As a hair stylist, you have a lot of options. You could open a salon in your home. You could open a physical location. Or, you could participate in a salon share.
Each of these options carries different benefits and pitfalls, but as a brand new business owner, a salon share carries some great benefits that may turn it into the best option for your business.
Here are four reasons why a salon share trumps your own location.
1. Less Work
Owning your own salon can be tedious. The entire salon is your responsibility: all of the cleaning, repairs, and the maintenance.
This upkeep can add hours to your workweek as a business owner, and when you are already working long hours in you business and juggling clients, paperwork, and other business activities, the last thing you want do is add the care of a salon to your to-do list.
You already have a job to do and that’s working with clients. Salon shares allow you to share the responsibilities of a salon among several partners, freeing your time to focus on the work that brings in your income.
And you never know –they may just give you that freedom to take an extra day off here and there.
2. Fewer Expenses
Business owners incur a lot of expenses.
And chances are, if you’ve started to build your business, you know it can begin to seem like a money pit, at least at first.
Sometimes, it feels as if your business bank account has sprung a leak.
Opening your own salon location will make that leak feel even bigger. When you run your own location, you have to pay for a myriad of expensive things:
• Staff to act as a reception
• Supplies to maintain the salon (cleaning products, toilet paper, etc)
These costs all add up and quickly drain your budget.
With a salon share, however, you have to pay a fraction of the costs of upkeep and staffing a full salon.
You don’t have to worry about reception, as each stylist is responsible for his or her own appointment booking and maintenance. You don’t have to shell out the entire amount of supplies or utilities.
The costs are a lot more moderate in a salon share, which can be a life-saver as a new business owner when your budget is stretched thin.
3. Lighter Commitment
If you’ve ever adopted a pet or purchased a house, you’ll know what I mean:
You’ve made a huge commitment. You’re committing to stay in one place or care for another being for years to come.
When you open your own location, you’re making a huge commitment, too.
A business in and of itself is a commitment, but it’s flexible. You can move a business, pivot with your business, and be flexible – you can’t do that if you have your own location.
With a salon share, you can find another business owner to take over your share and move on at any time. You have the flexibility and freedom to choose where you want to go and what environment you want to work in, even if your tastes change.
Most new service-based business owners start their business so they can enjoy more freedom in their lives from working for another company. So a salon share can be the perfect thing to maintain that freedom.
4. Friendly Faces
Before you hire staff, being a business owner can be lonely.
Sure, you interact with your clients and suppliers. But there’s something to be said about having colleagues who understand what you do and play on the same level.
You don’t get that with your own location, because you’re a lone ranger – but you get some built in colleagues with a salon share, because you share a salon with other stylists.
As you build your business, you may find that you miss interaction with colleagues, and salon shares can be the perfect solution.
You’re in a unique industry. You have many options for how you structure your business. When you’re evaluating your different options, consider these four reasons salon shares trump opening your own location. It may end up saving you time and money and give you more freedom and interaction.