Beauty may be in the eye of the beholder, but a trip to beauty salons will make you feel and look confidently beautiful – and that’s what’s more important. If you are a beauty and hair enthusiast and dream of launching your own salon business, then today’s article is going to be a good read for you.
The beauty industry is getting to be a more and more attractive business opportunity. And while you can certainly turn a profit from making people feel and look great, there is more to opening a salon business than simply making others look beautiful. From health inspections to getting licenses and certifications, equipment, marketing, accounting, financing, opening a salon business can get complicated fast.
We’re here to give you a breakdown of beauty salons business basics.
How to Choose the Right Opportunity
Choosing the right business opportunity relies significantly on the availability of your funds.
Getting a franchise is most likely the easiest method of acquiring your own business. You wouldn’t have to deal with the tension and fear of a startup business since you will be working with an already established and well-known brand. Marketing costs can get significantly lower, and the franchisor can offer you the support you need during the start and adjustment period, including training the staff, acquiring licenses and equipment, and other necessary trips to help get you started.
Another opportunity to your own business is to buy an already established salon that is on sale. Beauty salons that are put up for sale can be a result of a variety of reasons: from the owner retiring to fatigue, the owner already having had made enough money to bankruptcy. This option is not as easy as franchising as you may need to clear the brand name and revive the business.
The third option is to launch your own beauty salon from the ground up. You start by developing and enhancing your concept of searching for a trademark to acquire clients. Costs for a startup is not as easy to determine an estimate; there are a lot of factors involved and more pitfalls and obstacles to overcome. However, the main advantage is you get to set your own rules and make your unique dream a reality.
In the United States, all businesses must have a license to operate. And all beauty industry employees must have a certification or license to prove that they can practice what they do. Check the Small Business Administration to know what legal issues you need to navigate before starting your business. Furthermore, check the Division of Occupational and Professional Licensing of your state to confirm the specific requirements you need to meet. Another critical matter is to pass a health inspection. If you fail to comply with your jurisdiction’s sanitary regulations, then you may pay monetary fees or your business may be shut down. Refer to your state’s official website to know precisely what you need to do.
With any business venture, location is key. As for beauty salons, places with high traffic enjoy the most success. The most obvious ones are malls, business centers, shopping streets, and districts. Locations near department and grocery stores and uptown with a high number of dwellings are also lucrative spots to open a salon. Try to avoid placing your beauty site in close proximity to another salon.
Usually, salons are situated on the ground floor of an establishment. This is a typical requirement since the business needs many electrical outlets and additional plumbing.
Another important consideration is the hours of operation. Beauty clients tend to come in early in the morning before their workday starts or after a workday, which is usually 5 PM. And naturally, expect more clients on weekends or holidays. Conforming your business hours can expand your clientele. For instance, beauty salons located at business centers typically open at 7 AM and close at 10 PM. While those hours seem logical, some salons are open 24 hours. They charge extra for services offered during the night, and yet these salons still turn a profit.
Do you want to concentrate on nails or offer exclusive hair services? Are you thinking of providing spa services and massages? You may opt to have a full array of personal care services. At the beginning stage of your business conceptualization, you need to weigh all considerations.
These are just the fundamentals you need to get familiar when it comes to starting your salon business. In a future post, we will delve deeper into the technology and equipment you need to carry and the business side of beauty salons.