You’re a beauty therapist, you're an expert at giving your clients their perfect look, making them feel happier about themselves and boosting their self-confidence when they leave your salon. Yes you’re a business owner, but it doesn’t mean you have to be great at every aspect of your business. Focus on what you’re good at and leave the number crunching to a professional. 

Here’s why…

When you first start out in business you only think about the work you need to do to generate the income. All your client treatments, chatting with your clients and building a rapport with them. As you’re getting your business started it may make more sense to you financially to keep costs to a minimum and do the bookkeeping yourself. However by doing this, you’ll just keep prioritising client appointments and pushing the admin to one side. The longer you leave it the harder it gets to tackle, then it just feels like an unwanted chore.

By hiring a bookkeeper from the outset not only will your accounts be kept up to date so that you always know your financial position in real time, but you’ll also be able to think about the future. In order to build a successful business you need to understand the profitability of your business. As you’re not necessarily a numbers person you may not understand the concept of this. Profitability doesn’t just mean that you're staying out of the minus. Your cash flow needs to be kept nice and healthy and your costs to a minimum to ensure a sustainable and profitable business. 

We can help you to achieve this, with our Management Accounts service. We can sit down together and set goals for the year. These can then be reviewed on a monthly (or quarterly) basis to find out if you’re on track. If not, we can assess the situation together and make necessary changes to get you back on track. Having an insight into where your business is heading in order to take action is really important in business growth. 

It’s also important to monitor your turnover because if you’re close to hitting the VAT threshold you will need to start charging VAT on your services. This isn’t when you actually hit it, this is when you realise you’re going to, that you need to register, to avoid penalty fees and interest. Having a bookkeeper in the background will mean you need not worry about being hit with any unexpected charges from HMRC.

Having a helping hand and a support to fall back on is critical for your beauty salon. You can concentrate on delivering the perfect treatment for your client and stop stressing about all of the admin and numbers. You need not worry about deadlines with HMRC and if you employ members of staff we can even look after your payroll obligations. You can leave the due diligence to us!