As you develop your idea, you may speak to people outside your business interest, therefore openly exposing your idea to others. Once you do this, there is no reason why somebody may not pinch your idea. It is essential therefore that you protect your intellectual property. This can be done in several ways;
By using a trademark
Having a copyright
Patenting your idea
Using design rights that will protect the appearance of your product
If you have developed a partnership then the idea is likely to have been that of just one person. In this circumstance you should write a contract that determines what, if any, will be the difference of profit to each party.
Essentially, know that you can afford it. Before you start your own business, it is important to assess the start-up costs required and decide if you can physically afford it. The amount of money that you will need to start up a salon varies immensely depending on the type of service you are going to offer, the clientele you wish to target, the quality of your salon, the fixtures and fittings you would like to have, the equipment you will need, the amount of bookings you aim to take, the leasehold agreement you have, the rent you will pay and the opening inventory you will have, to name just a few factors to be considered.
|Some of the things that should be considered first||£|
|Purchase price (or Tenancy, trade fixtures to fittings)|
|Rent one month - three months in advance|
|Stock and Decoration and Refit|
|Professional fees and training costs|
|Removal costs and sundries|
If you decide that you can meet the necessary start-up costs then it is essential to start to plan effectively. It must be understood that there is more to running a salon than cutting hair, and so it is imperative that you as the owner are educated enough to be able to do things like balance the books, manage supplies, deal with reps, have excellent interpersonal skills, and that is just the start. Simple steps can be taken to ensure that you are a top business owner, as well as a top stylist. For example, go on courses, read books and the most valuable information you will get of all is from talking to people and listening to their experiences. All your employees, and of course yourself, will need to be qualified in hairdressing to NVQ Level 2 at least, which qualifies as a junior stylist.