In this video tutorial I talk about how to write a business plan for a hair or beauty salon. After writing the business plan, I explain how to actually start this business, and open the hair and beauty salon of your dreams.
Of course, before I get into people’s dreams of owning a business and things like that, we should get serious and focus on fundamental things that will be needed for this business. There are a few things that you will need to outline when you write the business plan for this business. You can’t get around the question of how you will come up with the money to open your beauty salon, and how much money it will actually require. Raising money is something that is truly challenging to entrepreneurs.
To understand how much money you need to start this business, in your business plan you should have a section with something called the cash flow statement. The cash flow statement will help you list all your expenses and sum them up. That way you will know how much money you will eventually need. Once you figure out how much funding you will need, and hopefully eventually raise that money, it will be time to start that business.
Well, not that fast. You will also need to find an ideal location, and begin looking into hiring staff. You should also consider whether this is the kind of business you want to run long-term because once you start this business, it isn’t easy to turn back. Let’s assume that you are not going to want to turn back, and move forward in this article.
To open a beauty or hair salon, you will need to find out what the proper licenses and permits are in your city and state to open this business. To find out which permits and licenses you need to open a salon, call your Secretary of State office for your state and your local city’s city hall. They will tell you exactly which licenses you need. You should then look into the kind of entity type your company should be. It can be an LLC, and S corp, a C corp or other kinds of entity types. To figure out what entity type will best fit your unique situation, you can get advice from a lawyer or an accountant who works with businesses.
Learn about general business planning and starting a business
Here is a video on how to write a good business plan in general.
Here is a video that shows you step by step how to start a business.
And here is my book on how to go from business ideas to starting a business on Amazon. And here is a blog post with a video about that same book so you can learn more about it.
Lastly, here is my video based course on how to go from business ideas to starting a business (this link includes a very big discount to make it very affordable).
Business And Entrepreneurship Psychology
To start and successfully run a business, you must have a strong mindset, be determined to succeed, and never give up. There will be many challenges along the way, and some of those challenges will be psychological. You will have to deal with issues like anxiety, fear, trust and mistrust, learning to let go of things like your ego, and learning to be humble. To prepare you for that experience, here is an article on business psychology.
And here is a tutorial on how to become a good and successful entrepreneur.by