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I applied for a loan and was successful in getting it. The thought at first terrified me to the core, we had got ourselves into a ridiculous amount of debt when we were younger and clueless, to the point we had to re-mortgage and then our mortgage was through the roof ( no pun intended :D ). We're talking an original amount of around £190k to £270k. It was killing us. We made the decision that whilst the market had recovered enough, we should get our house on the market for it's top worth and move further up the map to get more for our money and pay off our debts.
We did just that and were very lucky to get full whack for our house and managed to pay off every single bit of debt we had and cut our new mortgage right in half. It is actually now less than we first ever started out with, huge relief.
So my natural instinct when my husband suggested applying for a loan to do this was panic, even though not a huge amount of money in comparison to debt before, it's still big enough to worry me but my husband made me see sense and to think of it as a positive investment in myself and our family. That in the long run, it would be the best decision we have ever made and that he has so much faith in my skill and ability that he knew it had success written all over it (god bless him!) and I think he's right. Who knows what the future holds, there are if's but's and maybe's throughout everything in life but it's your attitude in how to deal with it that's important. We made the decision to go for it and I don't regret it at all. Again, it makes me MORE determined that my business WILL succeed!!
I have invested in high end products, your comments and suggestions ring through my ears continuously, buy cheap buy twice etc etc. I would have been one of those bargain ebay hunters a few years ago but not now and not ever again :wink2: If you're going to do it, do it well xxxx
 
I'd just like to add, one of my therapists left and started her own salon. She had cheap products and ridiculously low prices. The business lasted about 9 months.
I don't know why people think that cheap products and cheap services is the way to go. It doesn't work. Clients want quality and they are willing to pay for it!
 
I bought my salons as going concerns, so had the bare bones already. We had 5000 to do signage etc. First thing I did? Opened a Redken account. They came and dressed my salon up in marketing stuff and shelving units to hold my new products.
I decided to get the most beautiful sign that I could afford. I wanted to look "posh".

From day one, we kicked ass as hairdressers. I had just 3 other stylists and myself.
At no time did I ever doubt myself. I said we would be the best, and I made that decision and stuck to it. To this day, I still buy the best of everything that I can.

I get downhearted at the lazy, the uninterested and the cheapskate attitudes of some people. I am at my salons every day. Even on Sunday I have been up since 6 updateing my webshops, adding new products and doing paperwork.

I also invested in systems. I have the best electrics that money can buy, the best lighting I could afford. I have now computerised both my salons and bought what I beleive to be the best system on the market.

I cannot bear the "that'l do" mentality of people who purport to be in business. Either do it well or get a job. Half measure just don't work.

I have worked for salon owners who are non industry, and found it a difficult experience. I watched stylists run rings round them regarding stock/timings and myriad aspects of the trade. I always felt more vunerable as a young hairdresser without a "top" stylist to go to with hair problems. As a salon owner now, I am the most knowledgable person in my salon in all aspects of hair and beauty. My staff know I can help, advise and step in if needed. They also know they cannot get anything past me.

I felt it important to set the standards, keep the bar high, and be secure enough in my own abilities to celebrate the successes of the younger generation coming up behind.
I learn from their creativity all the time, and they learn from my experience and knowledge. It works.

So I do believe success in business is down to the following;
1. Enough money to set up
2. A good list of clients built up first
3. Being good at what you do
4. Being a good leader, and able to inspire others
5. Attention to detail
6. A huge work ethic
7. A constant thirst for new ideas and knowledge
 
Something to consider:
You need to know how to run a business as well as how to do nails/beauty/hair.
There are lots of books out there to help you in this. You don't need to buy them; you can borrow them from the library.
Here are a few of the ones which have helped me.

Sun Tzu: The Art of War for Managers - 50 Strategic Rules: Amazon.co.uk: Gerald A. Michaelson: Books

The One Minute Manager - Increase Productivity, Profits And Your Own Prosperity: Amazon.co.uk: Kenneth Blanchard, Spencer Johnson: Books

http://www.amazon.co.uk/Evil-Plans-...=sr_1_1?s=books&ie=UTF8&qid=1318157405&sr=1-1

The 7 Habits of Highly Effective People: Amazon.co.uk: Stephen R. Covey: Books

And bizarrely:

http://www.amazon.co.uk/Secret-Rhon...=sr_1_1?s=books&ie=UTF8&qid=1318157463&sr=1-1

All of these have given me something of value. Some of them will not resonate with you, but I guarantee that you'll learn something from every one of them.
 
