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The rules of business
 Ben White, director of Eleven in London’s Mayfair, offers his golden rules of setting up in business.
1. You will need a good solicitor so rely on word of mouth to find someone who's done a good job before. A solicitor is essential for drawing up contracts between you and the landlords or if you're buying a business, buying goodwill (e.g. there's people working there who will transfer into your employment) to give you advice on employment law and more.
2. if you're in a partnership make sure you have contracts written up between you – as happy as you maybe in the beginning you don't know what the future might bring.
3. if you or your partner is a key worker in the business get health insurance; you need to be covered for in case you can't work.
4. Always have regular meetings so everyone knows what’s going on.
5. Implement a training system amongst your staff. This helps with motivation and keeps standards consistent.
6. Talk to your product companies and ask them for support. A good product company can help you financially, artistically, and with building your brand.
7. Obtaining finance can be more difficult in the current climate so make sure you have an impressive business plan and mock-up/business projections.
8. Always allow for some PR in your costings. It's an integral part of a business and can help with recruitment as well as clients. Take on a good PR company and supply them with what they need -–usually high resolution salon and headshots and any relevant information.
9. Don't employ a hugely costly architect to design your premises – good looks can come on a budget.
10. Do speak to affordable designers to give you a basic idea of how the salon could look. Don't overlook the practical element of the salon, it should look good but also be functional.
11. Get your branding right – have a logo designed but keep it simple. You can even go to instant print and they'll design you something at no extra cost.
12. Have a disciplinary procedure in place so that there's a definite system and everyone's aware of the boundaries.
13. always implement a bonus scheme for staff and get a brand that you believe in – it's better for retail sales
14. Take advantage of training courses that product companies provide.
15. Reward old clients as well as new _ don't put a 20% off for new clients board outside the shop and annoy your regulars! Market your salon wisely and think about incentives that work for everyone - loyalty cards or complimentary products or treatments.
Important!
For more information on the areas outlined by Ben, click on the relevant tab at the top of the page to access essential factsheets, video tutorials, features and advice – for FREE!
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