A hair salon business is one of the most rapidly growing businesses in the nation. So many men and women are caring more about their appearance as well as the importance of healthy hair and healthy image.
Starting a hair salon is quite simple with the right business plan. A business plan should always serve as to attract investment capital or secure loans, to monitor and evaluate the progress of the business, and helps identify roadblocks and setting alternatives.
Coming Up with a Hair Salon Business Plan and Model
- In coming up with a business plan, the following items should be considered: the product or service, the customers, marketing, and securing financial resources.
- An outline of the business plan should include but not limited to a cover sheet, description of the company, service or product, market analysis, plan and follow through, E-commerce if a website is planned, and financial plan.
- Aside from the business plan, another important aspect of starting a hair salon business is to decide on the model of the company.
- Owners should ask themselves what type of hair salon business model they should opt for.
- Some of the business models to choose from include privately owned, franchise chain stores, and even mobile salons.
- Each of these models has its advantages. A privately owned store would be best if the store is located where it meets heavy traffic. A franchise chain store would benefit the owner especially if the name of the salon is well-known. Lastly, a mobile salon benefits owners who cannot afford the rent of a large store.
How to Open, Start and Run a Hair Salon Business
- First and foremost, come up with a plan.
- Select a location for the store.
- Come up with a name for the store and have it registered.
- Register the business model of the salon.
- Train for various skills and talents required to run a hair salon or hire help.
- Train for management skills especially when hiring and handling employees.
- Secure financial assistance from government or private loans, grants, or investment capitals.
- Procure the necessary permits and licenses.
- Market or advertise the salon.
- Come up with a grand opening.
With the proper planning and the right first impression, customers will come to the store, avail of the services and hopefully come again with referrals.