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Starting a beauty salon requires creativity, business skills and, of course, enough money to pay for all of the start-up costs. While it’s hard to come up with an exact figure, it’s possible to have an estimate once you consider all of the different factors and requirements that are necessary to start a salon. Start-up costs will vary based on individual goals and the business model you follow, but the following information will apply to anyone interested in pursuing this route.
The first thing you need to figure out is the type of beauty salon you wish to open. Decide whether you’ll be focusing on hair, nails, facials or all of the above. Every category has different expenses and knowing your focus will help you get a better estimate. Next, you’ll need to figure out if you’re going to rent or buy the location and how big you would like the operation to be. The cost of the physical space may include a security deposit, a couple months’ worth of rent that you will have to provide upfront, a down payment and realtor fees, among other things.
Once you finalize these aspects, you can move on to other costs, including certification, licenses and permits. You cannot operate a business without the proper license and you cannot sell beauty products from your salon if you do not have a permit for it. Working stylists must have legitimate certification for their clients to see and without these things, your business will not succeed. Costs vary depending on the city you’re in and the classes you attend, but obtaining these is a must.
Next, you’ll have to look into salon equipment without which you cannot work. You’ll need styling stations, chairs, carts, trolleys and of course products. It’s best to make a list of all the things you need so that you can price them accordingly and get a better idea of the total cost. You’ll also need a pay station, so a computer and POS system are a must as are professional employee uniforms.
There are also recurring costs you need to consider, such as payroll, mortgage or lease payments, insurances, wages and new equipment, just to name a few. The reality is that the costs never end so even after the initial start-up costs you will continue to have a long list of things you will have to pay for. Starting a new business is not easy, which is why you need to take the time to figure out if the timing is right so that you can keep up with the financial aspect.
If you are planning on opening your own beauty salon, Prota Beauty Supplies can help you get started. They provide nail salon supplies, including chairs and other salon furniture. If you’re in the Burnaby or Vancouver areas and require salon supplies, they are the supply store of your dreams with great products and fair pricing, so give them a call today!