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How much does it cost to open your own beauty/ nail salon - 06-11-08, 12:19 PM

Hello,
just wanted two know how much it costs roughly two open your own salon. ive done my beauty nvq a few years ago and am now going to train in nails.

i have always wanted to work for myself so in the future this is the route i would like to take, are they any websites on business plans?
and wot would be the turn over per year?

ive heard from some people that the money from having your own salon is not that great! but others have said you can make a good income. im confused
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06-11-08, 05:44 PM

Thats because no two businesses are the same.

It depends on how good a technician and business woman you are.

Location is key as is your PR and Advertising.

How much you take varies from every salon because of area they are in, how many techs work for them, and there ability to bring in clients.

How much it costs to set up depend on the shop unit you rent and the work you need to do for this to become a working salon. It also depends on how many work stations or rooms you need and how much your staff (if any) are going to cost in wages. Also other amounts such as initial advertising and ongoing promotions, stock and stock replenishment, bills and insurance etc which again all vary.

I'm sure there are business plans you can buy that are ready made but without researching it all yourself you may not do well.

The business plan is for you more than anyone else. It gives you an idea of what the things cost, whos your competitors and who your clients are going to be.

It helps you budget your money and sets goals to attain also.

Kate
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06-11-08, 05:51 PM

You need a plan.
You can't just take what worked for one salon and transpose it to another!
As the saying goes - if you fail to plan, you plan to fail.
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06-11-08, 07:11 PM

sorry to jump in here but how would you go about making a business plan? i mean what or where do you start? i run a mobile business i know its not the same as a salon but i am interested now???
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06-11-08, 07:31 PM

OK, so you need to look at the following:
what it is you offer
what the local competition is
where you plan to do it - in your village, local town, big city?
how you plan to do it (in a home, rented salon, rented room, converted garage)
Full or part time?
How much you plan to borrow (if anything)
how much your starting costs are going to be: stationery, PR, training, insurance, stock, equipment, uniform etc, fitting out costs
when you plan to do this
why are you doing this? Is it to fill a gap in the market, a bit of pin money, to replace an income, a hobby?
Based on the above how long is it likely to take you to break even?
How much of a wage do you want to take from it, and when - right now, in 1 year, 2 , 3?
Who's going to be doing it? Just you or are you going to have staff?
Do you have a back up plan?
Do you have an investor? Someone who's going to be chasing you for money?
How are you going to promote it?

All of these things will go into a business plan - essential if you're going to borrow money, but VERY useful even if you're not, so that you have realistic expectations. Show it to someone who will act as devil's advocate too!
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06-11-08, 08:17 PM

If you go to barclays website they have a business plan form you can download which will guide you to doing your own.

Most banks have something like this that explains what you need to put in it, ask your bank if they have a new business start up pack or visit business link which is a fab place for new business's to get the help and advice you need.

Kate
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06-11-08, 11:08 PM

Contact business link...they are brilliant...I have my own business advisor from welland enterprise and she helps me with everything from start to finish...and beyond...and its free! x
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07-11-08, 10:09 PM

thanks for the advice that really helps.
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08-11-08, 01:14 PM

I've just mentioned this on another thread, but I managed to secure a discount rate loan through a government intiative. The chap who helped me has been approved to do my Business Plan. Before I was introduced to him, the Business Plan, even with all the guidance from Business Link etc was taking me months!! He did a pro one for me within days!. He sourced the loan and much more for me.
I get nothing for recommending him, just thought I'd mention it as it really helped me get started.
If you live in London, then you can PM for more details.
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11-11-08, 01:12 AM

thanking you all for your replys helped a lot great site and people xxx
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14-11-08, 12:24 PM

I've just set up my own salon. My one bit of advice is to work out your budget and double it. I thought I could do it quite cheaply (and I probably have), but it still cost me at least twice if not three times what I thought!!!

Good luck though, its great having your own business. Just plan, plan, market, market and plan again. You will never stop, and make sure that you spend time working on your business not just in your business.
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14-11-08, 01:07 PM

dollars, pounds or rupiah ?
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