Things to Think About Before Starting Your Hairdressing Business
The COVID-19 lockdowns of 2020 and early 2021 were a time of contemplation for many people in the UK; whether furloughed, working from home or between work, much of the UK had more time than ever before – time to explore hobbies and discover new passions. Many people leveraged these new skills into a new form of work, with over 835,000 new businesses started in 2020, during the worst of the pandemic.
Image Courtesy: gpointstudio – www.freepik.com
Your new-found passion may have been borne of necessity, cutting the hair of friends and family while salons were locked down, and finding you actually quite liked it. But how can you effectively transition from conducting your business in the middle of your kitchen to a thriving small salon? Here are some of the things you should be thinking about, ahead of starting up your own physical hairdresser’s.
Space for your Business
A hairdressing business can only grow so much from your own home. You should be thinking about a base of operations for your craft – a business premises, to attract new customers and increase your visibility. Not all hairdressing businesses need a premises though.
There may well be a niche in your area for a mobile hairdressing service, visiting clients and cutting their hair! Either way, whether or not to station yourself on a shop floor is an important consideration to make.
Equipment & Training
Be sure to think about the tools you’ll need to offer your services, from the essentials down to luxury items. Novice hairdressing sets are easily available but when thinking about your future, it’s time to invest in professional quality equipment. Consider researching things like powerful and high tech hairdryers, and don’t forget to think about sourcing branded shampoos, conditioners and hair styling products.
While you’re spending money on the tools of your trade, now is also a good time to think about professional training. If you don’t already have on, getting a diploma or certificate in hairdressing and barbering can make all the difference to your business, inspiring confidence in new customers.
Legal Admin
Unfortunately, businesses can’t be all about your passion. When moving into your premises and expanding your home born business, there are legal considerations to make to keep your business on the right side of legislation, and above water financially. You’ll need to register your business with HMRC, as one of two things – a sole trader, or a private limited company.
Sole trading indicates you are operating as a freelancer, and any company profits are your income, while limited companies cost money to set up, but enable you to hire staff with all the benefits PAYE employment provides. If you’re opening a salon, you will need to register as a limited company – at which point, it would be wise to consider small business insurance to protect you and your employees.
Staffing
Speaking of employees, staffing is the last important consideration for your business. If you’re opting for a limited company then you can offer employees the perks of full-time PAYE employment, but may be running higher costs as a result.
An alternative could be to share salon space with other sole traders, sharing custom between yourselves as a united front. This comes with its own pitfalls, from irregular business to the standing costs of chair rental.
Ready to take your lock-down born hairdressing business to the next level, then don’t forget to take these crucial considerations on board to ensure it’s success and longevity!
