NEUS PASCUAL - Nov 5, 2019

5 Innovative Ideas to Start a Hair Salon Business in 2020

Today the global beauty industry is a $532 billion business. The U.S. currently is the world’s largest beauty market, with about 20% share, followed by China (13%) and Japan (8%). While projections for growth vary, most agree it will continue to advance at a 5% to 7% annual growth rate to reach $800 billion by 2025.


With demand for beauty therapy treatments and services remaining high all around the world, this market is a lucrative one to get started in. But what’s key to a salon or spa’s success is that, alongside giving flawless treatments, you also provide a relaxing and enjoyable experience. 

So... why not opening your own hair salon business?

start hair salon business

Do you want to start your own hair salon business? FIND OUT HOW YOU CAN DO IT

How to Open a Successful Hair Salon Business?

There is much to consider before starting a hair salon business or any other kind of business related with beauty. And it can all get very confusing, especially if it is your first go at any kind of business.

How to open a salon?

Where do you even start?

How much does it cost to start a salon?

How do you prioritize?

It can be hard to figure out your course of actions, so we have prepared a shortlist of things to keep in mind when opening a salon.

1. Create a Business Plan

To start your own hair salon business, you need to have a business plan in place for how you’re going to earn money, how you’ll manage your finances, and day-to-day operations. There are plenty of resources available to help you make these important decisions that will shape your business. For example the Professional Beauty Association offers their members access to business blueprints that can be customized.

2. Determine Your Target Customers

Many of our business decisions will depend on what type of customers you plan on serving. It’s not enough to say that you want a general hair salon.

3. Find a Location and local permits

What do you need to open a beauty salon aside from a good location? Think about the interior. In terms of the plan and design of your salon, it should be comfortable for the clients as much as for your employees. Also, don’t forget about the documents you need to prepare before start your salon business.

4. Buy the necessary furniture, equipment, and products 

Professional equipment costs a lot and they can significantly spike up the average cost of the budget you will need to open a hair salon business. For example, new equipment for a full hair salon might cost you around $27,000.

hair salon business ideas

5. Hire your team

Many salons have more than one stylist on hand to serve a variety of customers. This is often helpful to improve profitability, especially if you have a dedicated retail space. Keep your target customers in mind through the hiring practices. Your stylists should not only have the talent to offer your desired hair services, but they should also be personable and friendly so they can converse with your clientele throughout the experience.

6. Develop your marketing plan

You should start marketing your new salon even before opening, so you can build some buzz for your initial launch. You should start a website,  invest in some local online ads or alert your local media outlets about your new business. A launch event or some type of special promotion could help you make the opening more newsworthy. However, you should also create an ongoing marketing strategy for once your salon is already up and running.

7. Take care of the technical things

Computers, software, and the Internet make our lives easier, and it can certainly improve any business outcomes. You can automate practically any business process, improve advertising, and customer care.

“Failure is not to be feared. It is from failure that most growth comes.”
-Dee Hock

All of us know that starting a business it's no so easy, so here you have a:

List of 5 hair salon business ideas:

1. Hair and lash Studio as Amazing Lash Studio

The Amazing Lash Studio brand started with just a few locations and heard quickly that guests like you love the glamorous look and feel of our eyelash extensions and hair services.  As word of the brand spread, they set to work to bring their affordable, patented services and products to as many talented and qualified stylists as possible — so they could bring them to you!

  • The initial investment is about: $224,659.
2. Massage and beauty studio as Massage Envy

hair salon business opportunity - massage envy

Got its start in 2002 with the aim of making massage services more affordable with a membership-based business model. In 2009, the company expanded its services to offer facials and other spa services in many of its locations as well.

  • The initial franchise fee is: $45,000.
3. Kids hair salon as Sharkey's Cuts For Kids

At Sharkey’s Cuts for Kids, they know that kids and parents want something different with their haircut experience. So they provide it all: a superior haircut with warm, experienced stylists in a meticulously clean place filled with fun!

  • Initial investment from: 144.000$
4. Barbershop franchise as V's Barbershop Franchise LLC

hair salon business opportunity - v's barbershop

V's Barbershop was inspired by founder Jim Valenzuela's fond memories of going to barber shops with his father, and his desire to recreate that experience with his own son. He opened his first shop in 1999, and in 2005, he began franchising. V's Barbershops offer hair cutting, shaving, massages and facials.
  • Initial investment from: $192,500
 
5. Hair boutique salon as Beauty Jeff
One of the hottest hair salon business opportunity in 2020! It is entering in the market as a hair salon with great growth potential, they offer the services that people looks for by simplifying the processes and management of your salon, what is called Smart Beauty. They bring innovation and technology to the physical point of sale by linking the online world with the Jeff app. They have a new attitude that differentiates them from traditional salons. 
  • Initial investment from: US$ 38,000
Beauty Jeff franchise opportunity
Do you wanto to know more about Beauty Jeff? Click here
Doubting about the investment in a hair salon business? You can red HERE the Top 10 Reasons to invest in a Beauty Salon Franchise Business.

 

 

Written by NEUS PASCUAL