When it comes to running a owning a business, Should be buy this Beauty Salon that would profit or not? Would be accounting!
1,800 (90000 %)
5,300 (Rental)
15,000 (5 Hairstylist)
700 (+Property )
2,100 (Tax)
2,100 (Tax)
24,900 (Totals monthly costs)
Normally need daily income 1,500 x 30=4,5000
For Sale - Revised Price! Beauty Salon for Takeover (D06)
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How To Run A Successful and Profitable Hair and Beauty Salon
If hair and beauty is among your main interests, you might have put thought into opening up your own salon as a business venture. While you can turn your talent and interest into something profitable and successful, there are certain steps that you have to take to make sure that your hair and beauty salon business goes well. You would not want to make an investment and spend time applying for loans only to have your business fail.
To prevent failing and to increase your chances of success, you can start by creating a business plan for your hair and beauty salon. The business plan is something that all small business owners should do. It is an outline of what you plan to offer to clients inside your business. You might like the idea of services that are offered at a nail salon, spa and hair salon. If you can do hair, nails and offer spa services, such as facials and massages, your business will likely flourish because clients will have tons of options from the moment the enter the doors of your business.
After carefully considering what you can and will offer, you will also need to figure out where you will open up shop and how you will get your inventory. There are certain products you will need, including cleansers, shampoos, nail polish and other items. Buying these items from wholesale distributors will allow you to get the best price and increase your earnings based on how much you charge for different services.
When you have this information ready for the beauty business that you plan on starting, you can begin looking into small business loans. Not everyone has the money to start a business. Small business loans are available if you do not have the funds to get started. You can pay these loans back after you begin making sales and having success. Getting approved for these loans means getting the finances you need to buy or lease a building where you will have your clients coming in for their beauty services. When you receive the approval, you can start looking around for buildings that offer the amount of space you will need.
Once you have taken some of the first and most crucial steps to running a successful business, you need to work on setting up the inside of your building. You might want to paint the walls, decorate with frames and artwork and add furniture that will make your clients feel more comfortable. You should choose specific areas for specific services. For example, one are of the building should be setup with hair salon chairs for dying, cutting and styling hair. In a different part of the building, you should have small tables where you can do nails. Keeping things organized will make it easier for your clients to navigate around the building.
You might also consider having a computer inside the building with a phone too. You can take and schedule appointments for clients and keep them organized on your computer. Aside from keeping track of appointments, you can keep track of your earnings and expenses for the business each month. Keeping these documents is imperative, especially since you will need all that information when you file your self-employment taxes each year. With the right system in place, whether you are handling the financial aspect of the business or having someone else do it, you will have fewer problems running your business.
Several weeks before you are ready to open the doors of the business to the public, you have to spend time marketing and advertising to everyone. Getting involved on social media is one way to advertise for free. You should also create business cards and flyers to give to locals. Taking out an advertisement in the local newspaper could also be good for business. Even after you open the doors and start getting clients, you should always continue to advertise because it never hurts to get more clients.
When it is time to start helping clients with their beauty needs, always act respectful. Remember that the type of business you have started is one where you need to help make people look and feel beautiful. Remain honest with your clients, but always do your best to offer them the services that they want. Continue to educate yourself on nails, hair and other aspects of beauty, especially since there are always new trends, because then you can offer the latest and greatest to your clients. Make everyone who walks in those doors feel special, and you will receive tons of positive reviews from your clients. Positive reviews are the best for a small business.
8 New Rules to Make Millions in a Salon Business
Today’s growing salon industry has opened up new opportunity to achieve real financial independence by owning a successful salon. Indeed, more and more salon professionals are selling their salons and retiring as multi-millionaires which only happened in a few rare cases twenty years ago.
The rules of the road on the journey of salon success have changed considerably as has the definition of success in the salon industry. Yesterday’s salon owner strived to make a good living and be the star in their successful salon. Today’s salon owner strives to build real value and retire financially independent so they can travel the world and enjoy the fruits of their risk and hard work.
The modern salon owner is far more entrepreneurial, creative, savvy, and innovative than their predecessors. There is almost universal agreement amongst today’s young “salon-trepreneurs” that yesterday’s rules to running a salon will, at best, only lead to providing a good living. But, to achieve the kind of success that is available in today’s thriving and ever-changing salon industry, salon owners have to master this new set of rules.
