Setting up an Essex hairdressing business can be an exciting and rewarding venture. However, it can also be challenging, especially if you are new to the industry. If you plan to start up an Essex hairdresser small business, or elsewhere in the United Kingdom, below are some steps to help you get started.
If hairdressing isn’t your style but you are thinking about setting up an Essex limited company, check out our blog post on the subject.
1. Ensure Small Business Success: Research The Market
Before starting any business, it is essential to research the market to understand the demand for your services. You can begin by looking at the competition in the area and identifying gaps in the market that you can fill. You can also conduct surveys to understand the needs and preferences of potential customers.
2. Any Small Business Needs A Business Plan
A business plan is a roadmap that outlines your business goals, strategies, and financial projections. It is essential to create a business plan to guide you through when you start up an Essex hairdresser. It will also prove invaluable throughout running your business. Your business plan should include details such as your target market, pricing strategy, marketing plan, and financial projections.
It’s important to bare in mind that your business plan should be a working document. Rather than a task you complete once and tick off, or set and forget, it should be kept updated.
3. Register Your Start Up Essex Hairdressers As A Small Business
You will need to register your business with the relevant authorities, such as Companies House and HM Revenue & Customs (HMRC). You will also need to obtain any necessary licenses and permits, such as a hairdressing license and health and safety certificates.
4. Find A Suitable Location For Your New Hair Salon
The location of your business can have a significant impact on its success. You will need to find a location that is easily accessible, visible, and has a high footfall. You should also consider the size of the premises, the rent, and any additional costs such as utilities and insurance.
5. Research And Purchase Hairdresser Equipment And Supplies
You will need to purchase equipment and supplies such as chairs, mirrors, scissors, hairdryers, and styling products. It is advised that you do some searching around to get the best products for a good price. You should also consider investing in a point-of-sale system to manage your bookings, payments, and inventory.
6. Do You Need To Hire Staff To Help Run The Business?
If you plan to hire staff, you will need to advertise job vacancies, conduct interviews, and provide training. You should also ensure that you comply with employment laws and regulations, such as minimum wage and working hours.
If you do employ any workers you’ll need to register for PAYE and ensure you pay the correct National Insurance Contributions (NICs), and employer and employee taxes to HMRC.
You may decide that rather than take on a team of regularly employed stylists, you want to rent out chairs in your hairdressing salon instead. This can be cost effective for your small business, but can also mean a slight loss of control. The hairdressers renting chair space will be self-employed, not directly employed by you, and will have more freedom than regular employees.
7. Small Business Marketing For Your Hairdressers
Marketing is essential to attract customers and build your brand. Having your own website can lend authority to your company and give you more control over your marketing. Awareness for your hairdressing services can be raised for free on social media by regular posting and engaging. Additionally, there are options for paid ads which can increase the scope of your exposure. You can also set up Pay-Per-Click (PPC) advertising on search engines such as Google and Bing. There are various other marketing channels such as local advertising, online directories, review platforms and word-of-mouth referrals. You should also consider offering promotions and discounts to attract new customers.
Starting a hairdressing small business in Essex, United Kingdom, requires careful planning, hard work, and dedication. However, with the right strategy and mindset, you can build a successful and profitable business that meets the needs of your customers.
For help setting up, be it a start up Essex hairdresser, or another place or industry, get in touch with the team at Neil Smith Accountancy. They offer business advice, bookkeeping and expert company accounting services, from Corporation Tax regulations to VAT registration requirements and pros and cons.
