Have you always dreamed of being successful in the beauty business? Here's how to launch and establish your very own beauty salon. Small Business Liability
Setting up Shop
1.Figure out how much money you need. Starting a business can cost a lot of money, and most entrepreneurs don't turn a profit for the first year or two. Here's what to consider: Franchises under $10,000
Franchises for less than $10K. 100's of low cost franchises. Franchise.FranchiseGator.com Can you still support yourself while your business gets up and running? Calculate how much money you need for monthly expenses, how much of a cushion you have in savings, and how much you absolutely must make each month to stay afloat. Come up with an operating budget. Calculate how much money you'll need to run your business every month. Include rent, licensing, training, payroll, supplies and an emergency fund. Figure out how much you'll charge for services. Once you have an operating budget, you'll know how much money you need to break even each month. To make a profit, though, you'll need to do more than break even. Estimate how many services (such as haircuts, colors, manicures, etc.) you might perform in a week and figure out how much they need to cost in order for you to make money. Keep in mind that though you need to charge enough to be profitable, you can't charge too much — or you'll drive away customers. Try to set a price point that is both fair for your clients and prosperous for you. Get an idea of what other salons charge. Browse comparable salons in your area, and take note of what they charge. Your prices should probably be in a similar range. Do you need a small business loan? Make an appointment with a loan officer at a local bank, and ask him or her to talk you through the process of getting a small business plan. Before you go, write up a quick summary of how you expect your salon to be profitable — whether it's because you offer a unique service...