I think you can build a business with limited funds but perhaps not nails/beauty. I did my accounts last week and have spent around £8000 setting up (that does not include furniture - so we only needed 2 nail desks and 4 chairs - we had a treatment room/couch etc already).

We only opened 5 weeks ago and hey this week we actually covered the products used and rent - so that is a start (we are having problems though but that is in a different thread).

The money to do this business came from our other business which is retail body jewellery - store based and internet. This business I started with £300 around 5 years ago, kept reinvesting all the profit and it grew and grew. Admittedly hubby was working and keeping us so that meant it could all be reinvested. When we first started we would take only 50p a day sometimes - but I was so so determined. Within a few years I had it up to over £2500 a week. Hubby left work and works in the business and my daughter works part time whilst she does A'levels, so we are a real family business - along with 2 other staff who are like family to us now too.

And now we have opened the nail/beauty business nearly all my energy is going on that - it is a totally different type of business that I am use to and I am very very determined. But I must also not neglect the other business either so its a lot of very hard work at the moment.

So I think it depends on what business you are starting, how you start - does your business have high overheads etc. Also a very very important saying to remember is 'turnover is vanity, profit is sanity'. A large turnover means nothing if its all going out in expenses. What is important is profit and you need to always know how much trading profit you are making.

Well thats my story.....

xx
 
Let me 1st say Thank you Gigi for such a re-freshing thread.
I have had my salon for just over 8 years and recently expanded it to include hairdressing in January. It has been a long hawl for me to get the beauty business as sucessful as it is and now I'm starting all over again with the hair salon.
When I hear youngsters on here asking about setting up a business and say 'What do I need to do?' I just want to scream. 'DON'T DO IT.'
But SG is a fountain of knowledge one which I find lately is not being best used.
As for capital.......... God yes you need to have all your ducks in row before you start. I invested all my savings into my business and as Gigi said never once allowed myself the thought that it might fail. I think if you believe like that then don't even start.
We put everything we have into our businesses and then some. You have to be prepared to give up everything to do it. And then strive to be the best.
I want to be the best and with this in mind will always aim higher. xx

Believe you can and you're halfway there.
Theodore Roosevelt
 
I think you can build a business with limited funds but perhaps not nails/beauty. I did my accounts last week and have spent around £8000 setting up (that does not include furniture - so we only needed 2 nail desks and 4 chairs - we had a treatment room/couch etc already).

We only opened 5 weeks ago and hey this week we actually covered the products used and rent - so that is a start (we are having problems though but that is in a different thread).

The money to do this business came from our other business which is retail body jewellery - store based and internet. This business I started with £300 around 5 years ago, kept reinvesting all the profit and it grew and grew. Admittedly hubby was working and keeping us so that meant it could all be reinvested. When we first started we would take only 50p a day sometimes - but I was so so determined. Within a few years I had it up to over £2500 a week. Hubby left work and works in the business and my daughter works part time whilst she does A'levels, so we are a real family business - along with 2 other staff who are like family to us now too.

And now we have opened the nail/beauty business nearly all my energy is going on that - it is a totally different type of business that I am use to and I am very very determined. But I must also not neglect the other business either so its a lot of very hard work at the moment.

So I think it depends on what business you are starting, how you start - does your business have high overheads etc. Also a very very important saying to remember is 'turnover is vanity, profit is sanity'. A large turnover means nothing if its all going out in expenses. What is important is profit and you need to always know how much trading profit you are making.

Well thats my story.....

xx

What a story !
You seem to tick all the boxes from the original quotes that started this thread, about determination, hard graft and having the capital to get going.

What a motivational thread this has been to read !!
 
Thanks for this post, and all the contributors. I have met with success quickly since my business started the end of June and it's been a laborious labour of love! Love working as a nail tech now and wish I had changed careers years ago! It's been tough and rewarding and some days I wonder if I'm going to pop a vein in my forehead, but then I read your posts and suddenly I realize I'm ok, I'm doing fine and I will be successful for years to come! Big hugs to you all!
 
