Owning your own small business is probably one of the most rewarding and also stressful experiences a person can endure. But when you have a passion for something like beauty and hair care, know that there’s countless others who share it. Getting off the ground is the first step towards success. An initial investment towards running a beauty salon is not unlike the capitol needed for any retail establishment. Prices can range from a start-up fee of a few thousand to over $150,000, depending on what kind of salon you’re looking to run. The right tools, comfortable chairs that adjust properly, computer software (such as Point of Sale beauty salon software) to keep track of inventory and scheduling, are all investments a flourishing business requires.
Chairs and tools (i.e. scissors, combs, aprons) are sometimes provided by the beauticians, but also falls under the responsibility of a salon owner. Lower chair fees are a great incentive to attract skilled stylists. Checking out what the competition pays its employees is one way to figure out where to start your bids.
You’ll also need a product section. Shampoos, conditioners, and other hair or skin care products are typically displayed at the front of salons. These items are used by the employees both at home and on the clients at work. It’s a surefire way to see instant results, and have customers walk out the door pleased after buying a few take home items. You will have to flip the bill for these up front, but manufacturers offer them to salons at discounted bulk rates. Don’t forget to scan and track these items with the POS software for salons that you (hopefully) installed prior to opening.
Do you plan on having any extra services at your new salon? Waxing, nail care, skin care (i.e.: facials) are wonderful options for attracting more business. However, be aware that in order to purchase and maintain proper equipment, not to mention a well trained staff, you’ll need added funds.
Once your salon is set up and the skilled beauticians are hired, getting the word out should be your next (and maybe final) step. Advertising costs vary, depending on what you want to show off, where you want to promote, and what kind of area your small business is in. Taking out a huge color magazine ad in large metropolitan areas might be too expensive for a start-up. Try internet marketing: place ads online, find regional hair care blogs, or even talk to your friends on Facebook! Getting the word out online is as simple as typing a few sentences. Best of all, it’s free!