Business Basics 1 – Planning Your Opening
So, you’ve decided it’s a great idea to become an owner. You’re tired of working for someone else and see greener pastures on the other side. Now what? Going into business for yourself is not a simple matter. There are many factors to take into consideration before signing a lease for a space or purchasing an existing business. Let me guide you through just a few things to take into consideration.
Step 1: Have a Support System
Before committing your life to your business you must make sure your family is on board. Owning/operating any business takes a far more significant time commitment than that of being an employee. You can no longer simply clock in and out and go home. The forty-hour work week is now gone. Plan to work upwards of sixty. That being said, this means time away from spouses, children, even your own pets (taking them to work helps). So first, and foremost make sure you have the discussion with your spouse or significant other to make sure they are committed just as much as you.
Step 2: Formulate a Business Plan
A Business Plan is just that, a plan! I have never witnessed a successful business opening without having a plan. Do your research. How much space do you need? How many employees? What are your demographics? These are just a few of the questions you need to answer. A great reference to turn to is Grooming Business in a Box.
Step 3: CASH!!!
Now that you have formulated your business plan, you now know what your operating expenses will be for the first 6-12 months. Time to stock pile some savings to help you breathe a bit easier come opening day. During this time, you also will have build-out and equipment expenses and should now be obtaining capitol to fund these purchases. If at all possible, do not take out loans. Be patient and save. You will have less of a burden upon opening and will be able to operate without worry.
Step 4: Sign the Lease
Get the lease signed, buildout your salon, and open for business!!
The grooming industry is ever changing with techniques, however, the “business” side never changes. You can grow and learn, but the core principles remain the same. We want to see success in everyone’s salons, and by simply doing the research ahead of time you are more likely to succeed. Did you know, most salons close after just 3 years due to lack of capital (money)? Stay tuned for more in-depth discussions on these topics, and even salon layout!
How We Can Help
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Contact us to find out more about the right grooming products to help you to take your pet salon to the next level in 2018. Looking for a new pet grooming software to kick off your 2018 goals? Try 123Pet absolutely free for 30 days!