What about Linda's last but not least important point? Having the money to start up and maintain your business until you get going and start to make something out of it?

So many posts here from those who want ...
The cheapest products
The cheapest training
Go to ridiculous lengths and risks to buy from illegal suppliers thinking they are saving a penny or two
Ebay mentality

I can only assume it is because they do not have the funds to start a business and yet without quality training and products, they never will have a business at all. Do you think they can succeed?

What is your feeling on this aspect of capital to start as you mean to go on?

I really don't think that people who want to do everything on the cheap can't afford to do things the right way. I think they feel they know better and that the nail industry is just out to get them, or trick them. It's really an annoying attitude. They look at me like I'm a gullible fool for spending so much on my tools, training, products, etc.

I have made it through the first (and hopefully toughest) year in business. I spent the last year in my job paying down debts and accumulating all the supplies and equipment I would need to get started. I moved to a new city, so had no clients to start with. I arrived with about 3 months of expenses (personal and business) in savings. Certainly not what most financial advisors would recommend. But everyone has to start somewhere.

I was fortunate enough to have a clear picture in my mind of what my success would look like. And my intentions are genuine. I love pampering people and making them feel good about themselves, confident with their appearance. I also love sharing the success I've had with other nail technicians. I think these are the two most important things to success. I believe that if you love what you do, the money will come.
 
I really don't think that people who want to do everything on the cheap can't afford to do things the right way. I think they feel they know better and that the nail industry is just out to get them, or trick them. It's really an annoying attitude. They look at me like I'm a gullible fool for spending so much on my tools, training, products, etc.

I have made it through the first (and hopefully toughest) year in business. I spent the last year in my job paying down debts and accumulating all the supplies and equipment I would need to get started. I moved to a new city, so had no clients to start with. I arrived with about 3 months of expenses (personal and business) in savings. Certainly not what most financial advisors would recommend. But everyone has to start somewhere.

I was fortunate enough to have a clear picture in my mind of what my success would look like. And my intentions are genuine. I love pampering people and making them feel good about themselves, confident with their appearance. I also love sharing the success I've had with other nail technicians. I think these are the two most important things to success. I believe that if you love what you do, the money will come.

Thanks Jesse for the wise words.

I too think that the ones with the cynical and cheap approach will never make it. Sad really, but they seem to go into the business with no game plan at all, no work ethic, no love for it and therefore no passion. They think they can 'do nails' (you know, that thing WE call WORK) when they want, they are not vocational, it is not about the client but about them and what they can squeeze in around their family and other things they would rather do. This attitude does not make success.

To gain Real success, it calls for considerable sacrifice in some areas ... No getting around that one. Making those sacrifices does not mean that one neglects ones family by doing so. It does irk me :irked: when some pull 'the family card' out and play it like ... They are ever so noble and family always come first and imply that those who give their drive and energy to their business are putting that before their family ... Well I have news for you!!

It means that sometimes the family does come second for the moment while we build something long term for their future! And don't forget it!
 
It means that sometimes the family does come second for the moment while we build something long term for their future! And don't forget it!

Yes, even if we are "Superwoman" it is actually impossible to do EVERYTHING, so yes, in my house we have takeaways and ready meals in amongst home-cooked food, we have nursery and babysitters, sometimes we even have a laundry crisis:eek:

But the alternative is not even under consideration. I cannot and will not spend my entire day being a domestic goddess, on the bread line.
 
Yes, even if we are "Superwoman" it is actually impossible to do EVERYTHING, so yes, in my house we have takeaways and ready meals in amongst home-cooked food, we have nursery and babysitters, sometimes we even have a laundry crisis:eek:

But the alternative is not even under consideration. I cannot and will not spend my entire day being a domestic goddess, on the bread line.

