How Much Money Do You Need to Open a Salon

Although the cost of opening a hairdresser salon is made up of many factors, there are some general items of expenditure that are common to all salons. At first sight, it may seem that this is a business with low required start-up capital. But is it really so?

The truth is that to set a standard level of service you need to invest first.

If you are going to open a hairdressing salon, you will have to think about:

• Renting a suitable quarter that meets all hygiene standards;
• Purchasing equipment. A hair washer with an armchair, a makeup cabinet, mirrors, hairdryers, and curling irons are not cheap. And, most likely, you will need several;
• Purchasing materials for all hair types;
• Advertising costs;

Plus add to the list the staff salary, bills, and other unforeseen expenses. On average, the final amount is about $12,000-$14,000.

In most cases, this is not the amount that you have on hand when you are thinking about starting your own business. But if you have a dream, don’t wait until “Someday”! You shouldn’t waste your time waiting for the right moment that may never come.  Fortunately, there are various types of startup business loans and plenty of lenders which are ready to come to the rescue.

Once you decide on the amount, start looking for a lender. Pay attention to the APR amount, fees, and costs to find the best offer. If you’re applying for a traditional loan, make sure that your credit score is high enough. Banks usually run for a hard credit check. Generally, your credit score should be from 640 to 700. If you meet the requirements, prepare all the required documents and apply. Let your dream come true right now!

If you already have some money stashed and need just a lower amount for some financial emergencies, you can also consider payday loans. It’s an easier and faster way to get money as soon as the next business day. And no credit check is required.