You’ve worked hard to develop your skills in the beauty industry, and now it’s time to take those skills to the next level by creating your own beauty business. Whether you are interested in opening a beauty salon, spa, barbershop, or any other beauty/wellness establishment, there are some important tips you should follow to put you on the path to success.
Write a Business Plan
You have the drive and the passion to start your business, but do you have a plan? A detailed business plan not only provides you with a roadmap for structuring, running, and growing your new spa, salon or barbershop, it also can help you acquire funding or bring on investors or business partners. Check out the U.S. Small Business Administration’s helpful guide to writing a business plan to get started.
Run the Numbers
It’s important to take a realistic look at how much money it is going to cost to establish your business and keep it running. Those costs include things like rent, training, insurance, equipment, inventory, staffing and more. Understand that with the upfront and operating costs, it may take months or even a year or more before you’ll be able to turn a profit. Figure out what you are going to charge for your products and services based on industry standards, and consider talking to a financial planner or seeking a small business loan if you need help getting started.
Know the Rules and Regulations
This is the more tedious side of the business, but you’ll have to learn what is required of you to run a business in your county/state. Most businesses are legally required to have insurance, and there are a number of types of insurance that may be required for your business. Additionally, you’ll need to get a business license, secure beauty licenses from your staff, arrange for a health and fire marshal inspection of your workspace, and more. Do some research and prepare yourself for what is needed.
Find Your Place and Your People
You’ll need to determine the right location for your new salon space. If you want to keep the clients you already have from an existing job, you’ll likely need to find a space relatively close by, so those clients won’t have to drive far to stay with you. Also, try to rent a space that you can grow into, but not so large that you are paying for wasted space. Finally, take your time choosing your employees, as the right staff can make or break your business.
Once you’ve established your business, look for creative ways to market yourself and spread the word.
If you dream of someday opening your own beauty business, Shore Beauty School can help you make that dream come true. We offer Cosmetology, Barbering and Skincare programs that can put you on the path for a future in the beauty and wellness industry, as well as our Shear Success program which teaches business fundamentals. Schedule a virtual tour today, contact us to learn more or give us a call at (609) 645-3635.