This is exactly what I can't wait for to change. The last 5 years have been a struggle beyond belief for us and still is. My husband is fully aware and ready for the fact they will be coming second from now on and all because he knows that eventually, it will all be worth it, incredibly worth it a) because I'll be happy, his ultimate reason for being so behind this decision, I'll be doing something I love, I'll be channelling my energy into something that is not revolved around my house or my son and will feel I have purpose once more and b) in a few years time (or sooner if we are really lucky), we will hopefully be reaping the benefits of all that hard work and won't be on the breadline anymore, I'll be contributing my own money to our finances once again, that's a really good feeling.
And tbh, I'm looking forward to the break of not doing housework and cooking 24/7!! :D
 
Brilliant thread and responses so far. Congratulations to all the "grafters" out there....:hug:

I'm not going to say much, but I have left my office job and have set up in beauty full time. My mother told my sisters "if I had known she would have been so happy and successful, I would have encouraged her to leave a long time ago."

All I can say people, believe in yourself, work hard, don't offer shabby services, treat people the way you want to be treated and you will succeed. You NEED to know what is going out, what is coming in and what is in the middle (IMPORTANT)! :lol:

If in doubt, have a love affair with Salon Geek. There are some fabulous geeks on here. Pick the bones out! Listen to every word they say and you will succeed; I did.:hug:
 
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I think my contribution is to keep focus. It is very easy to go off target and be swept in other directions - this is fine if it is planned but keep on track for success. I started my beauty career in 83 and made several attempts to get it right. I see threads about unscrupulous salon owners, friends copying ideas etc etc and I want to tell these people to keep going and forget about the cr*p - it really takes up to much head room. Concentrate soley on your own business, get the training, use the good stuff and be consistent.
 
I bought my salons as going concerns, so had the bare bones already. We had 5000 to do signage etc. First thing I did? Opened a Redken account. They came and dressed my salon up in marketing stuff and shelving units to hold my new products.
I decided to get the most beautiful sign that I could afford. I wanted to look "posh".

From day one, we kicked ass as hairdressers. I had just 3 other stylists and myself.
At no time did I ever doubt myself. I said we would be the best, and I made that decision and stuck to it. To this day, I still buy the best of everything that I can.

I get downhearted at the lazy, the uninterested and the cheapskate attitudes of some people. I am at my salons every day. Even on Sunday I have been up since 6 updateing my webshops, adding new products and doing paperwork.

I also invested in systems. I have the best electrics that money can buy, the best lighting I could afford. I have now computerised both my salons and bought what I beleive to be the best system on the market.

I cannot bear the "that'l do" mentality of people who purport to be in business. Either do it well or get a job. Half measure just don't work.

I have worked for salon owners who are non industry, and found it a difficult experience. I watched stylists run rings round them regarding stock/timings and myriad aspects of the trade. I always felt more vunerable as a young hairdresser without a "top" stylist to go to with hair problems. As a salon owner now, I am the most knowledgable person in my salon in all aspects of hair and beauty. My staff know I can help, advise and step in if needed. They also know they cannot get anything past me.

I felt it important to set the standards, keep the bar high, and be secure enough in my own abilities to celebrate the successes of the younger generation coming up behind.
I learn from their creativity all the time, and they learn from my experience and knowledge. It works.

So I do believe success in business is down to the following;
1. Enough money to set up
2. A good list of clients built up first
3. Being good at what you do
4. Being a good leader, and able to inspire others
5. Attention to detail
6. A huge work ethic
7. A constant thirst for new ideas and knowledge

This is a fantastic post Dawn. I had nowhere near enough money to start my business but there was no way I was going to let that stop me. I did have to do things differently to how I wanted though. I had my salon at home first and did this for two and a half years to build up my clientele before I felt ready to move into my first salon. I ran this business just the same as I would if we were in a proper shop, I had the best product and equipment that I could afford to buy, a professional uniform and signage and went on every training course that was available to me.

I decided to move the business into a shopfront about a year and half ago as I had 1 staff member working part time and we were ready to expand the business. Dawn also gave me some great advice back then about expanding to become a hairdressing salon rather than just sticking with nails and beauty. I am not a hairdresser but I saw huge potential in having a salon that specialised in all aspects of hair and beauty. This was a huge challenge for me and I made plenty of mistakes along this new path. I started out with the wrong choice of hairdressing staff by choosing experience over passion for the job but now have an amazing team of creative, passionative, skilled staff.

