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The key steps for the creation or the take over of a hairdressing salon
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Each year, more than 9000 hairdressing companies are registered. This figure includes 7500 creations (among which 50% home hairdressers) and 1500 take overs (only salons).
Are you inspired by these examples ? Do you also want to know the installation steps ?
In order to guide you, we present you the great steps of that amazing adventure. -
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Step n° 1 :
Conduct a market studyIn order to carry out your project with success, it is important that the service offer you’re going to create is gonna find a place on the market.
The market study will give you many pieces of information :
- What is the catchment area ?
- What are the characteristics of the consumer ?
- What kind of competition is there and what are its performance ?
Whether this study is conducted by you or by an external organism, it must help you to define your objective and to secure your means implementes for its success.
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Step n°2 :
Establishing your estimated budgetApart from the potential turnover defined by the market study, the business plan makes clear the list of the means necessary to the exit of that project.
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First, what are the necessary investments ?
If you buy up the business, the latter must be exploited according to its clients, its location, … Generally, this value comes close to 50% of the turnover VAT. You must also thing about the cost of the necessary works : renovation, updating to standards, …and computing.
Finally, the whole of the other means (rent, wages, general costs …) will enable you to determine the profitability and what is available in the treasury for your own wages but also the repayment of eventual loans.
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At that point, it is recommended to be helped by an independent accountant who will enlighten you about its different criteria and will give you a personal advice regarding your tax, sociable and legacy situation.
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Step n°3 : Obtaining your financing
Above all, you have to determine the means which you have at your disposal to amass your personal contribution which must correspond to about one third of your financial needs.
You must also know that there are many financing aids for the entrepreneurs : Pôle Emploi, France Initiative, Conseil Régional, … which can complete your own funds
Contact your bank but don’t stop there ! The banking conditions vary a lot between institutions.
Prepare very well your presentation and think about negotiating your initial financing but also the pricing conditions of the everyday operations (account commission, credit card rate, …)
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Step n°4 :
Finding a placeDepending of the sectors, the commercial property is sometimes very difficult to find.
Be patient and be aware of all the opportunities
Once you found the rare gem, don’t lower your guard yet and have some help from a professional (lawyer, accountant) to analyze your commercial lease
Be particularly vigilant regarding the activity, handover conditions and the load distribution between tenant and lessor !
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Step n°5 :
Have a successful openingThe launching of your business must be very well prepared
First, start your activity at a right time to seduce new clients (New year’ Eve, return to school, …)
The communication around that event must inform your potential clients and seduce them with for example a special offer or a special treatment for their first visit
Have a budget available for an opening reception or an open doors day to make discover your universe
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In order to achieve your project, don’t hesitate to have some help for each step.
If the creation or the take over of a business seems difficult, you can also think about alternative solutions like the lease management which makes you try being a entrepreneur before the take over of the clients or a franchise which makes you benefit from the knowhow and the brand of the network. -
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