4 Things You Need to Open Your Own Cosmetology Business
By Marcus Lansky
Image via Unsplash
If starting a business sounds like the most rewarding and invigorating path for your professional future, there are a few things you need to consider. For starters, learning everything you can about your field is a must. Then, you’ll need to hone your approach to the business and branding launch.
And finally, making connections is a necessity in any field – but especially in cosmetology. Check out these four things you need to open a cosmetology business, courtesy of Chrome Institute of Cosmetology.
1. A Hands-On, Real-World Education
Learning by doing is one of the best ways to develop skills and confidence in any subject, and cosmetology is no different. While you’ll need to study print materials as well, a trade school offers you the chance to explore products and techniques in a learning environment.
With guidance from experts in the field, your foray into cosmetology will indulge your passion for beauty while teaching you transferable skills. Enrolling in cosmetology classes means you receive a hands-on education so that you’re chair-ready upon graduation.
By the time you leave your trade school program with a diploma in hand, you’ll know more than just the basics of cosmetology. Learning in a classroom-style salon also exposes you to the way salons operate on the back end. Running a business isn’t easy but learning from leaders in your field means you’re off to an excellent start.
2. Solid Business Moves
Launching a business takes both an entrepreneurial mindset and a focus on the less glamorous aspects of running a company. While your entrepreneurial spirit is likely what drives your efforts, you also need to delve a little deeper into the business side of things.
Keeping up with your local business licensing requirements is crucial for operating a safe and responsible salon. You’ll also need a source of funding unless you have substantial savings at the ready. The good news is that many loan programs, such as 7(a) Small Business Administration loans, can provide the financial assistance you need to get started.
Beyond the basics, you’ll also need to develop and promote your brand. Fortunately, that part might be simpler than you expect. Sprout Social suggests using social media as an easy way to promote your salon and services to attract customers.
3. An Entrepreneurial Approach
Business formation is another crucial step when planning your store opening. For cosmetologists who plan to work in someone else’s salon, your priority is bringing in enough clients to cover your chair fee. But for a small business owner, there’s more to think about – like future growth.
Establishing an LLC is a solid option for any cosmetologist starting out with a brick-and-mortar location of their own. You can enjoy certain tax perks with an LLC, and the structure offers flexibility as your company grows and evolves. You can DIY the paperwork, or hire a formation service for an affordable and timely filing, but splurging on an attorney isn’t necessary. Be sure to check your state’s requirements before filing, though.
Some potential avenues for growth include expanded service offerings (like massage and more) or selling products in your salon; note that Statista confirms the cosmetics industry continues to grow exponentially.
4. Solid Networking Skills
Developing relationships with other business owners (plus your clientele) can afford you endless opportunities to grow your brand. For example, connecting with your salon’s next-door neighbors could lead to business collaborations or even earn you referrals.
Of course, attending a reputable trade school like Chrome Institute of Cosmetology is another excellent way to network. Both your instructors and fellow cosmetology students may prove to be great sources of information, inspiration, and future business opportunities. Plus, if your trade school offers internships, you may build relationships through the opportunity.
For anyone who’s dreamed of opening their own salon, with a cosmetology degree in hand, you have options. A clear path to salon ownership lies ahead, and it might be easier to achieve than you expected. The right education, business strategy, and networking approach can do wonders for your entrepreneurial plans as a cosmetologist!
If you’re ready to learn cosmetology from the inside out, contact Chrome Institute of Cosmetology for information on enrolling in classes – and pursuing your dreams – today!