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Opening a new salon
Paul Simbler is one of three directors of award winning hairdressing group hob salons. With 10 company owned and four franchise salons, Paul is well versed in opening salons from choosing the right location through to financial expenditure. Paul explains the key factors to concentrate on when opening your own salon:
Location, Location, Location
Look at the type of shop, which surrounds you, ensuring you have a strong position and high street presence. Try to position yourself near blue chip companies such as M&S and Boots to ensure optimum trade and exposure.
Legals
Make sure that you have a strong legal team to support you in this venture. If the site is not freehold but is leased to you, it is vital that you make sure heads of terms are favourable and that you have the relevant clauses in place. This might include rent-free periods, break clauses and being able to sub-let and assign.
Accounts
Take the time to carry out a forecast profit and loss to give you an idea of your financial projections for the coming month or year. In addition, take into account your fixed costs including rent, electrics and gas once you have found your property and plan accordingly. Try to be conservative when calculating your turnover forecasts to ensure that you do not over promise and then feel the damages if you under deliver. Lastly, never over borrow
Salon fit out
Make sure you get two or three quotes to secure the best deal possible. The cheapest route is not necessarily the best in the long term and therefore if you pay for higher quality goods now, stretching the budget at the start will reward you with a salon that has greater longevity in the future.
Staff recruitment
Have set criteria. Do not fall into the trap of recruiting staff because they are available and in turn compromise on what you actually need. Make sure you have a strong reception. Being the first port of call for anyone entering the salon, take time in this area.
Product company
Having a strong house behind you supplying quality products, training and on going business support is a fantastic resource to have. Wella Professionals and hob salons have a great relationship, supporting the company in numerous ventures from financing through to supplying goodie bags for competition winners and events. This support can be instrumental in business success.
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