10 Steps to Opening and Running Your Own Hair Salon
From the outside, it appears that thousands of women have mastered the art of opening their own hair salon. From Dominican Hair Shops offering a $10 wash and set to Upscale Hair Studios catering to celebrity clients, the market for hair dressers to earn a living in the beauty industry is a lucrative endeavor.
Below are some tips for anyone interested in opening their own salon .
1.
Get a Cosmetology License. Its easier to run a salon when you understand the craft.
2.
Establish a Business Plan. A business plan is a blueprint to your salon's revenue stream, operation and target market.
3.
Establish a Niche. What makes you different from the salon down the street? Maybe its your hours of operation. There is a popular salon Downtown Brooklyn that opens at 6:00 am. This should have been a priceless gem, however the service sucked. So while establishing your niche, make sure your unique service also keeps repeat customers.
4.
Have a Financial Plan. Don't blow your life savings on a business idea. Get financing from your bank or credit union. People tend to be more responsible, when they are liable for repayments.
5.
Learn Book Keeping. A salon can function as a cash business, but if you cant track your earnings and spending, how can you establish a pattern of income. If you're off the radar from the IRS it can be detrimental later on; if you decide later to purchase a home or a vehicle.
6.
Utilize the OPAL.NY.GOV website to find out what certifications and licensing you need to operate. Having a cosmetology license is not the only thing required for salon ownership.
7.
File Your Taxes Honestly. Sure we all hate paying taxes. But recording your revenue will benefit you in the long run. Banks tend to lend money to business owners, who already have income.
8.
Hire Talented and Skilled Stylists. A salon is not a catch all for people interested in making "side money" or temporary income until they start working again It is a real career that requires licensing and skill. Avoid hiring friends or relative that don't know the business.
9.
Don't Rent Booths. Booth rentals create financial strains on salon owners. Both rents tend to be very low and does not cover the salon's operational costs. Both renters are not considered employees and can function under their own guidelines. This includes the times they work, the clothes they wear and the customer service. If you want to avoid, conflicts and YOU working long hours to make up the difference for the salon expenses, establish a commission arrangement.
10.
Hold Weekly Staff Meetings. Regrouping every week or every month will allow the salon owner and the employees to discuss progress or lack there of. Meetings also promote brainstorming sessions.
While there is not a perfect formula to establishing and running a successful salon ,a guided support can always prove helpful!
If you have any questions about this blog, feel free to contact us at VanityHairStudioNYC@gmail.com
Vanity Hair Studio NYC
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