Let’s face it, there are 25 salons within a few miles of your salon that offer L’oreal, Redken, Wella, Pureology, Bumble and Bumble, and Paul Mitchell. If you have any doubt of this, just put the name of your town, your state, and then your brand into Google and you will no longer have any doubt. When it comes to hair color, the real truth of consumer sentiment is even worse. In a recent survey of 1,000 non-cosmetologist salon hair color clients, less than 1% thought they knew what brand of hair color their hair colorist used. What’s even worse is that half of them guessed wrong when they identified the brand!
This situation even gets more grim when we introduce the topic of product diversion. Despite the fact that product manufacturers accuse rogue distributors of selling their products to Target, CVS, Wal Mart, and Amazon; you would realize that this is simply not true if you gave it more than a minute of thought. Given the requirements of these mega-retailers (consider their requirement for product liability insurance and certificates of trademark ownership alone), only a product manufacturer can get their products some shelf space in these mega-retailer’s stores and that is only after months of effort. While your sales rep is telling you they are selling you professional-only products, you can do a simple search on the websites for Target, Amazon, or CVS to find that your clients can find the same products for much cheaper at these stores. We’ve all heard before that these are not the same products, but we all know that they are exactly the same.
If you want to offer a truly salon-exclusive line of products that are only available by licensed professionals that have actually recommended the product for a client’s specific needs, then you should consider Organic Salon Systems and their line of hair color, hair care, and salon treatments.
To have a successful salon, you have to have loyal clients who receive real value from your services and feel an affinity to your brand and ethos. To far too many salon owners, marketing means advertising. Avoid this mistake. According to the American Marketing Association, marketing is the Marketing is “the set of activities for creating, communicating, delivering, and exchanging offerings that have value for clients”.
Your marketing strategy should include equal parts of advertising, promotion, and communication. Advertising is media that is paid for in efforts of attracting clients to your salon. Examples of advertising initiatives would be placing a print ad in your local paper, renting a billboard, or running an ad campaign on your local radio station. Promotion is efforts that don’t necessarily require paid media, but attract new clients through more creative means. Examples of promotions would be hosting a “Bring a Friend” night, having a referral program in your salon, providing employee discount programs for large local employers, or appearing as a guest speaker on a local radio talk show. Communication are those efforts that merely create a clear presence for your salon. Examples of communication would be ensuring you have visible and attractive signage, issuing press releases about noteworthy events to your local newspapers, and have a easy to find website that is listed in all of the local directories.
For most salons, traditional advertising is extremely difficult and will have limited returns. The primary reason for this is the competitive landscape that many salons face where too many salons provide almost identical services and a competing for a limited number of clients. To advertise successfully, a salon must develop USP’s (Unique Selling Propositions). In other words, you must have something different that you are offering or no matter how attractive your ad is, your salon is going to look like all of the others. Most salon experts say that unless you have a highly specialized or differentiating offering, you are better off not advertising at all. Unfortunately, we agree.
The good news is that if your are offering organic salon products from a company like Organic Salon Systems, you are offering something different! Advertising how healthy, safe, and nourishing your products are will provide a message that sets your salon apart from your competition. This message will certainly resonate with clients that are specifically concerned about their health and wellbeing. Further, you can actually target these clients and get a much better return on your advertising dollars. Rather than advertise in your local newspaper where you pay a high price for exposure to a broad audience, why not advertise in your local organic newsletter where the rates are much cheaper and all of the readers will be looking for a salon just like yours? By targeting your advertising budget specifically to your niche audience, you will spend less money and get many more clients from your advertising budget!
Today’s consumers want to feel a connection with the products and services that they use. Great companies like Apple, Disney, and Coca-Cola have mastered this art and your salon can too. Rather than providing your client with a short service that enhances their beauty until their next visit, develop a program of care for their beauty that begins with the service and then is maintained and enhanced by the use of products over time followed up by return visits to your chair. DON’T SELL THEM PRODUCTS, they don’t want or need to be sold anything. However, recommend a path for them to achieve their beauty and wellness goals and offer professional yet personalized guidance down that path. Think more homeopathic and holistic rather than service and cosmetic.
This sort of personalized expert advice and consultation is exactly what the modern salon client is yearning for and providing them that invaluable service will develop a relationship of loyalty with them in a very deep and meaningful way. The system offered by Organic Care Systems products is an ideal way to provide your client with this path. Beginning with the wet-stretch-test, which demonstrably gives physical evidence of their hair’s need for either moisture, protein, or maintenance establishes a verifiable baseline of your client’s hair. Progress derived from both in-salon and at-home products usage can be tested and verified with the client at future service visits. Long term progress will be absolutely noticeable and be a strong reinforcement for their loyalty.
