WHY DO BEAUTY AND AESTHETIC BUSINESSES GO BUST? {AND HOW TO AVOID IT}

By Pete Richardson

Sadly, another major beauty business in the UK has gone bust.

Professional Beauty Magazine has reported that Sally Durant Training and Consultancy has gone into administration, ceasing to trade from mid-May.

The training provider, which provided accredited courses and CPD on advanced skin studies and practices, was founded by aesthetic expert Sally Durant, delivering industry education since 2009.

This follows the demise of South African beauty salon’s Sorbet.

In a statement, Durant said: “As a business we have strived to offer the beauty and aesthetic industries with the highest possible standard of advanced education and training with courses that have pioneered the move towards professional regulation and mandatory qualifications.

“The delays in Government legislation and slow implementation of the JCCP register, together with the financial uncertainty over Brexit, not to mention a considerable amount of ill luck, have all taken a huge toll on the viability of the business. While I have tried everything in my power to restructure or refinance the business in order to save it, I have been unable to secure a way forward.”

Professional Beauty reports that Durant has sought the advice of a licensed insolvency practitioner who has told her, as a sole trader, to declare herself bankrupt. She also said that the official receiver will be in touch with colleges and students in due course with regard to “any money that may be owed to you by the business”.

So, what can you do to fireproof yourself from things like new competitors or other threats to your business?

Here’s my top five tips:

  1. Be the best – provide the best possible customer experience form inquiry through to treatment and aftercare
  2. Focus on sales. All businesses need sales to function. Make sure your sales operation is focussed on delivering target driven results
  3. Employ positive people. Get great people to work with you.
  4. Keep up with new trends and treatments – make sure you are able to offer the latest
  5. Be safe and legal and shout about it. Show how you are more qualified than any others