Want to open your own salon? The LHAA says "Go for it"!
There has never been a more exciting time to enter the hair and beauty industry. According to the London Hairdressing Apprenticeship Academy (LHAA), there are over 55,000 businesses in the hair and beauty sector in the UK alone, employing more than 245,000 staff. The result is a combined annual turnover of £6 billion every year – an impressive 1% of the UK's total economy.
But the best news is that the industry is continuing to grow, and the demand for the skills of professional hairdressers and barbers is increasing.
In its recent release ‘Opening a salon: Here's what you need to know', the LHAA offers a wide range of advice and inspiration to aspiring salon owners, including useful hyperlinks to recommended business plan templates (roughly 1 in 3 UK businesses fail during their first two years, and one of the major reasons is because many of them lack a coherent business plan) and guidance about start-up costs, rules and regulations, the importance of location (If you can't find the right property right away, it may be worth holding off your plans for a while) and how to do some ‘out of the box' marketing to let your future customers know you've arrived.
But, as the LHAA reminds us, the hard work doesn't stop there. In the fast-paced and highly competitive world of hair and beauty, there's no room for complacency. Even when your salon is doing steady business, it is vitally important "to continuously step up your efforts in both marketing and service to keep the ball rolling."
The LHAA's guide is a timely primer that warns of the pitfalls but never loses sight of the benefits of opening a salon. As with any business, there are plenty of challenges to overcome, but becoming a salon owner is also extremely rewarding and, for anyone thinking about taking the leap into salon ownership, the LHAA's message is clear: hair and beauty is a vital and vibrant industry that will – quite literally – never go out of fashion. Thousands of others have already found success as salon owners and become a valuable part of their local economy. Don't be afraid to join them.