I'm 16 and want to make my mark...

[Andii]

I've just turned 16... I work in a hair salon and I'm in full time education doing my GCSE's.
When I've left school, I plan to go to college but I also want to make my own business and I haven't got a clue how...


How do I make my own hair salon business?
How do I get a business loan and who do I go to?
What is required to start a business?

Could somebody help me?

[windroadtosuccess]

I would start by constructing a business plan - Business Plan Samples, Writing a Business Plan - Entrepreneur.com
Once that is created talk to your parents and/or relatives about helping you and possibly cosigning for a loan, to get a loan you would most likely go to a bank.
Make sure you save up personal money to invest before you go to a bank, unless you are investing any of your money then chances are the bank wont invest any of there's.
You will need business licenses, as well as a location (LOCATION, LOCATION, LOCATION). Then obviously you will need staff, equipment, ect. You should take some business classes nearby where you live to get into the right motion, and possibly find someone nearby to help guide you through the process! (Possibly another salon owner)

[jonathanfigaro]

I've just turned 16... I work in a hair salon and I'm in full time education doing my GCSE's.
When I've left school, I plan to go to college but I also want to make my own business and I haven't got a clue how...


How do I make my own hair salon business?
How do I get a business loan and who do I go to?
What is required to start a business?

Could somebody help me?

If you looking for some real guidance for your business , i suggest checking out score. Its an organization of retired business man and women who have years of experience in the fashion of this business world. Some may be millionaires retired or just well off. Either way they can help you get on the right path especially since your so young. Glad to see your get tin on a great start at an early age. P.S the information is free plus you can actually chat with them. In addition if your plan is solid, they can get you a loan to get started. So i suggest diving right in this organization! Peace!

SCORE | Counselors to America's Small Business | SCORE

[zmonique2007]

Here are tips that can help you;
1.)Plan and prepare.
2.)Ask help from the experienced people
3.)Have a back-up plan.
4.)Gather information as much as you can.
5.)Think first before you act.

[pkeetch]

What is required to start a business?

You can have the greatest idea, business plan, funding, etc, in the world, but if you don't know how to successfully market your business, you will likely fail.

Tony Robbins recently called marketing the "master skill" that every entrepreneur mast have to be successful.

Renowned business advisor Peter Drucker said that there are only two functions in business - innovation and marketing. Innovation is providing a unique solution and marketing is acquiring and retaining customers who will purchase that solution.

Without customers, there is no business, so take the time now and learn everything you can about marketing.

- Paul

[Franakapan]

How do I make my own hair salon business?
What is required to start a business?

You're doing the right thing by gaining experience at a salon while continuing education (which I assume will be complementing your future ambitions). In addition to this, it might be worth considering taking extra curricular courses/evening classes in business management and related fields in order to gain some knowledge of running business and how to successfully establish them.

By continuing to work for the salon you're at you may have the opportunity to take on more responsible positions as your experience and relationship with the salon owner improve (or apply for a position at a different salon). This will give you a better understanding of the day to day management of business and, in particular, salons.

Reading business articles, blogs, magazines, books and forums gives you the opportunity to learn about all aspects of business which can compliment the experience you gain from working. Additionally, watching business programs may also prove to be beneficial.

While gaining experience you can start the process of planning the business. I find that a good way of doing this is to jot down every question about setting up a hair salon that you can think of, and then find the answer by browsing the net, asking someone, etc.

Once you think you have all the basic info you need you can start formulating a business plan.

How do I get a business loan and who do I go to?

There are many sources of finance. Apart from the obvious ones there are also various competitions (some universities run them for example), the Prince's Trust, business angels (basicaly people who invest money in businesses in order to make a profit for themselves), and you could potentially qualify for various grants from the government (I know a bloke who runs a clothing company and employs/trains teenagers who struggle at work or get involved with crime - I can't remember which - and he receives a substantial amount of money for his efforts).

If you looking for some real guidance for your business , i suggest checking out score. ... So i suggest diving right in this organization! Peace!

The UK equivalent to SCORE is an organisation called Business Link. I've never used them before but I've heard good things. The advisers/mentors I have met by chance have seemed like experienced and knowledgeable individuals.

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As you are a student it may be worth checking out local business events where there may be workshops or guest speakers. As a student you may be able to attend free of charge (always ask even if they don't specifically say this - its worth a try!) and I've found these events to be highly instructional in the past. You could ask your local university about attending these type of event if they run them I guess.

[ACB123]

Wow 16 and you've already gotten it together and know what you want. Congratulations on that. I've read through the thread and you have some great advice.

First and foremost have a plan. Get a business plan. Also get more experience. Make sure you put yourself in situations where you can learn EVERY aspect of the hair salon business. Also start saving NOW!!!! $5, $10,$20/week will soon add up and when you get started, you have a nice little nest egg for your investment.

Good luck and let me know if you have any questions at all.