We've just moved from our tiny suburban salon after only one year to a slightly bigger salon right on the main highway of the city. Opening my business has been the most challenging thing I've ever done but I would do it all over again in a heartbeat. I also work on the salon floor every day that we are open. The staff are always at me to start taking one morning a week off for myself but I cant see that happening anytime soon, I would sleep at my salon if i could :lol:. I make a point of knowing all the hairdressing products and treatments and knowing all the theory of the industry even though I don't know alot of the technical side of things as I choose to manage the salon myself and not have to put my trust in a salon manager and every day we are all able to learn and grow by working together.
 
Don't you find it interesting that this post has had nearly 2000 hits and only 54 replies?

I only hope that the wise words of advice have been read and appreciated by those that need it. :hug:
 
I realized I never really put my 2-cents in as to why I believe I have been successful. I keep my nose to the grindstone. I eat, sleep and breathe nails. Heck I even dream about nails while sleeping! I only wish I could remember the fabulous nail designs I created! :D Attitude and determination have played a huge part. I said to a friend who is a new nail tech too (who's struggling to get clients) "I want my name on the lips of everyone in my town who wears nails and I want my nails on their fingers!"
 
I realized I never really put my 2-cents in as to why I believe I have been successful. I keep my nose to the grindstone. I eat, sleep and breathe nails. Heck I even dream about nails while sleeping! I only wish I could remember the fabulous nail designs I created! :D Attitude and determination have played a huge part. I said to a friend who is a new nail tech too (who's struggling to get clients) "I want my name on the lips of everyone in my town who wears nails and I want my nails on their fingers!"

I love this attitude .. it is called PASSION .. without it you cannot be successful .. nor can you sell yourself and what you do to to others. :hug:
 
I inherited money when I turned 21, and decided (at 22) to put it o good use by starting my own salon.

I had managed the salon I was working in, and when my boss returned from her mat leave, I got a pay cut of £125 a month. It was a kick in the face, I was really hurt and then realised - I'm working hard, very concientious - for someone else. I knew I had the skills, not only in hairdressing but in running a shop, customer skills etc, so decided to start up on my own.

I didn't even think about it going belly up. I knew I had to make £100 a day to cover all the bills and pay myself what I had earned in the previous salon. I didn't really think about what would happen if I didn't do that.

I got a website through Mr Site for about £21 - and I probably made that back in the first week of it being live. So I would suggest to every - get a website with your price list on it.

I leaflet dropped in the evenings, I worked any hours that clients wanted me and by 18 months in, I had doubled my wage.

Things have all changed since then - I would advise everyone to get a lease, a watertight one - I didn't then got kicked out of my building cos my landlord saw how well I was doing.

I have now moved to a smaller salon, where it is just me and two chair renters. I make enough from my chair renters to cover my rent and electricity bills, my long term goal is to have the rent cover all my outgoings and to have my earnings as MINE! I would also like to work back up to having another full time hairdresser working for me.

I really enjoyed reading everyone else's posts :)
 
When I started out I was so naive but full of enthusiasm I really did learn on the job - I made lots of mistakes but to be honest if I had not made those mistakes I would not be in the position I am in now with a lovely salon, great staff and loving what I do (I might add it has taken me 20 years to get to this stage:lol: if I had had SalonGeek back then it would have been easier).

My main advice would be...
Have some money saved and spend it wisely.
Do not waste time on worrying about stuff, dive in and address it straight away - it will not go away by itself and you will often find that once dealt with it was not such a big deal.
Buy the best products, even if you think you cannot afford them - there is always a way - talk to the company you want to deal with and make it work - you will never regret taking on a good product - it will always make money for you - but you must fully commit to it.
Always get advice from the best professionals, listen to it, consider it and make what you will of it and live with the consequences of it - good or bad - never hold anyone else responsible for your success or failure.
Be realistic about what you can achieve - most things have a ceiling and the higher the ceiling the higher the risk - know how much you are prepared to risk and what you want in return.

It never occurred to me it would not work and I always knew it would be hard work, I think you need to be stubborn, obsessive, open minded and have a plan but also be adaptable to change.

This is a fab thread, really interesting and inspiring to hear about peoples experience x
 

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