things can affect taxes, salon regulations, and beauty product tariffs.

Do you ever wonder as a beauty professional if you are missing something? Sometimes you might fear that the everchanging economy will affect your beauty business for the worse.

Conclusion

There are a lot of spooky things to think about when trying to scale your beauty business.

Fortunately, BeautyTrak helps to ease some of those fears through our membership program. We are here to help you grow your business into a six-figure beauty empire.

Find out more ways BeautyTrak can help you get paid.

Enroll Now

More Blogs