Things to Consider Before Starting a Hair and Beauty Salon
April 25, 2017
Everyone experiences the desire to look their best and feel attractive. For an entrepreneurial-minded business person, this provides the perfect opportunity to open a beauty salon, especially for those with a passion for hair styling and beauty. However, just like any other business, opening your own salon can be challenging and requires a significant amount of planning, perseverance and work.
Consider the following important areas before venturing into salon business.
Evaluate your budget – You will require a detailed budget before making any major decision which details both your expenses and required income. The budget should include rent, licensing, equipment, overhead charges and include an allowance for emergency funds. A detailed operating budget will help you break-even and to make some profit. You also need to decide how many services you can provide in a week, including hair colours, hairstyles, makeup, facial, manicure or pedicures. Figure out the cost of each session, the break-even figure and the retail price that will give you profit.
Create a business plan – One of the most important aspects of opening a business is creating a business plan. The plan offers a road map for salon owners to follow and help consider all areas of the business and achieve success. Your business plan should include what goals you want to achieve in the first year of business and what strategies you need to follow.
Select space carefully – Location is critical to the success of a beauty salon. Research the places where you intend to set up the salon. A successful location typically includes areas with heavy foot traffic and those near complementary businesses such as clothing stores. When you have decided on a location, carefully read your lease contract to understand what is and is not included by the landlord. It is advised that you receive advice from a professional property lawyer in Melbourne to ensure the lease contract is as fair as possible. Not only do property lawyers have the experience and expertise to provide detailed advice, but they can also review the entire document and help you out with the other legal matters related to the property.
Buy equipment – Hair and beauty salon requires equipment and supplies including salon chairs, shampoo bowls, hair dryers, scissors, combs and makeup to name a few. To start with create a list of equipment and supplies you need and then research to find out the reputable salon suppliers who will be able to accommodate your requirements.
Hire wisely – One of the most challenging aspects of being a salon owner is developing and retaining a competent team. This can seem like a daunting task, not just because both of these responsibilities can be very time consuming but also because you need to have skilled employees. The ability and talent, as well as, the attitude and work ethic of your staff will influence every aspect of your business, so hire your employees wisely.
Marketing and opening – It lets your potential customers know that the business exists. This typically includes advertisements in local publications, magazines or you can even advertise via dedicated websites or social media. Having an introductory offer or two on services can be a real boost as well. Once you are set up with everything, it is time for the grand opening.
These are just a few of the things you should consider before starting a hair and beauty salon.