The demand for hairdressers and estheticians will continue to increase over the next few years. This industry will always be in high demand as long as men, women and children grow their hair. People with a barber license from an accredited school will always have the potential to make big money in this industry. With the demand for hairdressers, estheticians and stylists continuing to grow, so will the demand for schools where a potential hairdresser can enroll and gain extensive knowledge and training to obtain a license.

The first step: create a business plan and raise capital

Take the time to write an in-depth business plan for your hairdressing school. With this step it is imperative that you include a description and mission statement for the school. Include your marketing strategy, researched data on other hairdressing schools in the immediate area, and any information on the schools’ insurance coverage. It is important to provide all documentation that highlights financial records and needs. These needs should include how much capital you will start when school starts and how you plan to raise the additional funds needed.

The second step: raise capital

By contacting your state Department of Education, you can apply for available government grants and loans. This is an important step to begin the process of obtaining the money you need to raise your startup capital. Working with a bank to complete and submit your loan applications is a must, unless you have all the money you need to get started.

The third step: get insurance coverage

Begin this step by talking to local insurance providers. Please note that you will need to purchase sufficient insurance to cover damages (fire, flood and theft), as well as sufficient liability coverage. Talk to your insurance provider about employee coverage, such as workers’ compensation, disability benefits, and unemployment. Doing this will ensure that your school has broad coverage for its students and instructors.

The fourth step: inventory

Contact different beauty wholesalers to get the equipment at the best price for you. Comparing the costs of salon chairs, workstations, hair products, mirrors, scissors, etc., will be beneficial to you when you ensure that you purchase enough inventory to provide enough training.

Once you have completed these first 4 steps, you will be able to breathe a little easier. Nobody said this was going to be easy; however, anything you work hard enough to achieve will have a huge advantage when all is said and done. Being the owner of your own hairdressing school will be extremely rewarding if you do your best. Giving people the knowledge they will need to be successful in a field they love will make all the hard work pay off in the end.