With the exponential growth in beauty business all over the world and projected to grow rapidly in the years to come, this is the ideal time to get into the Hair Salon and Spa business. However, it is definitely not easy and a lot of careful planning and research should be carried out before taking the plunge.
These are some of the areas that you should focus on –
Location – This is very crucial and can be the defining factor between success and failure of your business. It is not necessary to choose a residential locality only, premises in a busy commercial thoroughfare will be equally good as you can cash in on the office going crowd as well as those out for shopping. Ensure that there is sufficient frontage for signs and that your salon can be clearly seen from the main road. Adequate parking is very necessary too.
Business plan – Get a well known and experienced business consultant to draw a business plan for you. It should have all financial factors such as your total investment, initial expenses on interior decoration, furniture and equipment and recurring expenses such as buying consumables and staff salaries. It will also contain marketing plans that you should adopt. This plan is actually a road map for running the salon in future.
Start on a low key – Even if you are flush with funds, it is always recommended that you start on a low key, just to test the waters before you expand your business. However, do not compromise on the quality of furniture or the ambience and interior decoration. First impressions matter a lot in the beauty business, especially if you are starting a venture. Hire experienced staff only, even if you have to pay them marginally more. Good customer service will help spread the message of your venture through word of mouth quickly. Stock enough consumables to last you a week at the most. Hoarding more is dead investment and will needlessly affect your working capital requirements.
Equipment – Buy only what is required to start off. For example, buy only one IPL laser machine for permanent hair removal and skin rejuvenation treatments even if you have space for installing more. Initially do not choose to go for outright purchase of a new machine. Look around for a second hand machine in good condition or better still lease one for your hair salon and spa. Buy only after you have built up substantial savings through internal cash accruals.
Advertising – The most effective advertising medium is having an optimised online digital marketing campaign structured for you. Contact a well known digital marketing agency, have a user friendly website designed and developed by them and have a SEO and SMM campaign carried out on your site. The higher the rankings on local search engines the more will be the volume of traffic to your site that will result in sales.
Follow these points and you should have a successful hair salon and spa business on your hands in a short time.