February 4, 2019
5 Steps to opening your own Salon Studio
Starting any new business can be challenging and intimidating. There are so many things to think about and plan. The whole thing can be emotional and overwhelming IF you don’t know where to start!
Like most big projects its important to take one step at a time and to not let the whole things start to feel bigger than it really is. So we wanted to help break things down into some simple steps to help you with your journey.
Step 1: Developing a business plan
Now this step can take many forms. It can be as simple or as complex as you want it to be but it is important to put on paper the Why, How, and What of your business (in that order by the way). Because most people that are stepping out into the studio world are venturing on their own this might seem like overkill or even unnecessary, but every business owner big or small will benefit in other areas of their business when they identify these 3 things. Simon Sinek has an amazing perspective on this topic. Check out this awesome breakdown of this concept with this video!
Step 2: Paper work
Now this step might not sound so exciting and lets face it… its not. But its an important piece to getting your new business off the ground. It includes things like choosing your name and deciding whether you want to form an LLC or remain a sole proprietor, filing for a trade name, and getting your business license(s). Here is a list of the most commonly needed forms for starting your business!
- State Transaction Privilege (Sales) Tax (TPT) License (commonly referred to as a sales tax, resale, wholesale, vendor or tax license); Use Tax
- State Withholding/Unemployment Tax (if hiring employees)
- Trade Name
- Limited Partnership (“LP”), Limited Liability Partnership (“LLP”), Limited Liability Partnership (“LLP”)
- Foreign Limited Partnership (“FLP”), Foreign Limited Liability Partnership (“FLLP”) & Foreign Limited Liability Limited Partnership (“FLLLP”)
- Limited Liability Company, Corporation
- Foreign Corporation, Foreign Limited Liability Company
- Employer Identification Number (EIN)
Now, its super easy to feel overwhelmed by this part. But you don’t have to! Just ask us for help! We would love to walk you through this process!!!
Step 3: Choosing a location
Identifying a location to open your business is one of the most important steps. Considering your clients can be beneficial in this moment. Make sure the location is convenient and provides other amenities and complementing businesses. Most clients will follow you farther than you might think but they can also tell and appreciate when you have considered their needs in the location that you decide.
Step 4: Design your space
If you don’t have the funds to hire a designer or you just want to design your space yourself, I would start with a style board. Pinterest is a great place to do that! Paint color, textures, furniture, storage, function vs design. Put all your ideas together and choose all the different elements to create your perfect space. Mila Note is one of my favorite programs to use as a style board! Its super easy to put all of your ideas in one place and even invite friends to help!
Step 5: Open
This may seem a bit obvious, but everyones opening is a little different. Have fun with it! Let this be a moment of celebration for you and clients! Have a party or a grand opening either the day you finish or maybe a few days or weeks after your “soft launch”. It can be a small group of friends and family or go all out and bring in venders and other businesses to help kick thing off! Most importantly take some time to enjoy what you have worked so hard to create.