Small Business Ideas Beauty – A beauty salon or beauty salon (or sometimes a beauty shop) is an establishment that deals in cosmetic treatments for men and women. Other forms of this type of business include hair salons and spas. There is a difference between a beauty salon and a hair salon and although many small businesses offer both sets of treatments; Beauty salons offer more general services related to skin health, facials, pedicures, nail manicures, aromatherapy, – even meditation, oxygen therapy, mud baths and more.
Have you always dreamed of being successful in the beauty business? Here’s how to launch and establish your own beauty salon. Business plan for a beauty salon A business plan is a broad outline for opening a new business. Business plans describe the company’s mission, operations, financial plan, marketing strategy and management capabilities. Writing a business plan for a hair salon leads you through the necessary steps to start a business in the hair and nail care industry. Write a summary of your company, its mission and operating philosophy. Include your company name, address and other contact information, as well as the structure of your business; Sole Proprietorship, LLC., et al. Briefly state your organization’s purpose and describe your customer service philosophy. Write a description of your products and services. Describe how the customer experience in your store will differ from your competitors’ services. Discuss queuing systems and targets for reducing customer waiting times. Discuss whether you will be serving the high end of the market by taking bookings for individual services, or the budget end of the market serving the lowest possible price drop-ins, or even in the middle. . Discuss whether you will add hairstyle consultation services, nail care services or hair care products to the salon. Create a financial summary section, and include at least three years of projected financial statements. Include all possible start-up costs and list potential sources of start-up funding. Use your experience and best judgment when preparing the forward-looking financial statements. Use your marketing goals to gain perspective on how many customers you’ll serve and how quickly your customer base will grow, then base your revenue and direct cost estimates on that data. Create a marketing plan and initial marketing budget. Describe how you will promote the new salon through advertising and promotions. Discuss any incentive programs you plan to offer frequent customers. Family-oriented salons may do well to use local mass market media, such as newspapers, local radio stations, and community magazines, to advertise their services. Upscale or specialty salon ads in specialty publications will be more effective. Remember that word of mouth advertising can make or break a salon serving this segment. Include a short, professional bio that highlights your experience and skills. Also include a professional biography of co-founders or investors with a management stake in the company. Write an executive summary and use it as the first part of your business plan. Use this one- to two-page summary to provide an overview of your business plan, quickly highlighting the important features of each successful section. Setting up a store Find out how much money you need Starting a business can cost a lot of money, and most entrepreneurs don’t make a profit in the first year or two. Here’s something to consider: Can you still support yourself while your business is running? Calculate how much money you need for monthly expenses, how much cushion you have in savings and how much money you need to earn to make ends meet each month. Come up with an operating budget. Calculate how much money you will need to run your business each month. Include rent, licenses, training, salaries, supplies and emergency funds. Find out how much you will be charged for the services. Once you have an operating budget, you’ll know how much money you need each month. To make a profit, however, you’ll need to do more than break even. Estimate how many services (such as haircuts, colors, manicures, etc.) you can do per week and figure out how much they will cost to make money. Remember that while you need to charge enough to be profitable, you can’t charge too much—or you’ll drive customers away. Try to set a price point that suits your customers and is happy for you. Get an idea of what other salons charge. Check out similar hair salons in your area, and note what they charge. Your prices should probably be in a similar range. Do you need a small business loan? Meet with a loan officer at a local bank, and ask them to talk you through the process of getting a small business plan. Before you go, write a quick summary of what you hope your salon will be profitable for – whether it’s because you offer a unique service or there aren’t enough salons in your area. Find out how you will pay taxes. Paying taxes as a small business is different than doing it as an individual, so be sure to find out what you need in advance. To save yourself time and trouble, consider hiring a CPA when setting up your business. Take care of all licenses Unfortunately, running a business means dealing with bureaucratic documents and paperwork. This is what you need to watch out for: get a business license. All businesses in the US must be licensed. Check out the Small Business Administration website for more help. In the United States, all personal grooming workers must be licensed. This includes cutting or coloring hair, painting nails, hair removal, and makeup. Regulations vary by state, so check with your local Department of Occupational and Professional Licensing (DOPL). Make sure your salon can pass a health inspection. To avoid fines or (worse) being shut down by the health department, make sure your salon is sanitary and follows the guidelines set forth by your state. For example what to expect , review the New York State salon requirements. Choose the right location Location is critical to the success of your business. Consider the following: Go to a high-traffic area. Locations near busy streets, shopping malls, or places where people come (such as grocery stores) are ideal. Try to have easy access. If parking is a hassle and there’s a lot of traffic on the way to your salon, people may not think it’s worth the effort. Stay away from competition. Don’t position yourself directly next to another salon—you’ll cancel each other out. Instead, try to set up a spot where Be the only salon for several blocks Employ qualified and trained staff Cosmetic procedures performed by untrained staff can cause health problems for customers. It is important that you employ only qualified and well-trained beauticians, stylists and staff members. Remember, it is your responsibility as the salon owner to make sure your employees are properly trained and understand every procedure shown. Experience can give a beautician the expertise to provide treatments, but without proper training, she will not be aware of the pros and cons of the procedures. As soon as possible, have a short but clear procedure manual for the salon, and give each employee a contract upon commencement. These documents are usually easy to find online and then you can adapt them to your business. It will save you a lot of headaches in the long run if you install properly at first. Create a clean and safe environment while receiving customers from thriving salons in a clean, safe and comfortable environment, where customers can receive fast and professional service. Cleanliness is a particularly important element that can attract customers again and again. Make sure your towels, foot baths and other equipment are laundered, clean and odor free. Keep your tools sharp and up-to-date. Your customers should be able to trust that the products and tools you use are of the highest quality and safest. You can’t put your customers at risk of infections because it can damage your reputation. Make the atmosphere comfortable. Play soft music, use soft lighting and at least have loud conversations between your employees. Offer a wide variety of services (optional) This can give you a distinct advantage over those who only offer one or two types of services. Many clients prefer to have their hair, nails and face done in one place instead of going to three different places. Although you may specialize in one core area (such as hair), offering your customers the convenience of a one-stop beauty shop can set your business apart from your competition. Keep your customers happy It is important that your business builds and maintains the necessary reputation as a quality hair and barber shop so that your customers will keep coming back for maintenance. Try to give them the best possible experience