When deciding to open any business you are always asking yourself, WHEN? In this article that will be covered. When is the best time of year, when is the best time in your life, and when it will benefit you the most.
The best time to open a hair salon will vary greatly on the person, the area they live or work in, and statistics. Statistics can include things like how many salons are currently in the area, how many people live and/or work in the area, what is the median income in the area, and how diversified is the area. You will also need to take into consideration your clientele and if you can offer the products and services they will require. The following will offer you a better understanding of the best times to open a hair salon.
Best Time of Year
The best time of year to open a hair salon varies on demographics. Many hair salons will open in the spring, this gives them the time they need to get settled and get their information out to prospective clients before the “summer rush”. The summer rush is the time of year when many people will get their hair cut more often. Colors and perms also come in a rush around this time of year.
The second best time of year to open a hair salon is in October before the “Holiday rush”. The reason behind this is the same as above, as many people want to look their best in family holiday photos.
Best Time in Your Life
It is most beneficial for new hair salon owners to have experience first. Many salon owners worked previously in the profession as stylists, this gave them a better understanding of what clients were looking for and how the salon or salons they worked at were being run. The what to-dos and the whatnot- to-dos.
Secondly and just as important, you need to be in the right financial state of your life. Using banks for loans can be beneficial if you have the credit to allow this avenue. Just remember you will have to make payments on those loans, having a cushion to allow you to make it through a minimum of 6 months to a year until you get established should be an essential aspect of this endeavor.
Thirdly, where are you at in your family life, how will you adapt your family and work life to this new change? Opening any business is a life change, you will spend 365 days, 24 hours a day working your new business, from start-up to opening and clients, employees, vendors, and more. Making sure you have the support you need as well as the backing of your family and friends is an important aspect of opening a new business.
So now you have the basic information on the best time to open your new hair salon, so what’s next?
Here are some smart goals for your hair salon business!
Getting your ducks in a row
Whether you have decided to open your new hair salon based on the information provided for the best time of year or best time for your life stage other things that need to be mentioned are as follows:
Time of Year Opening
As previously stated opening before summer can be a very busy time. You will have to make sure that you have all your essentials in place before you open. If there is a rush you wouldn’t want to be short-staffed or not have all the right equipment up and running as well as all the necessary products stocked and ready to use or to sell.
Being ready for anything is most important. Whether it is a slam dunk grand opening or a bust, either way, the only way to move forward with your dream of owning a hair salon is to be as prepared as you can for any event to happen. Also remember the summer months bring Weddings, Bridal Showers, and oftentimes Baby Showers. If you take on events such as these you will have to have to manpower and time to work with your clients’ needs.
Time of Life Opening
Are you married? Do you have kids? Whats your credit? These are all questions you need to consider in determining if this is the right time in your life to open a new business.
Marriages and children can be effective in negative ways when opening a new business, with all the time that you will have to spend making decisions, looking at properties, applying for loans, looking for staff, finding vendors, and more you will have very little time for family and that is all before you open the doors.
Once the doors are open for the first day, you will have to include managing, staff, vendors, utility and loan payments, working with clients, fixing issues that arise and so much more. Making sure that you have a solid support team in your family, that they understand all the time you will have to be away from home to dedicate to the new business is extremely important.
Essentially if you are in the right time of your life to open a new hair salon, now decide when the best time of year for your demographic would be. Keep all your support close to you so that you do not ever feel like you are struggling, having these people will help you through the roughest parts of this transition.
1. Will clients require me to be licensed and bonded in my state (if applicable)
Yes, licensing and bonding are required in most states to own a hair salon. You must be a licensed beautician with the class hours for management to own a salon.
2. Does the time of year matter in this type of business?
Opening a hair salon doesn’t depend solely on the time of year, it can be a factor in certain demographic areas, but not all will.
Other things you will need to factor in are how many salons you will be competing against as well as what your clientele looks like. Are you working with an older or younger demographic? These will make a difference in how successful you will become.
3. How much of my life can I expect to lose through this process?
Expect to lose most of your time in the fist three years of developing and opening. The first year as in any business will be the hardest, most stressful, and time-consuming. Within three years of opening, you should be able to expect a little more breathing room to spend with family and friends.
Looking to start your own Salon? Get the documents you need to get organized and funded here.
Please note: This blog post is for educational purposes only and does not constitute legal advice. Please consult a legal expert to address your specific needs.
Shawn Chun is an entrepreneur who has owned several types of businesses from a coffee shop to an import and export business to an online review business plus a few more and now creates online resources for those interested in starting a salon business. It is demanding work he loves to do it. Shawn says “I do it for those passionate about their business and their goals. I know how hard the struggle is to obtain and retain clients, finding good employees all while trying to stay competitive.”
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