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The Entrepreneurial Side of Cosmetology

Hollywood Institute of Beauty Careers graduates will receive job placement assistance upon completion of their program. However, many beauty school graduates have an enterprising spirit and aspire to eventually own their own business. The idea of starting your own business can be exciting, but daunting. Here’s a brief outline of some of the key steps and considerations involved in the process.

Create a Business Plan

This is a road map for your business. It outlines how you see the company functioning and growing over the next three to five years. It includes things like financial requirements, an analysis of the competition and a marketing strategy. The plan can change as you develop the business.

Determine Licensing and Other Regulations

These vary by state, county, and city. Depending on where you plan to open your business, you’ll likely need a business license as well as other permits. The website http://www.sba.com/florida/ is a good resource for learning our state’s licensing, registration and permit requirements.

Finding a Location

When you open a cosmetology business, it’s usually best if it’s in an area with retail establishments and other businesses that your clients and potential clients frequent. Many people learn about salons simply by walking by them and seeing window signage or notices of special events or promotions that attract them. You also want to look for a location that’s easy for clients to get to.

If you’re renting or leasing a property, make sure that you will be allowed to do the renovations and installations you need to operate a salon. Negotiating the terms of the lease, including things like the handling of repairs and ongoing maintenance, is a crucial part of the process.

Obtaining a Loan

You’ll need to secure a loan that will cover what you’re paying for the property as well as any needed renovations, equipment, supplies, insurance, taxes and payroll. If you have a good business plan, you’ll have considered these things already and be able to present that information clearly as you meet with potential lenders. Remember to budget accordingly as you’ll need enough to cover the start-up costs as well as subsequent operational costs of the business for a while.

Hiring Employees

Employees can make or break a business. This is particularly true in the beauty business where they are in close, intimate contact with clients. You want people who are talented and capable, but also have excellent people skills.

At the Hollywood Institute of Beauty Careers, our programs focus not just on teaching the skills needed to potentially be a top-notch esthetician, nail technician, massage therapist, electrologist or other beauty specialist. We help our students learn how to listen and relate to clients.

Getting the Word Out

You’re just about ready to open. Now you need to begin to market the business. Get the word out in local newspapers, magazines, advertising circulars and local coupon packets. You’ll likely want to have some discounts, special offers, promotions and other events as well as referral incentives for your clients.  You’ll definitely have to start thinking about digital marketing to go along with your new business endevour.

The Hollywood Institute of Beauty Careers has a Career Services Portal where employers can create a free account to view our graduates’ resumes and post job opportunities. We’ve been training men and women in the latest techniques in the beauty field for over 40 years, so our graduates bring a wealth of knowledge and skills to any cosmetology business.

Fill out the “I Want Answers!” form on the right if you have any questions!

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