While the last few months have been difficult for businesses, there have also been success stories. In fact, many businesses launched, and others were reimagined in the months that we all stayed indoors.
One industry that’s continued to flourish is beauty. In 2019, the beauty industry was worth £9.35 billion and, as lockdown saw many of us turning to caring for our skin and stocking up on our favourite cosmetics, it’s likely these numbers will rise by the close of 2020.
It’s easy to see why beauty, and working in beauty, is so popular. Now that salons have reopened, it stands to reason that those who have been thinking of launching their own beauty enterprise can take the plunge.
If you have always wanted to set up your own beauty salon, there are plenty of ways to get started. Here are some ideas to help you begin your journey.
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Know where to begin
The first consideration is whether to set up on your own or go with a franchise. There are pros and cons to both, so it’s worth weighing up your options carefully.
There’s added security in setting up a franchise. Things like marketing and training are already taken care of, so you don’t have to think about building your own brand or researching training for staff.
However, if you set up on your own, you can make your mark. You have a say in the look and feel of your business.
Have a business plan
Like any business venture, you’ll need a business plan. Whether you’re going it alone or joining a as a franchise, you’ll need a plan so that you can factor in investors and create a solid foundation to build from.
Here, you can incorporate the treatments you’d like to offer, how many employees you’ll need, and what you envisage for your business. There are lots of resources for start-ups and SMEs to help you create your plan. Do your research to make sure you’re covering what you need.
Plan your finances
Where will you get your financial backing from? Are you going to take a bank loan out? Is it worth looking into grants?
As part of this, you’ll need to account for more than the rent for the premises you’ll be based in. You’ll need to cover your income, along with your staff’s wages, and think about how you’ll pay for equipment.
To get an estimate for the equipment you’ll need, it’s worth looking at suppliers to see what the average prices are. Take a look at the cost of each LED nail lamp, chair, and hairdryer, to work out the maximum amount you’ll need to set up.
Know the rules and legislation
Whether you’ve worked in beauty for decades or this is your first foray into the world of salons, you’ll need to swot up on the current health and safety regulations, especially now. Keeping staff and clients safe is crucial.
Also, you’ll need to think about the legal implications of setting up a business. Take some time to work through the different employment and business laws so you know what’s expected of you.
Will you take the leap and set up your own beauty salon?
About Carson Derrow
