The Shop is Yours! What Next??

Opening a Hair Salon Part Seven The Space

Ok you’re getting there. You’ve got that key and the rent free period. You’re still working and not telling a soul at work what you’re up to. Good.

Draw a plan. Grab some graph paper, measure out the dimensions of the floor plan and make lots of copies. You’re going to need existing plans and plans of your layout which in turn gives you your list of equipment.

You now have 2-3 weeks to get open!!!!!

Put newspaper across the windows, you want people to become curious. This is one of your first marketing tools.

Need to get your electricity connected, gas, and that new business phone. Sometimes your utility provider will want security deposits this usually comes in your 1st bill.

Opening a Hair Salon Part Six The Buck$

How much cash do you need saved up to open your own hairdressing studio? Less than you’d think. I’ve opened five hairdressing shops and never once has it cost me more than $20,000.

One of my hairdressing salons only cost $5,000 to get in the door and I borrowed every single cent of that money.

• Stay working at your day job and don’t tell too many people yet that you are striking out on your own.
• Setting up shop can be stretched out a bit which is a good thing so you have time to find the money.
• Money, Money, Money. So now you have to ask family or maybe a few friends to help this dream come true. You know how much money you need. If you can find the right space, it’s fantastic if you can live at the premises as it makes life very cheap and interesting (:
• Bank loans should be considered as a last resort. An overdraft facility can be considered, but you must not think of that as your money! It is for emergencies only.
• Do not use your plastic. Credit cards charge ludicrous interest rates. You don’t want to be working for the banks!
• Get a bank account open, look at charges some banks are better than others and be careful of eftpos charges it all adds up.

To help get you in your own studio grab a copy of this Free Excel Spreadsheet for managing you initial start-up expenses and capital. Provided by Scissors for Stylists.

Also see Step One: Getting the Cash Together