We have all heard it thousands of times before, a salon is all about image. For today’s modern salon, nothing could be further from the truth. Today’s “Starbucks” and “Whole Foods” consumers are loyal to a salon for what it represents rather than what it looks like. Long gone are the days when laser lights, loud pop music, and rhinestone-studded hair brushes are attracting new clients like ants to a picnic. In today’s salon industry, the concept of “building an image” has been replaced by “building client affinity”. Client Affinity is defined as a client having an inherent similarity, feeling of kinship, or natural attraction to a business and in the modern salon industry, client affinity equals loyalty.
The most effective way to build affinity with clients is to develop a strong ethos (a set of salon values, goals, culture, and mission) which your target audience is likely to share. Take some time and assess what your target clientele values and build your salons culture around those in order to ensure client affinity and long lasting loyalty. If you’re an organic salon, your clients probably value their health, wellbeing, and social and environmental stewardship. These values are perfectly consistent with the Organic Salon Systems Ethos and is an ideal way to promote client affinity.
One of the most common misconceptions of the Salon Industry is that is salons raise their prices, they might scare new clients away. While this is normally true in most industries, savvy salon owners have realized that higher prices on their services menu allows them to provide more attractive discounts in their promotional programs.
For example, if you increase the prices on your services menu by 20%, but offer a 20% discount for friends and family of current clients, you have increased the perceived value of your services, increased client loyalty from your referral network, and allow for higher prices from potential new clients whose perception of higher value in your services has been driven by the positive remarks of your loyal clients. While we do not recommend increasing your service prices to some unreasonable amount, we have found that almost all salons would benefit from adopting this approach to some extent so long as the service price increases are reasonable.
Starting and running a new business is a risky endeavor. As human beings, we instinctually want to identify an exit whenever we step into even a moderately risky situation. For example, when we walk into an elevator or onto a airplane, we instinctually want to know where the exit is. Why is it that salon owners seem to rarely have an exit plan?
To define your exit strategy for your salon, you’ll need t develop your personal long term plan. How much money do you want to have to retire? What amount of money do you want to sell your salon for? Do you want to leave the business to your children? Is your goal to grow into multiple locations? Multiple States? Multiple Countries? Understanding your personal goals for your business and synchronizing these with your personal financials and personal goals will help you define what your exit strategy is.
Whether your exit strategy is to sell your salon, leave it to your children, or slowly pass it on to your staff; it will become important to you that you build an independent business that has value in and of itself. The biggest mistake made by salon owners is their mistake in developing a business ON their talents rather than building a business FROM their talents. If your salon is successful, it’s lifespan as a business will outlast your career and your payoff will be in passing a wonderful business on to your successor; whether that is your children or someone who has bought your salon from you. In either case, the only way you are passing on something of value is if your salon can be just as successful if you are not involved in the business. This should be your ultimate goal. In order to do this, you will have to put your ego aside and commit to build a great business.
Statistics consistently show that businesses that have sustainable profits sell for 7 to 10 times their annual profits. Unfortunately, salons usually sell for 2 times their annual profit because when their owners leave, so too do their profits. Therefore, most salons are sold for less than their furniture and fixtures. To put that into perspective, if you build a salon business that generates $300,000 per year in profits, you could probably sell that business for $600,000 if you built a business ON your talents and made yourself the star of your salon or $3 Million if you built a business with sustainable profits even if you are no longer working for the business.
Today’s savvy salon industry offers considerable opportunity to generate real wealth for owners and investors. The emerging opportunities call for a different set of rules than the traditional salon industry has called for.
The 5 Best Hair Salons in Singapore
(Image: Salon Vim)
Want to show the world a piece of the person you are through a perfect hairstyle?
Look for the best hair salons in Singapore. These prestige hair salons have provided the best hair teams with sought-after hair-stylists and the best hair products to satisfy your needs and ensure that you will love your new look.
Being afraid that Singapore weather with high humidity will damage your hair?
With appropriate treatments, nothing could stop you from embarking on outdoor activities under the sun or going to the swimming pool as frequently as you wish.
The following hair salons are highly recommended by trendy locals. They provide consistently good haircut, colouring, perming and treatments in a comfortable ambience. Remember to make reservation in advance, especially on weekends as most of these hair salons are heavily packed.
