HOW TO START YOUR OWN HAIR BUSINESS ON A BUDGET
For those who are not prepared to take risks or do not know how to set up a business and promote it, there is the franchise market. However, if your business is more specific and there is no franchising for this market, we are going to show you some important points so that you can start your company:
1st: Study - learn what you can about this market, supplier, customers and costs;
2nd: Planning - draw up a plan, decide on a physical and/or virtual store, in the first option, think about the location. Define the goals to achieve them according to the capital you have to invest;
3rd: Audience - know your audience, do research. Understand your target audience is going to help you choose the best point for your business and marketing actions;
4th: Promote - nowadays, with the internet and a digital marketing program, small companies with limited capital can promote and grow their business. In addition, campaigns can be well segmented and provide quantitative and qualitative feedback on these actions;
5th: Competitive Advantage - offer a differentiated service or product, stand out in the market. Invest in the training of your team and and other services that could make your brand stand out;
6th: Value - Add value to your product is a competitive differential. Try to show that you have the solutions for your customers;
7th: Technology - Today, in order to have some technological applications or programs, you don't need to have a lot of money and it helps you manage your whole business;
8th: Partnership - Partnership or collaborative economy are market trends, when there are interests in common or services and products that complement each other, bringing benefits to both parties. There are several ways, like: sharing a workplace, offering promotions indicating the partners' products, etc.;
9th: Financial - Hire a good accountant who will be responsible for preparing and issuing the financial documents;
10th: Documentation - Separate the necessary documents for the opening and management of your business.
If your idea to open a business is hair extension, this general information is of great importance, however, you can add others that are specific to this market:
1. Overview - Understand the market, there are two types of materials for hair extensions: synthetic and natural hair;
2. Market - Hair innovation and manufacturing have increased exponentially and industry revenue as well. Many people of different ages and hair types are using extensions, perhaps because celebrities have embraced this trend. Try to understand how the market goes, what are the costs and the risks of opening a hair business in your area;
3. Start - You can start from scratch and learn about your business, or you can buy a franchise that will support your business;
4. Be creative in using decorations - Try to make your salon look as good as possible, it's ar artistic place after all;
5. Buy only the necessary tools and furniture - Since you are just starting, buy only the necessary items for your salon;
6. Make a list of products - Find out what products you are going to need and source them t the most in-budget seller;
7. Give treats out to your customers - Everyone likes treats! Your salon should have a coffee machine, fresh water and maybe some mints;
8. Promote your brand - Now you are all set! You should start promoting your brand in some media and other mediums.
Finally, study the market and try to track your customer whenever possible, offering instructions and showing them that you have knowledge and you are up to date with trends.