7. Mistake 3: Misunderstanding service
Newcomers may view services like hairstrokes as highly lucrative, but the reality may not meet these expectations. Services are essential "painkillers" or discretionary "vitamins." While hairstrokes enhance appearance, they are more discretionary than essential, falling closer to the "vitamin" category. Misjudging these services as crucial can lead to unrealistic expectations and disappointment. Understanding the discretionary nature of these services is essential for setting realistic business goals.
Overestimation of frequency
Evaluating services based on usage frequency is crucial for assessing their potential success. Services range from daily necessities like food and housing to infrequent needs such as moving help or shoulder surgery. Generally, services needed frequently and deemed essential tend to offer more reliable income streams, while those less frequent and non-essential may provide less financial stability.
In powder brows, hairstrokes, and microblading, these services are typically sought about once per year. This frequency is less than regular beauty services such as hairdressing or nail care but more frequent than one-off procedures like breast augmentation.
Understanding this annual recurrence is vital for setting realistic income expectations for powder brows, hairstrokes, and microblading services. Acknowledging that client return rates will not match those of more frequently sought beauty services is critical to accurately developing a feasible business plan and managing income forecasts.
