Owning a Beauty Salon

Paper Summary:

This paper stresses that a beauty shop business needs a business plan including short term and long term business goals, a financial assessment, a detailed list of necessary equipment, a plan for partnerships, if salon booths are to be rent out and a marketing advertising strategy. The author points out that, as more and more women have careers, they need to look professional, which is a look they often cannot achieve on their own especially when pressed for time. The paper discusses franchise businesses such as Regis Corporation with 10,000 salons all over the country and Haircolorxpress, which specializes in color and custom-blended cosmetic services and aims to have 10,000 shops worldwide in the next ten years.

Table of Contents
Introduction
Story of Long-Ago Success
Benefits of Ownership
Thesis: Owning Your Own Salon Can Be Profitable and Enjoyable
Preview
Body
Franchise Salons
Buying an Existing Salon
How to Start a Salon from Scratch
Location
Business Plan
Operational Plan
Interview
Trends and Innovations
Examples of Success
Conclusion
Continuing Need for Beauty Salon Services
My Vision of a Successful Beauty Salon Business

From the Paper:

"Many salon owners are finding that it pays to diversify, that is, to combine hair care with other services. Ruth Earle, for example started out alone in a small room in the local fire hall. The first year, 1988, she had only about 30 clients. Business did pick up, though, so that she was able to open a shop in a better location and eventually employ four people. However, in 1992 the fishery moratorium came into effect, and people in her town had to move elsewhere to find work. Ruth had to lay off two employees in order to stay open. Then in 1995, she invested in tanning equipment as an additional service to clients. Waxing also got popular, so she started to offer that too."

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