Expanding your business can be done in a number of different ways such as: training in a new treatment, bringing in a new product line, taking on staff or premises etc. Deciding when to expand can be a scary decision for any business owner.
My business began in 2011, on my own, visiting clients in their own home. Having a mobile beauty business has its pros and cons. Having no rent or big overheads was great to get me started however having to carry a portable treatment bed and lots of lash kit was a major pain for me.
After 1 year of being mobile I had built up enough of a client base to move into my first premises. I had found perfect treatment rooms above a personal training gym. My business really began to flourish here. I was able to have my lash set up exactly how and I wanted and I had control of my humidity/ temperate for my adhesive, I could also fit more appointments in as I wasn’t travelling between clients.
I worked alone in my little treatment room 7 days a week, some nights until 10pm to accommodate my growing client base. During this time I took on as much as I possibly could and began training with different brands. This was the beginning of my big expansion!
After months and months of planning it was time for my big expansion. I took on my first ever premises- a dis used car audio shop. It was extremely daunting the amount of work that needed to be done to the building but I had a vision! Since moving I have took on 10 members of staff, built five treatment rooms and become a fully qualified educator.
In June 2019 I got the keys to the shop next door! My biggest expansion to date, a brand new training academy. Something that I had been planning for months and now it is already two years old, and I have had the pleasure of teaching many students my accredited training courses.
Anyone considering expanding their business in any way, planning is the key.
· What are your goals? How will expanding benefit your business?
· Is your expansion needed? Can you sustain the expansion?
· What is your cashflow like? How will you pay for it?
· What will the impact be on your work/life balance?
Create a business growth plan which will help to identify your strengths, weaknesses, KPI etc.
Please let us know if you have any questions regarding expansion, we would be more than happy to help.