As many of you decide that it’s time to go off on your own and claim a piece of the 4 billion dollar beauty industry by owning your own business, here are some simple steps to get you thinking as you begin this wonderful journey. First, you must choose the path that you feel best coincides with your vision. Here are three routes you can take when deciding to own your own salon.
Start From Scratch
Start from scratch and build your salon from the ground up. This entails considerable thought because you will need to literally build your business and image from the ground up. A perk to this is you can bring your ideal image of what you want your salon to look like to fruition on your terms. Having complete control of every aspect of your company brand and image can be very appealing to those who have a lot of creative ideas and the skills and abilities to make it happen.
Buying an established business is a great way to jump right in and get to work. You will want to do proper research on the history of the company and its owners to understand why they may want to be selling the business since they may not tell you specific reasons that led to their decision. It’s important to know if the reason it’s for sale is not because it was developed in a bad location because location is half of the battle in any business.
Buy a Franchise
This is the most expensive choice, but there are a lot of benefits. If you go with the right franchise, you are getting a brand, business plan, established marketing to a wide audience, and a time tested path to success. One down fall with franchises is that you may butt heads with rules, regulations, and as we mentioned, it can be very costly. If the franchise is good and you can afford it, there is a great chance it will be successful. However, do not forget to market your franchise! While people may know your brand, it’s crucial to advertise so people in the local area know where you are and how to get in touch with you.
Professional tip: Choose a location where other businesses reside, whether it is close to a main road, shopping mall, or storefront. As mentioned previously, location is the most important element to consider when establishing your salon. Your salon or shop setting not only determines the volume of clientele, but it will also determine your prices, visibility to the neighborhood, total size, and the layout of your floor plan for salon equipment. Beware of the services you want to provide. Shampoo backwash units typically will include plumbing installation. Identify the electrical outlets available as this will determine your styling station placement & work space. Be sure you are fully aware of the local code requirements as only 50-60% of the actual space will be available to use for services. Another point to remember is ease of parking and access. If people have a difficult time finding a place to park or accessing your store, they will take that into consideration when deciding to go to you for hair services.
Can you think of other important things to consider after you decide how you will become a salon business owner? Comment below!