Opening Your First Beauty Salon? Here’s What You Should Know
March 11th, 2020 by Candis Hall
Establishing a business focused on beauty and pampering clients is one of the safest endeavors any business owner can take. Based on the latest data from IbisWorld, the beauty salon industry revenue is expected to increase at an annual rate of 1.4%. Though this industry may be the safest, starting a career in personal care and wellness may not be that easy. There are key things to remember to ensure that you start a beauty salon business on the right foot.
Build A Solid Business Plan
A business plan provides you with a clear objective and outlines the step-by-step process on how you will achieve it. Learn the current trend in the salon market in your area. Check current trends and know your prospective clients early on.
Know the Local Rules and Regulations
Rules and regulations vary depending on the type and location of your salon. Beauty salons that offer massage and facials require a different license compared to one that offers hair services alone. Some requirements include a salon license, cosmetology license, employee identification number, sanitation, and a building permit.
Keep your business well-protected by investing in salon insurance. Business protection will not only keep your mind at peace but also protects all parties involved. Accidents happen and insurance can help you save some money when workplace injuries occur.
Pick the Best Location to Build Your Business
The location is one of the biggest expenses you’ll have when opening a salon so make sure that it will get a lot of foot traffic. Ensure that your chosen location is well-populated, easy to access yet not too close enough to competitors. By ensuring that your clients will have an easy time dropping by your salon, you’ll have more customers which will soon turn to increased revenue.
Network with Distributors
Your newly established salon needs chairs, washing and drying stations, mirrors, shampoo, conditioners, nail art supplies and more. You will need to find a distributor who can supply these items for a low price without sacrificing the quality. Once you have a list of distributors at hand, compare the price points and additional support, such as consulting, that they provide. Consider a collaboration with other brands and distributors and ask for future discount and promotions.
Price Your Service Right
Charging lower than the competitors in the area is the common mistake new business owners do. It may be nerve-wrecking to charge higher since you are new in the industry but consider the amount of training and experience you and your employees have. If you have the skills, then people will pay you for it.
Stay keen on choosing the right employees with talent and experience. After all, it is necessary to hire skilled, well-trained and friendly staff.
Have a clear sense of how to start your business in the right direction. So put on your makeup, style up your hair and start your own beauty empire now.