Businesses that have not taken the time to get the business plan right don’t succeed at the rates properly planned businesses do.
Of course, a great business plan is also necessary to achieve funding for your business, but we recommend that all clients develop a good business plan – even if your salon will be self-funded.
For example, a salon that strictly provides hair services will require different licenses from a salon that also offers facials or massages. Whatever it may be, try to make it a focal point of your identity and grow your business from there. Growing your business in a niche market is much easier than trying to succeed in a larger, general market.
"Do your research," said Shanell Jett, owner and stylist at Jettset Mobile Studio. A niche market provides you with more security against failure and a chance to find out what works well (and what doesn't) for your business by allowing you to interact more closely with your customers.
Look at price points and the kind of support the different distributors offer (like advice or consulting), and ask if they offer any deals or perks.
As a salon owner, you should place your clients and their experience at the top of your priority list.A business plan makes sure you set up a metric for success and consider the financials before you invest huge amounts of time and money in a new salon." Make sure you have a good understanding of the existing salon market in your area, including how large it is, if it is growing and common trends.This will help you to understand exactly how you will compete against other salons."Ensure that you are complying with the state laws and regulations. "Even if you do offer many services, promoting a niche or specialty service will help you attract not only a very loyal client base, but will [also] instantly lend credibility to your salon as the experts in your niche space," said Jeschonek.If you have to make some adjustments to your plan because of regulations and laws, do so early so that you can avoid potentially having to stop your operation later or [having to pay] a fine." These are some of the common licenses, regulations and permits required for salons: "With salons on every corner, even in small towns, entering into the market with a specialty or service niche can dramatically increase buzz and press about your opening," said Pamela Jeschonek, owner of Everyday Esthetics Eyebrow Studio. To obtain products for your salon – such as chairs, mirrors, washing and drying stations, shampoo, conditioner, pins, and brushes – you will need to contact a distributor.This will create return customers who, over time, will form a reliable customer base. 1 tip for aspiring entrepreneurs before they open up a salon is to have a number of professional clients of your own that will cover your overhead," said speaker and entrepreneur Sandra La Morgese."With a solid client base of your own, you'll be in a better position to call the shots." Whether you buy a building or rent a retail space, your location is one of the biggest expenses of opening a salon, and there are many factors to consider when making this decision.But even if you have the styling skills, launching your own business can be a challenging process that requires patience and know-how.The cost of opening your own salon is around ,000 for a basic setup, but it can go up to 0,000 or even more.[Read related article: How to Write a Business Plan] "A business plan is key to starting a salon," said Ali Ryan, owner of The Dry House."The plan offers a road map for salon owners to follow and helps entrepreneurs consider all areas of the business.