14 years in the game and I have worn all the hats there are to wear in the beauty industry - except two (cosmetology student and commission stylist- the most consistent one is that of an owner. In this blog I share with you The Top 3 Things to Know Before Becoming a Salon Owner
I loved 85% of it 95% of the time - but I want to be honest and transparent!
Opening your own hair salon can seem like an exciting venture, but it's a big responsibility! Before taking the leap to salon ownership, here are the top 3 things you need to know:
Opening a salon requires major upfront costs and ongoing expenses. Be prepared to invest $20,000 - $100,000 or more to get started. Factor in:
Ongoing fixed costs like rent, utilities, employee wages, and more also add up quickly. Create a detailed business plan to estimate costs and operating expenses.
Owning a salon goes far beyond doing hair itself. You need business savvy to:
Take business management courses or recruit an experienced business partner. Strong business skills are mandatory for salon success.
Running a salon demands huge time and energy commitments, especially in the early stages. Expect to work 50-60+ hours per week handling all managerial tasks and building your clientele. Be ready for challenges like:
Know that salon ownership will become your lifestyle, not just a job. Make sure you're ready for the responsibility!
Starting a salon is a rewarding but challenging endeavor. Approach it with eyes wide open by first understanding the key financial, managerial, and personal commitments involved.
At the Liquid Hair Institute, our community is here to support you every step of the way on your salon ownership journey - from business planning to execution.- I have done it, I get it- I even retired from it so Join us to access insights and mentorship to turn your salon dreams into reality by joining our free community!
💜 Peace, Love, & Slay,
Chrystal L. (she/her)
Founder of Liquid Hair Institute