Startup dating salon
Without proper financial and legal planning, however, even the trendiest shops can crash and burn.
“The most successful salons are those that have somebody who focuses on the day-to-day business,” she says, “and then another person who focuses more on the creative end of it.” Consider partnering with a product company or line.
Jarman works with Sebastian, which has sent her to various business academies for salon professionals.
For example, Ruane says, will they provide tenant improvements or offer an allowance if you sign a five- or 10-year lease?
Is it a raw space requiring electric wiring and HVAC installation? Before signing, have a general contractor review the lease and space to estimate needs and costs.
Like with any new venture, there are some steps you should follow.
Here are a few to get you started: Different salon types have vastly different business models.
Some salons operate as hybrids, though Jarman warns against starting with one model and later switching, since stylists are likely to leave.
Seek strong business partners, whether it’s an investor or simply a strong mentor group, Fantetti says.
A business plan estimates costs so you know your financing needs.
“You can always pay debt down, but you can’t have ,000 magically appear if you didn’t forecast and plan properly,” Ruane says.
Will you open a salon from scratch, buy an established salon or purchase a franchise?