Insurance and Finance Blog

The Business Side Of A Tattoo Shop {By: Frederick Michaels McKinnon}

by Frederick Michaels McKinnon

If you are a budding tattoo artist, then there will come a point, or perhaps there already has, when you will want to move on from working in someone else’s shop, and you will want to set up one of your own, although working for a while in your local established tattoo shop is vital to build up the necessary skills and confidence to make it on your own.

Once you have made the decision to set up your own tattoo business, the first port of call is to find premises, and then equip those premises with the highest quality equipment that you can afford. There is of course a lot more to running a business than that, you will need make sure your marketing is good enough to keep on bringing business through the door, as well as controlling your costs and managing the books.

Ensuring that you pay equal attention to each aspect of your business can be tricky, especially when you first start. If you dont like bookkeeping for instance then it can be easy to let the books pile up as you ignore them for longer and longer, but if this happens you will not know what sort of state your business is in financially.

As a business owner, there are only 5 numbers that matter to you, and to some extent, these 5 numbers are under your control. The five numbers are those that represent volume of leads, number of conversions into sales, number of transactions, average sale price, gross margin percentage. As far as youre concerned, you can only get more people through the door as potential customers as the more potential customers you get, the more you will be able to convert into real customers.

You need to look beyond the operations side of your business, and look at the overall health of your business. Investing in the best and highest quality equipment that you can afford will help you to maximise your gross margin as you will benefit from longer term efficiency of using better equipment i.e. the higher standard your equipment is, the longer it will last and so there is no need to think about re-buying for the short term.

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