Here are some common salon setup costs for aspiring owners:. These are just some of the many costs of opening a salon. Keep a checklist of possible salon expenses so you know what to account for when acquiring funding.
Salons are often seen as high-risk businesses, and many banks are hesitant to invest. However, there are many alternatives to traditional loans. Here are some popular financing options for salons. With low rates and fast payback periods, SBA loans are perfect for small startups. However, these loans are relatively competitive, so you'll need a strong credit score to qualify.
Also, if you need immediate funding, you'll want to look elsewhere. Microloans are much easier to attain than traditional SBA loans, because you don't need an expansive credit history or time in business. Just make sure you have a solid business plan in place before trying to secure your loan. Alternative lenders tend to be much more accessible and immediate than other sources of capital.
If you need quick money, you might consider a term loan, asset-based loan, credit card or business line of credit. You need a decent amount of equipment to run a salon, like chairs, sinks and hair dryers. When you're starting out, it can be difficult to afford all these purchases. With equipment financing, you'll receive a loan to front these payments, so you can start off on the right foot without breaking the bank. Rather than buying all-new equipment, consider leasing it to reduce the upfront cost.
Some lenders also offer equipment financing, which uses the equipment as collateral; you would then make regular payments until the value of the equipment is repaid with interest.
Marketing is an essential process for every business, but certain tactics work better for some businesses than others. When opening a local salon, you'll want to focus on becoming a part of your community. Since you're a brick-and-mortar business i. Writing a business plan should be your first step when starting any business. It provides you with a clear objective, outlines how you will achieve that objective, and gives you a good idea of what you need to do to be successful.
A business plan makes sure you set up a metric for success and consider the financials before you invest huge amounts of time and money in a new salon. Make sure you have a good understanding of the existing salon market in your area, including how large it is, if it is growing and the trends.
This will help you to plan exactly how you will compete against other salons. You should also have a strong idea of your target audience, said Michelle Lee, co-owner and master designer of Salon Eva Michelle. Laws and regulations vary by where you live and what type of salon you are opening.
For example, a salon that strictly provides hair services will require different licenses from a salon that also offers facials or massages. If you have to make some adjustments to your plan because of regulations and laws, do so early so that you can avoid potentially having to stop your operation later or [having to pay] a fine.
Think about what makes your salon unique. Is it the services you offer? Your attentive staff? Your customized experiences? Whatever it may be, try to make it a focal point of your identity and grow your business from there. In other words, find your niche. Growing your business in a niche market is much easier than trying to succeed in a large, general market.
A niche market gives you more security against failure and a chance to find out what works well and what doesn't for your business by allowing you to interact more closely with your customers. To obtain products for your salon — such as chairs, mirrors, washing and drying stations, shampoo, conditioner, pins, and brushes — you will need to contact a distributor.
You can find local, wholesale or national distributors with local agents. For larger items, like chairs and dryers, you will need to work with a large wholesale distributor like Belvedere Maletti or Takara Belmont. When you begin your distributor search, remember to shop carefully and consider every prospect. Look at price points and the customer support like advice or consulting different distributors offer, and ask if they offer any deals or perks.
As a salon owner, you should place your clients and their experience at the top of your priority list. Before you start painting the walls and picking out furniture, make sure that your brand vision matches the kind of clientele you want to attract. According to Alleman, this is one of the most important lessons he has learned. This means taking what you know about your target market, and working to create a brand for your salon based on their interests, tastes, and habits.
Consider thinking through your customer service strategy early on, including hiring for emotional intelligence , rather than just skill set. And, you may want to look into tools to help you deliver better customer service, like a shared inbox tool to manage inquiries and booking requests.
To be successful, you need clients. To attract clients, you need a solid marketing plan. For starters, you need a good website. Alleman suggests hiring a professional to create your site if you can afford it. Your site should be attractive, easy to navigate, and ideally include helpful information for your customers, such as hours, location, contact info, and pricing.
Your site is an extension of your brand, so it should be cohesive and match the image you want your salon to present to customers. You want to get the word out about your salon, and getting involved in your community is a great way to do that. Consider hosting an event like a ribbon cutting or a small charity event to attract more customers—for example, sponsor a school play or have the staff volunteer at a local baseball game.
For more marketing strategies that can be relatively low-cost and will help you build your presence within your local community, check out our article on how to attract customers for your opening day. Social media is an important component to your marketing plan, Shenkar says. However, make sure you can confidently say whether or not your target market uses the platforms, and that you have the bandwidth to post content on multiple platforms before you commit.
Start by getting a sense of what hashtags are popular within your niche and creating a content strategy, as well as following other local businesses and encouraging your customers to tag your salon when they visit. There are lots of options to choose from; while some shop owners sell a variety of product lines, Alleman advises against it.
When that happens, Alleman suggests hiring someone based more on personality than skill. You want your clients to enjoy coming in. Personality matters. When a customer finds a stylist he or she likes, they usually become repeat clients.
Contentment will kill a salon. Do streamline processes to make better use of the staff you have. Make the best use of your salon team by capitalizing on their downtime. Assign small daily tasks for everyone to complete in between clients. Chores such as dusting, trash removal, towel and smock folding, and stocking restroom supplies can be conquered easily if everyone pitches in. Consider using salon scheduling and management software to help eliminate the need for as many receptionists.
The software will also make ordering products and balancing your books much more straightforward; therefore, take less time. Whether you are a salon owner or a booth or salon suite renter, setting your service pricing is always a daunting task.
It can be hard to look past the emotional side of what you do — providing services that help people look and feel their absolute best. Keep in mind that your salon needs to not only generate income but to run profitably in order to survive.
If you charge anything less, you are essentially giving away your services. One significant way to improve your salon business is through education. Stay relevant and keep up on current salon trends, techniques, and processes. You can also look into advanced learning for service providers. For your reception and management teams, consider business classes and workshops. Try creating a mentoring program to help them learn customer service nuances while they hone their skills.
Regardless of how to make education a priority in your salon, set an example for others by staying relevant yourself. As a savvy entrepreneur, you should always be on the lookout for salon business ideas that grow your client base. Consider implementing the tactics above to help improve your salon business. An all-in-one salon management tool, Rosy, was designed by hairdressers for the unique way that you work. Start your free day trial now. Your email address will not be published.
Save my name, email, and website in this browser for the next time I comment. We are fully committed to help grow your business! To provide full-featured salon and spa management Software as a Service SaaS to the beauty industry that leverages the latest technology and allows users to build deeper relationships with clients while increasing their revenue and profitability.
Skip to primary navigation Skip to content Skip to primary sidebar Skip to footer. Take a Proactive Approach to Reviews People like to find out more about a business before they opt to make an appointment.
Consider asking questions like: What salon services do you find most valuable? What services do you wish we offered? What do you like best about your salon experience? How can we improve our services? How can we improve your comfort level while in our care?
Do you like our selection of products and tools? What else do you wish we carried? Would you refer us to a friend?
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