Nearly every industry has a variety of business models. Choosing the ideal situation comes down to knowing where the advantages lie.
Leverage the benefits of Salon Suite ownership to start and grow a thriving book of business more quickly in pursuit of your professional and financial goals.
6 Intrinsic Factors that Bring Salon Suite Business Owners Success
One of the most important advantages of Salon Suite ownership might be the community inherent in its business model. Salon business owners who choose the Salon Suite model enjoy access to peers and mentors who know what it takes to build a strong salon brand.
Statistically, business owners who go it alone aren’t as profitable and have a lower chance of success. Micromentor.org notes that mentored businesses increased revenues by 83 percent while non-mentored businesses grew revenues by only 16 percent. Additionally, 83 percent of mentored businesses survived compared to 74 percent of non-mentored businesses.
2. Ability to Focus on Craft
Business owners who go it alone often lose the ability to spend their time on those aspects they love most. Ironically, the reason they went into business – the thing they wanted to do – is often secondary to all of the other concerns that go along with running a business.
Instead of working the business, they often find themselves mired down in property management, personnel, human resources, marketing, accounting and other operations-related responsibilities, with little time to spend doing the work of the business. Salon Suite owners have the luxury of minimized operations-related responsibilities, which means more time working behind the chair, delivering client services, learning new skills and techniques, and so on.
AgilityPR.com notes that 73 percent of business owners want to work on their business in pursuit of long term goals and strategic planning. However, the average entrepreneur spends nearly 70 percent of their time working on operational issues, putting out fires, solving problems, etc., and only about 32 percent of their time doing the work they most want to do.
3. Work-Life Balance
Forbes.com tells entrepreneurs there is no such thing; forget about work-life balance. It doesn’t exist for those who choose business ownership. Not so fast, says MY SALON Suite and Salon Plaza. Those same benefits of Salon Suite ownership that mean you don’t have to spend all your time doing the work of the landlord, property manager, personnel director, cleaning crew and bookkeeper mean that you can achieve a healthy and happy work-life balance, too.
4. The Tools to Turn Vision Into Reality
Entrepreneurs who go it alone often start from scratch on everything from a business plan to financial management, goal setting, marketing, facilities and more. Our Salon Suite owners have access to a vast library of business, financial and marketing tools that lay out the path for salon business growth.
Salon Suite owners don’t have to figure out how to afford expensive equipment since Suites are fully equipped with what might otherwise be cost-prohibitive expenses. Instead of spending months designing and outfitting a salon space, the Salon Suite owner can move in and begin serving clients right away.
5. A Springboard for Action
How many times have you heard sayings like these:
- “The early bird gets the worm.”
- “He who hesitates is last.”
- “God provides the wind, but man must raise the sails.” (Augustine)
- “Well done is better than well-said.” (Benjamin Franklin)
- “There is only one proof of ability – action.” (Marie Ebner-Eschenbach)
Without question, there are people who succeeded in business because they were willing to take bold, decisive action. What often prevents people from taking action is lack – lack of knowledge, lack of resources, lack of money, etc.
Because Salon Suite owners don’t have to figure out the way forward when it comes to writing a financial, business or marketing plan, and their Salon Suites come with the equipment and furnishings needed to get underway quickly, Suite owners can go into action confidently and quickly to grow their business.
6. Location, Location, Location!
According to an Entrepreneurship at a Glance study by OECD.org, poor location is the 4th most commonly cited reason for startup business failure. There are entrepreneurs who never open their doors, find they cannot succeed because they simply aren’t in the right spot or couldn’t afford to locate their business in a prime location. Thanks to the planning inherent in the MY SALON Suite and Salon Plaza business model, Suite ownership comes with the confidence of a salon business with a good location relative to the potential client base.