Beauty salons rank as one of the most in-demand local businesses
Starting a business is a goal that many people have, but demand for the services you want to offer is an important factor to consider.
Fortunately for aspiring beauty business owners, beauty salons have the second highest demand according to new research by global financial technology company Sum Up .
It’s also important that, as potential business owners, you have a good understanding of consumer demand and the level of competition within your chosen niche and local area.
Edinburgh came out as the best city in the UK to start a local business. This city had the highest demand and lowest supply across all niches analysed, receiving an overall score of 7.78.
Bristol follows Edinburgh as the second-best city to start a small business in the UK, and Glasgow places third.
Although beauty entrepreneurs will find plenty of demand for their services across the UK, there is one city where their business is more likely to flourish.
Manchester is one of the best cities to specifically open a beauty salon due to high demand and low supply, says the study.
There are just 93 beauty salons in Manchester despite 720 monthly searches for ‘Beauty salon near me,’ indicating that demand for this type of business is very high in this city.
Sum Up achieved these stats by analysing Google search volumes and the types of each registered business in each city.
The overall best places to start a business were determined by analysing the cities with the lowest level of business supply vs the highest level of consumer demand.
Are you interested in setting up a beauty business? Here's everything you need to know about setting up a beauty salon.
Industries with the highest demand in the UK
|
Rank |
Business |
Overall supply vs demand index in the UK score |
|
1 |
Carpet cleaning |
6.5 |
|
2 |
Beauty salon |
6.33 |
|
3 |
Event planner |
6.15 |
|
4 |
Cleaning business |
6.09 |
|
5 |
Florist |
6.08 |
|
6 |
Moving company |
5.99 |
|
7 |
Tutor |
5.91 |
|
8 |
Caterer |
5.88 |
|
9 |
Retail shops |
5.86 |
|
10 |
Barbers |
5.86 |
The best cities to open a small business
|
Rank |
Business |
Local supply vs demand score |
|
1 |
Edinburgh |
7.78 |
|
2 |
Bristol |
7.12 |
|
3 |
Glasgow |
6.99 |
|
4 |
Birmingham |
6.74 |
|
5 |
Norwich |
6.61 |
How to set up a successful small business
While the niche entrepreneurs choose for their new business does have a bearing on their chances of success, there are also many other factors to consider.
To ensure success when setting up a new business, Sum Up suggests:
- Putting together a detailed business plan, which will help you get prepared and prove useful when approaching investors.
- Figuring out how much money you need to set up your new business and secure funding.
- Completing any legal admin, such as getting registered with HMRC and taking out Employers’ Liability insurance.
- Marketing and branding your business to appeal to your target market and stand out from the competition.
- Ensuring you have the right tools and technology for your business to run smoothly such as a card reader that will enable you to accept cashless payments for your small business on your terms.
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