According to this Professional Beauty Association report, the salon business is growing fast. The industry has rebounded very well since the last recession with major growth expected in the near future.
The challenging aspect here is that you’ll have to be all geared-up and ready for a lot of competition.
However, if you can prove yourself as a successful hair salon entrepreneur, you will be able to claim your share of a $40 billion a year industry!
To help you open a hair salon and start making money on your own, we bring you a few quick tips to ensure that you get your hair salon up and running quickly.
Know Your Funding Options
Hairdressers usually have very few entry barriers. The biggest and worst one perhaps is lacking the necessary funds. Talk to your bank for a traditional loan, or work with industry investors who can help you start a hair salon.
But first, figure out how much money you will need to set up, start and keep the business afloat for a few months as you build a clientele. Don’t forget to account for the hair salon venue itself, as well as the equipment, treatments and chairs etc.
One of the biggest struggles is to hire a competent team of technicians and support staff. Don’t hire in a hurry. Take your time to conduct interviews and in-salon trials before finalizing an employee. But once you do, make sure they have everything they need to feel rewarded as employees.
Have a Plan
Make sure you work with a professional to create a viable business plan for your hair salon. This document will act as a roadmap, offering you the guidance on what to do when the going gets tough. We realize that you already have quite a lot of info and ideas gathered in your mind, but putting them on paper will help you make better sense of your plan.
Select the Location Carefully
You are venturing out with a new business. It is important that you get the kind of exposure and customers you need to succeed. The wrong location may lead to your hair salon business dying out in obscurity. But the right location may be way too expensive for a brand new salon business to pay for.
And this is where we step in! If you are starting your salon in Atlanta, GA and need a place that is situated at a prime location, we can help.
You do what you do best, and we are willing to take care of the overheads, equipment and all the rest! Get started here!