How To Open Your Own Beauty Salon
If you’ve ever thought about breaking into the salon business, the process might be easier than you think. While many people immediately become overwhelmed at the thought of opening their own business, it’s actually something that can be done by any capable person with the right amount of planning and help.
Opening your own salon is stressful and will be difficult, but it is possible. It’s important to first understand how you want to go about acquiring your own salon. Will you open your own salon business from scratch? Will you purchase a failing franchise or will you buy an established salon? Whatever decision you make will heavily be based on what the market is like in your area, your budget, the location in question, and more. Like many things in life, there is no exact blueprint to correctly handling the situation, as many factors will depend on your exact circumstances.
In 2006, 24 year old and beauty school grad Janine Jarman purchased a failing salon in Los Angeles. The business had a great location and functioning, high-quality equipment. With a simple rebranding and reopening, Janine took her business to the top of the salon industry, something that you can do too! While Janine’s success story is one of many, it’s important to understand the many risks there are in opening your own business.
It’s also a great idea to explore partnerships. Having a partner is a great way to get the second opinion on business decisions that you will most likely be looking for on a daily or weekly basis. For example, if you are more focused and geared towards the creative side of the salon business, it’s not a bad idea to enlist a friend, partner, or mentor to help handle the business side of things. While you might be capable of doing both, splitting up the responsibilities allows you and your partner to truly focus all of your energy into your realm of the business.
Lastly, it’s always good to have a business plan. You’d be surprised at the amount of businesses that open their doors with no foresight or scope of what the future holds and how to handle it. Sitting down and hammering out a business plan with the help of an accountant and attorney can help you handle future problems before they even appear. In your plan you can discuss business and financing needs, but it’s also very useful for understanding and planning your marketing strategy and brand identity. Having a grasp on your brand identity will help you develop into a recognizable establishment.