The Ultimate Guide to Starting a Salon or Haircut Franchise
Owning Your Own Business Doesn’t Have to Be Overwhelming
If you’ve always dreamed of owning your own business, opening a salon or haircut franchise might be the perfect opportunity for you. However, if you’re new to entrepreneurship, figuring out how to start a haircut business might seem overwhelming. But it might be simpler than you think! Whether you want to be in-store all the time or take a less active role in the business, there’s a franchise option out there for you. Owning your own hair salon franchise can be an incredibly rewarding and lucrative endeavor. Here’s how to get started on the path to becoming a business owner.
Where to Start
The first step in figuring out how to start a haircut franchise is to decide what kind of operation you want. There are three types of franchise ownership: owner/operator, executive/absentee, and semi-absentee. Each comes with their own unique benefits and challenges but understanding what kind of lifestyle you truly want is key in making your decision. Once you’ve decided what kind of franchise you want to own, the next step is to find the perfect haircut franchise fit.
Once you’ve evaluated your options through extensive research and settled on the ideal haircut business for your specific needs, you’ll want to make first contact. Many franchises have specific requirements that you’ll need to meet before being granted a franchise. Preparing all the necessary information before reaching out puts you in the best possible position to opening your own franchise location.
While each franchise is different, most operations want to see specific information about you and your assets. Supercuts requires potential franchisees to have a network of $500K, liquid assets of $150K, good credit, and the ability to support your specific lifestyle while starting the business.
What to Do
The next step in the journey of how to start a haircut franchise is going through the chosen franchise’s process. While each franchise has a different process, most of them require several rounds of discovery and preparation before granting a franchise. As an example, Supercuts has a proven seven-step process for franchisee success.
- Step 1: Initial Inquiry
- Step 2: Pre-qualification Call
- Step 3: Confidential Questionnaire
- Step 4: Development Director Introduction
- Step 5: Supercuts Franchise Discovery Process
- Step 6: Agreement Signing
- Step 7: Franchisee Training
This efficient and effective process allows you to get down to owning your business as quickly as possible without cutting corners. While the length of the process can be different for everyone, Supercuts typically sees franchisees signing in as little as 60 days from the start of the process.
Most people look into how to start a haircut franchise because they realize the amount of support they’ll receive by doing so. From help finding funding to training support to established operational and marketing systems, opening a haircut franchise can be more streamlined than starting a business from scratch.
How to Succeed
Because you’re already set up with a proven business model through franchising, you’re more likely to succeed as a business owner. Franchising comes with the benefits of belonging to an established network of successful entrepreneurs and business owners that have been through the process and can help you succeed. When you invest in a franchise, you’re able to avoid some of the risks that come with owning your own business. You have access to successful systems instead of trying to figure out what works on your own. Once you’ve figured out how to start a haircut franchise, the hardest part is done. Joining a supportive network of knowledgeable entrepreneurs makes the rest even easier.