Startup Costs: Under $2,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No
THE BRIEF:
If you love hairstyling and are passionate about helping people look their best, this could be a prime business venture. You could consider opening your hair salon in a physical storefront, but you could also operate out of your home — or on-the-go, visiting clients wherever they are. Arm yourself with a suite of hair care tools and products, familiarize yourself with different types of hair and make sure you’re up to date on current trends in both personal and professional settings. To generate additional revenue and profits for your business, sell hair care products — shampoo, conditioner, hairspray and more — alongside your styling services. Especially innovative entrepreneurs could develop their own line of hair care products as well, since many manufacturers also do private-label manufacturing (meaning that the manufacturer will place its product in your packaging under your product name).
ASK THE PROS:
How much money can you make?
In 2017, the median salary for hairdressers was $24,850, while the best-paid quarter made $35,100, according to U.S. News & World Report. ZipRecruiter pegs the monthly average pay for a hairstylist nationwide at $2,427.
What kind of experience do you need to have?
“My parents had their own business when we were growing up. It was a clothing store. My brother Michael is my business partner, as well as my husband Cameron. We saw my parents bend over backwards for clients. We learned that the customer is always right and that is how you approach business. If you want to be successful, that is the most important thing… [Also], in my early twenties I worked in PR. It was a short-lived career, but my boss at the time taught me how to pitch, write and be a professional. They are things I take for granted now, but I really got my professional sea legs in that job.” –Alli Webb, Drybar
What’s the most important thing to know about this business?
“Whether it’s about someone’s process or whether it’s about a product or a hairstyle… being open and honest is the way to go at this point. As cliche as that might sound, that’s just where we’re at. You don’t have to put on a show about it, you can just be raw and real about your process.” –Kristin Ess, Kristin Ess Hair
