Are you thinking of starting a salon business but have no money to do so? Of course, you are. Otherwise, you would not have clicked the article. Anyways you have come to the right place.
Starting any type of business in this economy is a risk but the salon industry is one of the few that showed an increase in revenue during the last few years.
How can something like salons be profitable while other businesses are suffering through decreasing revenues? This is because the services that a salon offers are hard to replicate at home and beauty salon supplies in UK are not cheap.
Also, people are more into self-care these days and want someone professional to make them feel and look good.
So let us see how you can start your very own beauty salon without any money.
You must first choose which demographic you want to cater to. The beauty salon business entertains a diverse group of customers. For example, a hair salon is visited by women of all ages and even by men who want their hair done a little differently. Your target audience can be college students, working professionals, housewives, and brides.
You need to pick a category you are good at and focus on it. Make sure that category is popular and trendy. At the same time, you should offer basic services like hair, skincare, nail care, and makeup as most people only come to the beauty salon to seek these services.
Financing is needed to start at a good standard. If your customers feel that there is only a minimum amount of money put into the salon then many will not bother to return as they will perceive you as too lazy or poor.
You should first write down all the required equipment and raw materials and their overall cost. Develop a budget for your first big expenditure as well as any regular expenses. Once the budget is finalized, you will have to decide your source of finance. You can try to get loans from family or institutions. Selling property or stocks is also an option.
The location will play a vital role in your business as it will decide the number of customers that are going to visit your salon. You can open your shop in a busy street or mall but since it has been established that you have little to no money, we recommend using your own house.
Opening up a salon in your home will save you from paying rent and free up funds that can be invested elsewhere.
Equipment is expensive but once bought, it can serve you for years. As a new salon, there is some basic equipment that your shop will need like sinks, chairs, hairdryers, razors, scissors etc. This is one area where you cannot afford to be cheap as your equipment will determine the quality of your service.