Industry research reveals which issues are most pressing for beauty business owners.
A recent survey indicates that financial security, reputation-building, and time management are focus areas for beauty business owners in Australia and New Zealand. Timely collected results from their 2024 Customer Survey, with responses from 145 business owners highlighting the current challenges they face in the beauty services industry.
External factors such as rising rent, wages, and operational costs – all in the face of the cost-of-living crisis – are why 29% of respondents named financial security as their main business priority. 25% of business owners said they plan to focus on building their credibility and reputation, knowing that maintaining client trust is essential for ensuring long-term success in their industry.
Nearly a third of respondents (32%) listed time management as their biggest difficulty. Between scheduling appointments, communicating with clients, and managing the day-to-day demands of running a business, owners are left with little time to focus on their professional growth or personal goals.
Despite the immense pressures of being a business owner in the beauty services industry, 31% of respondents shared that creative work (such as performing treatments) is their greatest source of job satisfaction. Owners with an entrepreneurial mindset may enjoy finding creative ways to attract new clients or feel a sense of accomplishment from streamlining their operations.
Looking toward the future, 19% of business owners are searching for ways to diversify their revenue stream. 22% of respondents are prioritising client retention, and over a quarter (26%) are interested in learning more about ways to drive customer loyalty. Only 4% of respondents said they are looking to open new locations; an indication that sustaining their current business takes precedence over growth.
Timely is a global leader in booking and management software, designed specifically for the hair and beauty industry. With a focus on empowering professionals, Timely offers a range of tools that streamline operations, enhance client relationships, and support business growth.
To learn more about Timely, visit this link.
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