Of course, with any startup business, numerous advantages and benefits exist. When it comes to being an independent stylist, those benefits include the potential for a higher quality of living. Other important benefits include such things as self-direction and purpose. However, what many people do not realize is that being able to grow your own stylist business - an activity that comes with its own set of responsibilities - offers lasting and meaningful emotional and financial benefits while also inspiring younger entrepreneurs or family members.
1. Higher potential for income
Of course, higher income potential is important, and it is an obvious benefit. However, achieving higher income typically only results from a focused marketing campaign and proper business management. Although many independent stylists are excellent hairstylists, they might not be as adept at social marketing, SEO, or generating word of mouth.
As a stylist, if you can partner with an experienced marketing expert or learn marketing techniques, you actually have the ability to reach an initial six-figure income.
Of course, you will need to manage your business well. Business management is a multi-faceted skill that involves the following.
- adjusting products and services according to profit and loss
- time management
- money management
- customer relations
- ongoing training
- knowledge of industry trends
2. Ability to take control of your destiny
Everyone at one time has likely had a job for someone else that did not end with the worker feeling in control of his or her destiny. As an independent stylist, you can enjoy developing services to fit your customers and clients, and you can focus on a market that interests you. Additionally, you can often follow hours that fit your schedule.
Of course, stylists who achieve this level of control do so by successfully attracting new clients and delivering exceptional results. Results depend on a stylist's training, experience, and skill. Attracting additional clients is a result of successful market positioning and a dedication to training and providing excellent customer service.
If you are adept at such skills, you will do well. Fortunately, if you are more adept with a pair of scissors, you can learn the skills necessary to market your chair. For instance, the most successful stylists begin with a chair rental and view this as a complete business.
They work withing the parameters set by the landlord or business owner. Additionally, they maintain awareness of new styles, and they practice their customer service. By taking control of these individual skills, they eventually gain control of their entire future.
3. Potential for passive commissions
There is not one single person alive who has not watched new hair franchises arise and position themselves in communities. Successful hair stylists also do this.
As an independent stylist, a long-term marketing plan that includes hiring junior stylists or launching multiple locations can be an most important factor in enjoying passive commissions. It will require a dedication to branding, quality control, and successful hiring of talented stylists. Consequently, the most successful stylists take business classes at a community college or hire an experienced marketing team to develop such a plan.
Additionally, they spend a significant amount of time reading recommended business books and ongoing education. Finally, they make sure they are always current on their licensing and certification, and they network with other stylists.
4. High return on investment
Starting any business carries initial costs. However, the costs involved in becoming an independent stylist are much lower than similar costs for other businesses. Startup costs are affordable and consist of such things as equipment, school, and licensing.
Other costs might involve a chair rental, but this is much easier to afford for someone starting out than attempting to rent an entire store. Moreover, with proper business management, a stylist can grow his or her business and enjoy an enormous return on investment.
In terms of opening a business, the old saying that emphasizes location is good advice because it is true. It all relies on location. However, establishing that first location is best done via an examination of market demographics. For an independent stylist, this might mean simply renting a chair at a successful salon. Another technique might involve renting a chair in an upcoming part of town.
In terms of job autonomy, the benefit of later shifting your location--again and again--if you move between residences is something that only independent stylists can do. Others workers, unfortunately, are often tied to a location because it is the desire of the boss.