For many beauty professionals, the idea of owning their own business is synonymous with beauty industry success. But sometimes obstacles and fear of failure keeps an entrepreneur from taking action.
Use this checklist to discover how the Salon Suite business model offered by MY SALON Suite is uniquely designed to overcome the common challenges most new business owners face.
If you love the idea of owning your own Salon Suite business, you’re not alone. An Entrepreneur.com article lists 20 reasons to consider starting a business that covers everything from having more control your own time, job security and more money to the success story that you will have to tell to friends, loved ones and peers – not to mention the good that your Salon Suite can do in the lives of your clients and the community. But only a small percentage of those who say they want to own their own business actually make it to the startup starting line. For some, this comes down to fear or the feeling that they aren’t well-prepared or lack the support needed to start a business of their own.
We took a look at a startup checklist and were encouraged to find that our Salon Suite business model is uniquely designed to help beauty industry entrepreneurs succeed in starting and owning a salon business. Here’s the checklist reimagined for beauty professionals considering Salon Suite ownership.
Suite Success Secret #80: 10 Things Successful Salon Suite Owners Do
1 – Understand Cash Flow and 2 – Build a Growth Plan
Our members have access to cash flow management tools and financial management resources so they always know their numbers. Our members also have access to marketing collateral, daily marketing calendars and other growth tools as part of our Path to $100K that simply aren’t available anywhere else.
3 – Have Needed Capital and 4 - Stand Out from the Crowd
Our Salon Suites give beauty professionals a low-cost path to owning a business that can be totally branded so that it stands out from the crowd. Our members personalize everything from their Salon Suite’s name to décor, ambience and the overall client experience.
5 – Know Their Customers
Here’s where the Salon Suite business model offered by MY SALON Suite locations surpasses others by leaps and bounds. Our Suite owners continually point to the privacy and intimacy that Suites offer as a plus in attracting and retaining clients.
6 – Test the Market
The scale of business ownership with Salon Suites makes it easy to test the market with point-of-sale retail and services at a low cost.
7 – Build a Dream Team
Salon Suite ownership represents the ideal for many beauty professionals. They enjoy the benefits of business ownership without the headaches that come with trying to excel as beauty artists while simultaneously managing a team of other stylists. In fact, many of our Suite owners say that one of the reasons they love owning a Salon Suite is the lack of drama! They also continually point to a collaborative atmosphere among peers at their location and the support of the franchise as valuable partners in their success.
8 – Develop an Engaging Culture
Few things are as discouraging to any type of professional as having to go in to work day in and day out to a negative culture or a culture that isn’t a good fit for them. MY SALON Suite owners are free to create a culture that engages both them and their clients.
9 – Are Flexible and Adaptable
From day one, our Salon Suite owners have the ability to personalize and change their businesses so that it fits their clients well and provides the lifestyle and work environment they want. They have the freedom as business owners to experiment with new products and services, work in teams, change their menu of services or hours of operations and more.
10 – Find Mentors
We touched on the fact that MY SALON Suite owners note a strong collaborative atmosphere. While they can work and operate their businesses independently, they have only to step out their front door to find peers and support staff to help brainstorm ideas, find solutions to challenges they are facing or get advice from other experienced beauty professionals.
The bottom line is this: The success of our Salon Suite owners is our success. Our members enjoy a level of support at the local and corporate level with tools and resources that can’t be found elsewhere. We invite you to tour one of our locations and find out more about the ways MY SALON Suite could be the ideal path to business ownership for you.