If you have impeccable style, you can turn it into a profitable business by starting your own styling business. Personal stylists can earn about $50 an hour, which yields a 90% profit margin, so the potential for earning is strong. However, you’ll need to know how to set up and operate a successful styling business. This step-by-step guide has all the business insight you need to start down your path to success.
The first step in launching your own styling business is to decide what services you’ll offer and who your target audience will be. It’s important to focus on a niche market in fashion as this will help you stand out from the competition and attract your ideal clientele. To narrow down your market, consider factors such as age, location, gender and social class.
Getting the proper equipment is also essential when starting a styling business. You’ll need a computer and reliable Wi-Fi system as this is what you’ll use for client consultations, video calls and online advertising. A high-quality camera is also necessary to take photographs of different looks and styles that you can send to clients for their approval or when they are out shopping with you. Mannequins can also help your clients visualize their looks better so you may want to invest in some of these too.
Another crucial investment is a business phone. Keeping a business phone separate from your personal one will make it easy to book appointments, stay in contact with customers and ensure the lines of communication are always open. You may also want to invest in business software, as it can help you run your business more efficiently.