The beauty industry is estimated at billions of dollars worldwide, with the field of hair care contributing 24%. A hair salon can be a profitable and constant business, but you need a solid business plan and training in the field. Also, finding a niche for the hair salon will help you attract a solid base of loyal customers.
Are there any funds for opening a hairdresser / beauty salon?
The answer is simple: YES, there is
I want to open a beauty salon. Where do I start?
3 essential things you should consider before starting a beauty salon start-up:
- It will take up a lot of your time.
- There will be countless challenges, especially if it is the first time you take the path of entrepreneurship.
We have prepared for you a complete guide with the help of which you can make sure that you have planned the business well, that you have set up the company correctly and in accordance with the legal requirements, with 6 simple steps to follow.
Step 1. Identify the market niche
Find your niche market and identify your target customers. How old are these potential customers? What are their hobbies? What income do they have? Consider that young people are more attentive to the style of clothing they adopt, are more receptive to online marketing and more open to trying new brands, but may have a limited budget. 30-40 year old customers can afford more, but at the same time they may already be loyal to another brand.
Step 2. Choose the Location
First of all, think about how much space do you need? Is a bright space needed? Will you need parking? Do you want an area with access from a main artery? It is also certain that a good commercial vision can propel your business, so location is the key to the success of this business.
Step 3. Identify the necessary equipment
The list below contains suggestions for equipment needed for a beauty salon, but it is not an exhaustive list. Depending on the services you want to offer, you may have to add some equipment .
First of all, the furniture in a living room has a very important role. Emphasize quality furniture, equipped with mirrors, cabinets and do not forget a comfortable area, where customers can wait their turn (sofa ). You will also need:
For the Hairdressing / Hairstyle part:
- Workstations (when choosing them make sure they are comfortable for customers and easy to handle for you)
- Hairdressing chairs
- Washing units
- Hair / beard trimmer
- Hair dryer
- Hair plate
- Undulating
- Disciple.
For Cosmetics:
- Cosmetic bed
- Chairs
- Autoclave
- Vapozon
- Washbasin
- Mass makeup
- Wax heater / decanter
- Mirror with lamp
- Airbrush
- Set makeup.
Manicure / Pedicure
- Manicure / pedicure chair
- Nail lamp
- Chit Manicure
- Pupinel
- Electric battery.
Step 4. Calculate the opening cost
The price of the necessary equipment differs from one supplier to another, and if you enter the suppliers’ websites you can calculate yourself: you will come to the conclusion that you can meet the budget in the amount of 200,000 dollars, the amount granted through StartUp Nation 2020. And even more important is the fact that this program does not require co-financing from you. Indeed, there are some initial costs before submitting the project, which you must cover, namely those with the opening of the company (up to 1,000 dollars). If you choose to turn to a funds consulting firm, then you will also cover the advance given to the consulting company, following that after winning the project the rest of the commission will be an eligible expense within the StartUp Nation program (so it is covered from non-reimbursable funds).
Step 5. Identify the Financing Line
Finding the right financing line is vital, the program must be the one for which they are eligible: the business idea, the beneficiary and last but not least the costs necessary to implement the project. The main program through which you can access non-reimbursable funds for opening a beauty salon is StartUp Nation.
Step 6. Set up the company
Accessing funds to open a beauty salon does not change the steps you need to follow to set up the company. Do not ask ONRC if additional documents are needed if you access funds, no one will answer this question. Believe us, the way the company is founded is the usual one.
Before submitting the application file, you must check the availability of the name (it can be done online or at the ONRC headquarters), and reserve the name (ONRC only). You have to decide which legal form you prefer, the most common for opening a beauty salon / hairdresser being SRL (Limited Liability Company).
Step 7. Prepare the Financing File
The first step towards implementing the business idea is to organize and transpose it into a Business Plan. The organization provides the framework for achieving the objectives, writing the project being an important step towards success. The barber shop business plan captures the essence of your idea in a logical, clear, organized manner, being one of the critical tools for obtaining financing and must also include cost-benefit analysis, financial forecasts, market studies and feasibility study.
Therefore, the financing file must contain:
- Business Plan
- Financial Forecasts
- Market Study
- Funding Application
- Other documents that are mentioned in the Applicant’s Guide
At this stage you can write the project / business plan yourself or you can find a consultant to do this for you. If you choose to go through a consulting company Neotrust is at your disposal with a first free consulting session and a gift voucher, and then with project development and implementation services. Contact us, we will be happy to obtain funds!
Step 8. Implementation of the Funds Beauty Salon Project
In this stage you make the purchases and install the equipment. There are 3 ways to implement the program:
1. Reimbursement from own sources
This method assumes that the beneficiary pays the bills from his own money, and will receive his money back by submitting a request for reimbursement. (or more)
2. Payment Request
This mechanism can be used if the supplier accepts the delivery of equipment with payment on time (in some cases and installation). The beneficiary draws up the procurement file, the supplier delivers the equipment, and then the beneficiary submits the Payment Request to the Financier, after which he receives his money.
3. Reimbursement request through Credit Punte
The bridge loan can be granted by one of the partner banks based on the signed financing contract. After the bridge loan is approved, the bank will make the necessary payments to you, and then the beneficiary submits the Reimbursement Request to the Financier to pay off the loan.
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