Things to Consider before Opening a Beauty Salon
To own and run your own beauty salon is obviously a major decision. It involves a great deal of research and planning, and there are many things to take into account.
The following is a list of some of the most important things that need serious consideration:
- Should you rent a ready beauty salon or buy an existing one?
- Should you buy the freehold of a building or buy the lease?
- Is it best to start fresh with an empty shop?
- Where would be a good place for your new beauty salon?
- How will you find the right shop?
- What treatments and what products should you offer?
- How will you price your treatments and products?
- How will you find and select the right staff?
- What equipment should you choose and where should you buy it?
- What about the design of the salon, decoration and colour scheme?
- What insurance do you need?
- How should you do the accounts and VAT?
- How much money will you need and where should you approach for extra finance?
The list is long and you are probably thinking, ‘Where do I start?’ Every one of the above questions is important and contributes to the success of your business. Thinking about, preparing and carrying out all these things is part of running your own business, and, if undertaken correctly and properly, can be exciting and fun. The process needs patience, perseverance and your total commitment.
The pros and cons of opening a beauty salon
- You have control over your choice of premises, products, treatments and image.
- Bigger scope for expansion of treatments and the business.
- Much higher potential turnover and profit.
- You will gain a great sense of achievement from opening and owning your own salon.
- You will have the opportunity to demonstrate your potential and create a successful beauty salon.
- If properly managed, you will have more freedom to have time off, as the staff can run the beauty salon and you will still have an income, unlike when you rent a room or are mobile.
- Your initial capital outlay and running costs will be much higher.
- You will be fully responsible for converting and maintaining the premises.
- There is a much higher financial risk.
- It is hard work and will require a lot of commitment from you.