Have you thought about opening up your own business? Have you been thinking about having your  own salon ever since your 1st day of cosmetology school started?

Stop what you are Doing and Don't Open a Salon Suite Until you Read This!

Roughly 30-35% of all cosmetology professionals are currently operating independent of a traditional salon facility, but if current industry trends continue, that number is expected to increase to 75% within the next five years, according to a recent study by Suites Consulting. 

And while salon suites work well for many stylists, there are many important factors you should consider before you open a salon suite, including:

(1)  Are you clear about why you want to open your own business?  Do this step first: getting really clear on why you want it will serve you so well as you move forward.

(2)  Have you completed a detailed financial analysis of your earnings at a commission salon versus the suite?  Do you understand all the costs as well as the opportunities associated with operating your own business?

 

(3)  Do you have the leadership skills required to be in business for yourself? If not, are you willing to do whatever it takes to get those skills?

(4)  Are you upset about something that happened at work and now you are making an emotional decision? If that is the case, spend more time getting clear so you're certain this is the best move for you. Schedule time with yourself to think and reflect on this when you are in a neutral mindset and headspace. Take the emotions out of your decision-making process so you can get clear on what you really want and why you want it.

One of the best ways to get clarity and focus on the direction of your career is to get our Beyond Common Goal Setting Training. This will help you get clear on why you want to be in business for yourself and what it will take to make it all happen so that you can be truly successful with your decision.

Many stylists thrive at salon suites, while others are not satisfied and they end up leaving the salon industry altogether because they didn’t have all the facts on what it really takes to be successful. Over time, I've discovered that salon professionals who do best at suites often have some of these core skills and personal characteristics:

-- They value personal and professional development 

--  They have a thriving existing client base

-- They have business and leadership skills 

-- They have good math and accounting skills 

-- They have people building skills

-- They have marketing and sales skills

-- They have a positive attitude and work ethic

And the following people may have more challenges at a suite:

-- Stylists with under three years in the business

-- Limited  Salon experience and or business experience 

-- Stylists who receive referrals from their existing salon

-- Stylists that haven’t stepped up and fully taking responsibility for building their own book of clients while working in a salon as an employee 

-- Stylists who have not done the math or the cost analysis of what it really takes to run a successful business and follow or the laws and rules of running a real business 

-- Stylists that do not sell retail 

-- Stylists that play the victim or blame everyone else for all of their mistakes and failures

-- Stylists that make every decision based on emotion instead of looking at the business facts and figures.

-- Stylists that do not invest in their own personal and professional development 

Numbers Don’t  Lie! People Do!

You need to check your finances. If you are not hitting the right numbers you can not positively think your way into this working. You need to have clarity on what your numbers really are. Not what you think they are.

You need to know exactly what you need to do in sales revenue to break even? What do you need to do to have a positive cash flow?

What you need to do to be profitable.

Without this information you are setting yourself up to fail and that is not going to help you or anyone. 

Do not over commit yourself.  If you can not make the financials work you are not ready to open your salon suite business. You can set a goal for yourself and start working towards accomplishing that goal of opening up your own salon though once you have gone through this whole process and now have some clarity around where you currently are and where you want to go.

Bottom line is not everyone can be a boss and run their own business, not everyone should be in charge of taxes and other financial responsibilities. Marketing, growth, legal ramifications, etc.

Knowing all of this about yourself is vital to your future success.

You need to access your personality honestly and truthfully.

Do you have what it takes to be a boss? Yes you will be the boss of yourself, the boss of your schedule and the boss of your own life. But the clients and customers are really the boss, they will only keep coming when you show up as a true professional that has your act together and continues to deliver on a consistent basis.

Do you have the dedication and discipline it takes to show up consistently to make this happen?

One of the best ways to discover this about yourself is by reading Beyond Common 12 Essentials to Success in Life and in The Workplace and listening to the audio book to help you get clear on what it really takes to be successful especially in the salon and beauty industry.

 

It is ok if you don't. Some people just really need a boss or leader type of person in their life to help hold them accountable. If you do that is ok and better you should know this about yourself now rather than waiting until you are in over your head.

At Beyond Common, we're focused on empowering women business owners by providing them with the strategic tools and resources they need.  If you'd like to take a step back and take a look at where your business is today and where you want it to be in six months, We offer a full range of virtual and in person courses and one-on-one or group business coaching and consulting.

To learn more about how we can help you achieve the results you need right away, check out our Beyond Common Goal Setting Guidebook Training and tune into my podcast Beyond Common Business Secrets! 

We devote all of our time to inspire and empower women through my Beyond Common Success method to look and feel their best while making more money and improving their overall quality of life so they can have a greater impact in the world.

Thank you so much for reading our blog!

With Gratitude,

Tracey Watts Cirino