Getting Into The Hair Salon Business
Women find a safe retreat in salons, a place they get to be pampered, leaving them feeling and looking fabulous. If you are getting into the hair salon business, you need to plan from the start to ensure the business’s success. Discussed below is a guide to help you start.
Plan the Business
No business succeeds without a plan. Otherwise, you are just running it blindly, and you will not make it past the first few days. You have to consider things like the startup and ongoing cost, the business’s name, the target market, and how much you will charge customers.
Obtain Necessary Licenses and Permit
For your salon business, some of the permits you need include a certificate of occupancy, a salon license, a cosmetologist license, OSHA requirements, and a music license if you will be playing music. Failure to obtain these certificates can lead to hefty fines.
Open a Business Bank Account and Credit Card
You will need a bank account solely for your business transactions and a credit card for business expenses. It is wise to keep business, and personal bank accounts separate. Failure to do that will put your valuables at risk if your business is ever sued. According to business law, that is called “piercing your corporate veil.”
Get Business Insurance
Insuring your business is a requirement, just like obtaining licenses and permits. It is essential in covering losses and damages. As you start, opt for General liability insurance, then as you progress, you may take other specific covers. Do not forget to get workers compensation insurance in case of an injury at work.
Invest in Marketing
Try getting your name out there by involving yourself in your community’s projects like hosting charity events and sponsoring a local game. Ensure that you also deliver good services. Satisfied customers will not only come back, but they will recommend you to other clients. Also, create a website where potential customers can see what your company is all about.
If you feel that you have a passion for making people feel and look great, then you should consider opening a hair salon. You should also consider whether you want to join a franchise or open your salon business from scratch. There are many benefits of joining a franchise, such as brand recognition. If you are looking for capital to fund your business, reach out to Advanced Commercial Capital LLC for assistance.