It’s always exciting when starting your very own business in London. And if that happened to be a hair and beauty salon, then you’re in luck as we will talk about some very important things.
Sadly, London is a very competitive city with millions of businesses all fighting for competition. And don’t think for a second that the hair and beauty industry is any different.
But if you want to make the most out of it, then check out our article about it. With all that said, let’s start.
Decide What You Want
When it comes to opening your own businesses, there are two paths to go down. Path number one leads to opening your very own shop while path number two will lead you into a franchise.
The great thing about path number two is that London has plenty of hair and beauty franchises that you can essentially buy into. This means your business will be yet another location on their map. You will carry their name, their logo, and will have to abide by their rules.
The perks of this are you’ll be well known and respected. But the downside is that you do not call the shots and will most likely have to pay for it.
The obvious benefit of going alone is that you are your own boss. You decide when to work, when to shut, how much to charge, and everything else. But life going solo isn’t easy. Fortunately, we are basing this article on the prospect of opening your very own hair and beauty salon.
Think Of A Business Plan
Every hair and beauty salon owner in London doesn’t become successful through the night. It takes a lot of work, sacrifice, and restless nights to become a successful business owner in London.
The same rules apply to any kind of business. And every business needs a business plan.
The reason why you need a business plan is very straightforward. Without one, you will not be able to finance your business through external means. What this means is you will not be able to get investors or a loan from the bank if you don’t show them a business plan.
You wouldn’t need a business plan if you had the money, but not every entrepreneur has the starting money to do so.
Even if you do have the money, a business plan explains everything related to your business. So don’t make the obvious mistake of starting without one.
Find A Suitable Location
You would be surprised to find out how important location can be for a new business. Some London businesses go completely bust because of their poor location.
So you should put a lot of thinking into it.
Fortunately for you, we can help with that as well. Seeing as London is huge, finding the right location for your business can go one of two ways.
It can be a real nightmare, or it can be a walk in the park. There are a few things you need to consider when determining the right location for your hair and beauty salon in London.
The first, and probably the most important for the customer is convenience. You need to make sure that the location is convenient for your customers. The second, and third, things are all related to yourself.
Namely, you need to determine whether you can afford it; will it be cost-effective? And you will also need to determine whether the location gives you access to the right stuff.
A hair and beauty salon needs quite a few things such as equipment, products, and even parking space.
Financing Your Business
Not every entrepreneur has the money to start their own business with their own money. The vast majority of London entrepreneurs rely on banks. We touched on this briefly but it is important to mention that this is the next step in opening your hair and beauty salon.
Considering that you’ve already come up with a business plan and you’ve found a suitable location, it’s now time to finance your project.
For Londoners, a great source of information can be the UK Gov’s business finance support website here.
Now we come to the part of the article where we talk legalities for a bit. First off, you will need to choose your business’s legal structure. That isn’t so easy as each structure is different from the rest.
There are four to be precise. You can choose from Sole Trader, Partnership, LLC, and Limited Company. Each one is different from the rest and each one gives your business different benefits.
So you should spend more time researching this part before committing to one.
Another important thing to consider is that you are legally obliged to ensure your salon. There’s plenty of helpful resources online on this matter. If you’re hiring staff, then do know that comes with other legal responsibilities. There are certain London rules and laws you have to familiarize yourself with before opening your own business.
Health And Safety
A hair and beauty salon not only has legal responsibilities but health and safety ones. While these also fall under the “legal” umbrella, it’s important to distinguish one from another.
What we mean by health and safety responsibilities is that you need to abide by the Health and Safety at Work Act of 1974. Doing a quick Google search will explain everything related to it.
Market Your Salon
Once you have everything up and running, it’s time for marketing. Marketing isn’t everyone’s type of cookie, but we’re betting that marketing is much easier than understanding legal structures.
There are a few ways to market your business. The easiest one is to create a Facebook and Instagram page and run ads. Other means of marketing include flyers, newspaper ads, and other print marketing means.
But what we will advise is to create your very own WordPress website and do it through SEO. SEO isn’t easy nor is it cheap. But if you really want to impress your fellow Londoners, then showing them that you’re modern will certainly do the trick.
While there’s plenty of other stuff to think or consider when opening a hair and beauty salon, these remains the most important tacking points. Make sure to read them thoroughly as they can make the difference when the time comes.