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If you’re thinking about going from suite rental to owning a hair salon of your own, there are several things you should keep in mind. In this episode, Doug and I go over the dos and don'ts of opening a salon, and the common mistakes that you’ll want to avoid going from suite rental to commission.
It’s important to understand that starting a commission salon isn't simply having a beefed up version of a suite rental salon. If you try to approach it from that perspective, you’re going to run into problems.
The first thing you want to do is make sure you have a clear ownership agreement with whoever you’re going into business with. Many suite renters end up opening a salon with their friends, only to find things falling apart when clear expectations aren't set from the beginning.
When transitioning from suite rental to owning a hair salon, you’ll also have to add a couple of things. This means having to hire other people to help you. Get a receptionist, get a CPA, and start to market your brand. But make sure you’re truly marketing your brand and not just yourself. Change your focus from “me” to “we.”
Opening a salon is a great way to build something that you can sell later on. But to do so requires a shift in the mindset you have doing suite rental. Starting a commission salon means being a leader and a mentor. Once you embrace that, you’ll be able to grow something valuable.
Timestamps:
04:16 - Co-owning a hair salon with friends
09:25 - Figuring out what happens if you part ways
18:27 - Thinking about the team (and not just yourself!)
20:50 - Scheduling regular office time each week
22:46 - Building relationships with nearby schools
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