Female entrepreneurs – Which one are you?

By Liz McKeon on March 14th, 2024

Liz McKeon is Salon Business Expert and Founder of the International Salon Business School. She shares her thoughts on the opportunities for female entrepreneurs in the hair, beauty and spa industry.

The Hair, Beauty & Spa Industry presents unlimited opportunities for female entrepreneurs, being in the top three industries for the highest number of women business owners!

An entrepreneur is someone who starts their own business, seeking to make a profit or a difference in the world, or both! Someone with a dream of owning their own business and who knows they want to work for themselves.  

Entrepreneurs play a very important role in the economy, helping to spur growth by taking risks on innovative ideas. The odds of success are never guaranteed, but when success happens, many entrepreneurial pursuits push the industry forward dramatically.

Characteristics of successful entrepreneurs: 

There are similarities among those who are brave enough to enter into the scary domain of entrepreneurship.

Passion: Finding something you love doing, getting really good at it and then bringing your vision to the market place.

Independent thinking: Entrepreneurs continually think outside the box.

Optimism: Entrepreneurs are dreamers and believe their ideas are possible, even when it seems unattainable to others. You have the ability to overcome self-doubt and believe your goals are achievable.

Resourceful and problem-solvers: You never let problems or challenges get in the way and find ways to achieve success despite hardships.   

Tenacity and the ability to overcome obstacles: Failure is not an option, to you continue to work towards success, even when things go wrong.  

Vision: Vision is the fuel that propels you forward to your goal.

Action-oriented: Entrepreneurs are doers, able to overcome challenges and avoid procrastination.

The Hair, Beauty & Spa Industry offers several different options for the self-employed female. You can work full-time, part-time and build your business around your availability and personal/family commitments. The choices and opportunities are endless.  Some entrepreneurial pursuits turn into massive businesses, but most start out as a small one-person business, and many choose to stay that way. Small businesses include sole traders, partnerships and limited companies.  

Part-time job and part-time self-employed is the easiest and safest way to enter into the world of entrepreneurship. With many salon businesses open 50+ hours per week, this is the best option to start with to find out if self-employment is for you, as the risk is totally limited.

Home-based business, fits into the category of small business, but the primary factor is that it’s run from the convenience of your home, giving enormous flexibility in opening hours and the huge advantage of lower overheads.

Mobile services business, can be very popular with clients, particularly for people with mobility challenges. Again, giving great flexibility in working hours, this business model can expand in time, to having fleets of teams servicing local businesses and event management companies. Operatives can be freelance & self-employed, leading to everybody helping one another’s businesses.

Salon based business, with small, medium or large teams, specialising in one service or offering a full menu of treatment and brands.  You can buy or rent your premises, expand to a chain or franchise.

Online business/ industry supplier/distribution: Selling to the consumer or business to business, or even both.  

Lifestyle entrepreneur: This is a new idea, gaining in popularity with the rise of technology, such as You Tube and Tik Tok, that gives everyone access to a global audience. This type of entrepreneur is one who builds a business that incorporates their interests and passions, while sustaining their life goals.

Training: In such a fast paced industry, there is always a requirement for excellent educators.

Services to the industry: Such as digital marketing, accounting, legal, insurance, public relations.

While it takes research, planning and work you can start a business fairly quickly, you just need:

  • A great idea that people will pay money for
  • A detailed plan for success
  • Consistent execution and dedication to that plan

www.lizmckeon.com 

Liz McKeon

Liz McKeon, a renowned Salon Business Expert, author, speaker, coach, and trainer, started her career building and exiting beauty businesses. Over the past decade, she's become a trusted go-to for business growth, transforming clients' ventures and lives. Liz's success strategies feature in global hair, beauty, and spa publications. Renowned brands and corporations hire her to train teams, raise revenues, and enhance profitability. With a stellar record, Liz empowers business owners as a beauty expert, coach, trainer, and mentor, driving profits for thousands.

All articles by Liz McKeon

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