Beauty business owners, when was the last time do you remember your spa, salon or beauty parlor having days without customers? With many living hectic lifestyles, more are craving for a reliable and relaxing escape, hence raising the demand for your services!
It is due to this rapidly growing demand in Malaysia, beauty businesses are increasingly becoming more competitive. Walk down a row of shop lots anywhere across the country, you are very likely to find at least one or two spas or beauty parlors.
As a small player in a fragmented industry, how can you grow your business to retain a competitive edge?
Here are 6 success tips to grow your beauty business in Malaysia:
1. Have a Solid Business Plan and Stick to It
Having a solid business plan for your beauty center or spa and sticking by it is the first step for any business. It is important for you to clearly identify the vision and mission of your beauty business and to know whether they are attainable. As such, devising an appropriate plan towards reaching your business goal is crucial.
It serves as the compass which steers the direction onto which your business operates. It is also the blueprint for your business consisting of your business background and your overall success strategy.
2. Maintain a Steady Stream of Funding for Your Beauty Business [restrict]
Your beauty business has to always run on a smooth monetary flow, in order for you to thrive against your competitors. Ensure that your final resources are stable, and seek alternative funding channels to keep your business afloat. Keep track of your investments and expenses.
Leverage your loyal customers, by offering them attractive deals once in a while to maintain a steady inflow of repeat customers. Get more visits from new customers, with consistent marketing.
3. Make Sure your Beauty Parlor is Strategically Located
While having your beauty parlor, spa or salon in a shop lot close to housing areas, may seem to be a smart option in Malaysia, take into account the parking issue as well. Are the parking lots limited? Are your neighbouring shops responsible for the congestion in a particular area? When is the traffic usually heavy? Is your place visible? These are among the factors to look into in considering a location for your beauty business.
4. Study Your Competitors
A rather effective way to keep your beauty business up-to-date and to remain competitive is to continuously learn from your competitors. Learn their marketing strategies, their strengths, and also from their mistakes. What gap can you fill? What can you do to improve your existing services and products?
Jamu Massage, a conventional Malay treatment, helps new mothers get back in shape. There is also a Fish Spa in Mid Valley Megamall which provides additional services such as foot reflexology, shoulder massage, and body acupressure services. You could get some inspiration from them and more to upgrade your services.
5. Invest in Your Business Branding
Make sure that the name of your beauty parlor can be easily remembered by your customers. Have a simple yet attractive logo or a consistent set of colors that make it easy to identify with your brand. Focus on creating value for your brand, so that your uniqueness can be associated with your brand name.
For tips on how to provide great customer service to increase brand value, click here.
For instance, Boudoir by Soong Ai Ling, a high-end nail salon in Bangsar, like the name suggests, has an interior resembling French boudoir, that’s decorated with gold-coloured curtains, cozy armchairs, rustic lamps, and floral walls.
6. Do Not Miss Out on the Marketing Part
While you are focused on providing your customers with quality service, products and improving your customer service, it can be easy to neglect marketing efforts. Marketing your beauty business is necessary to increase visibility, draw in new customers and retain existing customers.
Reach out to customers in your area by handing out brochures or leaflets about your special services and offers. Set up a website to enable customers to book appointments online. You could also set up a blog to constantly provide quality content related to beauty and wellness.
Systematically map out the following steps, and research what would work best for your business. Remember that just because a particular strategy works very well for your customers, it may not necessarily work for you. Know your customers, identify their needs and tailor your services to match them. Draw on your strength, and innovate!