How to make £10k per month in your beauty business

We all need to make more money – even more so with the cost of living going up. Most of my clients come to me with a goal of having consistent £10,000 months, hitting £120,000 per year. There are definitely clear ways of being able to do this and taking even more than £10,000 a month.

Let me give you some tips on how to do this.

You need a marketing plan. Most people will say, “Yes I have social media.” Marketing is so much more than this. Social media is only a small part of marketing. You need to have something called marketing layers for your marketing plan to work. A few other ways of marketing are list building, emails, website, podcasting (your own or being a guest on someone else’s) etc.

Build a team. This is the fastest way to get to 6 figures in business. We cannot physically grow on our own. There is nothing worse than being a busy fool. You need to work smarter and not harder. Building a team can be scary when you start, but you will see it’s not that bad when you get started and see your business grow. You need this team to be employed for it to work. Having those that are self-employed or renting space in your salon won’t get you to scale. Having an employed team also makes your business sellable for the future as it will be able to run and earn money without you there.

Make sure your pricing is correct for your business. Whatever you do, don’t look at what others are charging. This is where most of us go wrong in the industry. Your outgoings could be £5000 for the month and the therapist or salon down the road could have outgoings of £2000 a month. This proves you cannot have the same prices. You need to work out the prices that make you money in your business to cover your overheads, product costs and profit.

Strategy is everything. Most will think this means marketing, but that is only a tiny part of strategy. Business strategy is completely different. That will keep you going as a business for years on end as a success, because you know your clear direction, your strengths, weaknesses and areas you need to build. Without a strategy, there’s a good chance you will last no longer than three years, particularly if you face outside challenges like we’ve seen with covid, cost of living, energy prices and so on.

I hope this helps you to go and smash them 10k months. You can take my quiz here to see where you can learn to make more money in your business.

My Mastermind beauty business accelerator starts in July, and is open for applications for those that are hitting 6 figures or ready to push through to 6 figures.
As always, my inbox is open if anyone wants to talk business.

Katie Godfrey
www.instagram.com/kg_katiegodfrey
www.kgbusinessmentor.com

Katie Godfrey

Katie Godfrey is proud owner and director of KG Salon. KG is a multi award winning beauty salon based in Barton Le Clay, Bedfordshire which has been established since 2009. Katie also owns KG Professional which is a beauty training academy across the UK and product range that specialise in eyelash extensions, lash lift and brow lamination. Katie opened her first business at just 18 years old and has since grown to become a Business Mentor and entrepreneur.

All articles by Katie Godfrey