Top 10 Independent Stylist Checklist: Starting Your Salon Business.

Nina Tulio

Congratulations on taking the leap into chair renting or becoming a suite owner! You’ve made an exciting decision to take control of your career and run your own business. But now, you might be wondering: What’s next? Here’s your ultimate checklist to ensure you’re set up for success as you embark on this new journey.

1. Choose the Perfect Location

   • Is the location convenient for you and your clients?

   • Is there ample parking, easy access, and good visibility for potential new clients?

   • Consider foot traffic and proximity to other businesses that complement your services.

   2. Plan for Growth

   • Create a business plan. DO NOT skip this part. Check out SBA.org for support.

   • What’s your strategy for building your client base IF you are not already booked and busy?

   • Outline your marketing efforts and strategies to attract new clients. I suggest aligning yourself with other local businesses and get aquatinted with your community.

   • Have a plan for retention and referrals to grow sustainably. Follow up emails/texts within 24 hours of the first visit and always ask for feedback.

   3. Set Your Prices with Confidence

   • Create a simplified price list tailored to your services and market.

   • Calculate your business expenses, including rent and back bar supplies to ensure your prices are profitable. CHECK OUT my Make that money course to dial in your price per minute/hour to maximize revenue and increase profit.

   • Understand the cost of product per service so you ensure profitability with each service. You will have access to my service price per minute calculator in my MTM course. Game changer!

   4. Set Clear Goals

   • Outline what you want to achieve in your first year.

   • Create a budget to help you understand what is your break even number. Meaning, how much money do you need to bring in each week just to cover business expenses.

   • Establish revenue targets to ensure profitability and track your progress monthly.

   • Create actionable steps to hit your goals and celebrate milestones along the way. Remember to sit in your why when creating these goals.

   5. Secure Liability Insurance

   • Protect yourself and your business with proper liability insurance.

   • Research policies that cover your specific needs and ensure compliance with state regulations.

   6. Find an Accountant and Bookkeeping System

   • Invest in a solid accounting setup to manage your finances.
     P.S. Be sure you have a cash cushion of at least 3-6 months of business expenses.

   • Use software like QuickBooks to stay on top of income, expenses, and taxes if you choose to DIY.

   • Build a relationship with a CPA for guidance as your business grows. I suggest CPA, Michelle Cook. She has been a part of my courses since 2020 and has helped so many stylists/owners save money and gain clarity in their business.

   7. Review Your Rental Agreement Carefully

   • Thoroughly read your lease agreement to understand what’s included.

   • Check the length of the lease and any restrictions or responsibilities.

   • Consider consulting an attorney to review the terms before signing.

     
     8. Apply for a Business License

   • Ensure your business is compliant with state and local labor laws.

   • Register for the necessary licenses to operate your salon business legally.

   9. Know Your Numbers

   • Create an opening budget and understand how much money you will need to fit out your new space if you’re in a suite. This could include decor, opening product orders, equipment, licenses, insurance,

   • Stay informed about your financials, from expenses to revenue. I suggest pulling a profit and loss report MONTHLY. TARGET profit is at LEAST 50%.

   • Regularly review your budget to make sure your business remains profitable.

   • Track your progress and make adjustments when necessary.
     
     Track these areas:
     1. Service dollars
     2. Retail to Service Percentage (RTS %) 8-10%
     3. Retention - New = 50% and Existing= 75% +
     5. Frequency of Visit
     6. Average Ticket
     7. Percentage Booked or Productivity %

   10. Choose the Right Salon Software

• Simplify appointment booking, client management, and payments with salon software.

• Explore options like Gloss Genius to support your business needs.

BONUS- Create a Strong Brand That STANDS Out

Define your unique value proposition—what makes your services special?

1. Develop a cohesive look and feel for your brand, including a logo, color palette, and social media presence.

2. Craft a compelling mission statement that resonates with your target audience.

3. Be consistent in your messaging, ensuring your values and personality shine through in every interaction.

4. Define who you serve, why you serve them, and how you will serve them better than anyone else.
   

By following this checklist, you’ll be well-prepared to manage your business confidently and thrive as a chair renter or suite owner. Remember, success comes from preparation and consistency—so start strong and build a business you’re proud of!

Looking to learn more from Nina? Check out Make That Money course for suite owners/renters. And in my Synergy course for commission owners.

Psst! MORE Free resources are a click away!

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