SEE ALSO: The 5 Best Nail Salons In Singapore
(Image: Toni & Guy Hairdressing)
Key attractions
Big online hairstyle collection for customers to get some ideas before heading to salon: Ladies, why don’t you go online and have a look at Toni & Guy Hairdressing’s wide collection of eclectic hairstyles before going to this popular salon? You may get inspired by Toni & Guy’s collection, featuring the best of the last five year hairstyles and find a suitable fashion for yourself.
A safe choice for Western faces: For Caucasian ladies living in Singapore – an Asian country, finding a hair salon that suits your styles best may become a tricky job. Most of the local salons may not be well-versed in your styles. Some can handle well but their prices stand on the very high side. So Toni & Guy, an international brand, is a better choice as this reliable salon has its origin in England and experienced hair stylists who know global trends as well as Caucasian’s styles, hair textures and face features and shapes.
(Image: Komachi The Hair Cult)
Key attractions
Professional Japanese hairstylists with power to change your look: If you are eager to give yourself a stylish Japanese hairstyle, look no further than Komachi The Hair Cult. With magical hands of top hairdressers from Japan, your hair will brightly shine. You can put your trust in Logan, Monma Tsuyoshi, Rie and Meiko as they not only have rich experience but also great taste to bring you a new look that makes you love yourself more. On top of that, you can feel their friendliness, gentleness and sincerity in giving advice on choosing suitable hairstyles for your face shape and how to look after your hair.
A true salon to indulge in great service: Do you only expect a beautiful result after the makeover process? You may miss something. The transforming time is not short so don’t let it boring. You can choose to have a premium salon experience with Komachi where you are pampered with hearty welcome and meticulousness from the staff in a relaxing environment. They never forget to offer you drinks, biscuits, magazines and even comfortable massage to make you enjoy the whole process.
(Image: Kimage Hair Studio)
Key attractions
Affordable prices for attention of master hairstylists: If you believe that a good hairdresser who know your hair conditions and face shape well can do a magic job to make you look better, you can find more than one of that sophisticated hairstylists at Kimage. But it is still not the best part you can get at this trustworthy salon. The best must be the fact that you can have your hair cared under the hands of its master hairstylists at affordable prices. With S$55, a skillful hairdresser will shampoo and style your hair perfectly to fit your face features and lifestyles. If you visit its outlet at Plaza Singapura, don’t forget to request for services with Sam or Cecelia.
Conveniently nationwide located outlets with consistent standards: Featuring 2 prestige outlets and 12 hair studios island wide, Kimage has established itself as a favourite salon chain that is able to deliver consistently good hair services from outlet to outlet. You can visit any outlet that is convenient for your steps to get yourself transformed.
(Image: Salon Vim)
Key attractions
Salon Vim does the best job in hair colouring: Go ahead to this salon if you are looking around for a reliable salon to have your hair coloured perfectly. Many people agree that Salon Vim gives them the final results beyond their expectation. The salon’s experienced hairstylists will patiently listen to your requests and then do the magic jobs to make you love your hair more than ever. No matter what colour you want – dark, light, dip-dye or even rainbow ones, Salon Vim knows how to fill you up with satisfaction.
Mythic hair treatments available: As a flagship store of L’Oreal, Salon Vim pioneers this kind of treatments, using powerful Mythic oil to deeply nourish and protect the color. This method promises to return your dyed hair to a balanced state of healthy hair.
(Image: Zinc Korean Hair Salon)
Key attractions
Providing best Korean styled perm: Have you ever dreamed of a permed hairstyle that is extremely romantic and elegant like Korean movie stars’s? It is unnecessary to take a flight to Korea; you can have your hair permed perfectly right in Singapore. Sophisticated hairstylists at Zinc Korean Hair Salon know how to give you a glamorous look with gorgeous and natural-looking perm. One good thing is that this kind of perm is easy to be managed. Your hairstylist will meticulously give you detailed instructions on that, but briefly all you need to do is simply make your hair curled with your fingers and apply some hair serum on it.
Skillful Korean hairstylist team with pleasant services: It is an all-Korean hairstylist team with the presence of master hairstylists: Nicky, Rany and Rena, who are able to transform your look. With more than 20 year experience, fluent in English and well versed in the latest hair trends, Nicky, director of Zinc is the one you should look for if you wish to have a fantastic makeover. The whole Zinc team is professional and enthusiastic that will serve you with the most pleasant services – providing warm water, magazine, blanket, cushion and wifi password. But the best part of their services must be their warm and gentle care for each individual.
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