A safe bet
Did you know that the beauty industry makes over $60 billion each year and hair care contributes 12 to 24% of that revenue. Even during economic recession is the beauty business remains unaffected. If you are equipped with styling skills, starting your own business can still be challenging as it requires a lot of patience and knowledge. Starting your own salon can cost you anywhere between $62,000 to $500,000.
Expert tips to start
Your first step should be writing out a business plan. By doing this you will get a clear objective and you will know what you need to do for this to be a success. This plan will give you a roadmap to follow and a birds eye view of all areas of the business. A detailed market research will keep you on top of common trends. This will provide you with a competitive advantage too. It is important to study the laws and regulations regarding opening a salon in your area. Different licenses will be needed for different services being provided.
Finding a niche will help you stand out from your competition. This will also help you create a buzz about your salon. Source products for your salon carefully from distributors. Give priority to your clients as this will help you grow a reliable customer base. Pick the right location for your salon. It is one of the biggest advantages you can have. Ensure that your salon is in an easily accessible place, has parking facilities and also not too close to your competitors also offer the same services. Choose your staff well as it is important for them to be knowledgeable, skilled and friendly. Build your salon experience around how you would want your customer to feel. This will give you direction about the atmosphere in your salon.
How to charge for your services?
This is a difficult question indeed! That too when you are just setting shop. It is good to do some research first and get a fairly rough idea of what someone with your calibre and experience could charge. Then carefully go through your own advantages and skills and then arrive at a price based on that.