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The hair styling industry is a multi-million dollar market with a steady annual growth. Australians are very style conscious and more than willing to pay for a good haircut. As long as everyone continues to need haircuts on a regular basis, the market should remain healthy.
When it comes to market research, unisex hair salons are proving to be a popular choice amongst consumers.
National figures show that the majority of customers visiting unisex salons are women between the ages of 18 and 44 and about half of them are married. They are attracted to these salons because while they are having their hair shampooed, cut and blow-dried, their kids are having theirs cut too.
Convenience will be a major factor when it comes to attracting a loyal customer base. So too will your business premises and location.
Site location is probably the most important factor in determining success for the majority of businesses.
Studies have shown that poor location is among the chief causes of all retail business failures. In retailing, you must be willing to pay for good location. The cost of the location will often reflect the volume and/or quality of the business you do.
Your target market and consumer demographics, such as age, income, lifestyle, etc. will play an enormous part in where you decide to locate your business.
You will also need to consider your staffing needs, operating hours, equipment requirements, pricing arrangements, the various services you will offer and what to consider when fitting-out your business premises.
All this and much more is outlined in this guide. It investigates market potential, what to consider when choosing business premises and location, what equipment you will need, what to consider when it comes to costs and stock, how to effectively operate your business and the tax and legal issues you should be aware of.
Remember, not only is starting a business a major life-changing decision, it is also a major financial investment. As a result, you will need to make sure you are fully aware of the commitment you are about to make and what is involved.
This guide will help you to arm yourself with the appropriate information. Information that is accurate, up-to-date and applicable to your individual circumstances.
| Average net profit before tax | $31,000.00 | | Average startup investment | $33,000.00 | | Minimum startup investment | $24,000.00 |
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