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Consider the factors most likely to lead to success when starting a new hairdressers.

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Introduction

Consider the factors most likely to lead to success when starting a new hairdressers. When starting a small business of your own such as a hairdressers or a corner shop, many things must be taken into consideration in order to make your business venture a success. Firstly the business idea must be planned through on paper in order to get the idea clear in the mind of the owner/s. Without proper planning the business is already more likely to fail as a business plan shows things such as the basic idea, marketing plans, any problems and the finance needed to start-up. A business plan is essential to present to a bank in order to get a loan for set-up costs. A good location for a new business is almost as important as having a good idea in the first place. If your new hairdresser's shop is located too near to an already established hairdressers then the competition may be too much for your business to handle and therefore it will fail. ...read more.

Middle

Trained staff can help to sort out the above problem. Even if you yourself have no prior knowledge of cutting hair then employing people who do can help to make this no problem. However, with a new business, especially a small hairdresser's shop, the chances are that employing more than 2 people at first wouldn't be a plausible idea, as it would cost too much with no profits coming in at first, therefore the business is likely to fail. As a result the staff you would employ must be trained already in order to cut down on the cost of training new people. Market Segmentation can be useful to a new business by identifying their target consumer and helping to recognise a niche in the market. A customer profile is useful to have when deciding things such as prices and other services. For example a niche in the market may be older women, a hairdresser's that caters for older ladies at a reduced rate may be supplying a niche market and could generate business that may not have been addressed before. ...read more.

Conclusion

Creating lower overheads in the first few months of opening a hairdresser's shop could also be a factor leading to the success of the business. This is because less of the profits are taken up with running costs, and therefore the business is more likely to be able to pay back any loans from banks. With the business able to keep up any repayments on money owed, it is less likely to go into debt and therefore is more likely to survive. A very easy way of lowering overheads is to do most of the work yourself in the first instance and employ no others. This way overheads are greatly reduced by not having to pay other's wages, also you would be prepared to take lower wages yourself during the set-up period. In conclusion the factors most likely to lead to the success of a new hairdresser's shop are things such as the location, prior knowledge of the industry and hairdressing skills, promotion, product differentiation and gaining an advantage over competitors. If all these are achieved then the business should be a success. ?? ?? ?? ?? Page 1 ...read more.

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