Are you ready to take the leap of making your growing Hair and Beauty hustle your main hustle? Here is a list of a few of the basics that you need to consider in order to make this next step in you Afro Hair and Beauty journey.
Set up a business bank account
Avoid getting your personal finances mixed up with your business finances with separate accounts for both. There have been some great comparisons of free business accounts that can get you up to speed in no time.
Lease don’t buy
If you need equipment, instead of buying it, try and lease it instead. You may think that buying equipment and furniture is an investment, it is. However, if you’re not financially stable enough to invest the majority of your finances in equipment, don’t. There are plenty of salon leasing companies out there that will provide you with your chairs etc until you’re ready to buy a set yourself
Get your vex money ready
If you’re getting vexed by the whole process or something unforeseen happens that prevents you turning it into your main hustle, it is always good to have a little pot of money set aside should you need it. This isn’t a business fund (don’t forget, earlier we said you need to keep your personal and business finances separate). This is your emergency fund should you decide that you want to pursue a different route. We’d recommend it be roughly 2 months worth of your living expenses at a minimum.
Invest (a little) in technology
It can be easy to start to feel a little overwhelmed with everything that you have to manage, which is why we would recommend that one thing you invest in is tech to manager your business - from things like taking payments, listing your services online and making bookings, you’ll want to organise that in an easy fashion. Luckily Club Melanin enables you to do this for free. We’re also regularly improving our platform so if there’s something you need to help you manage your business, just let us know. Sign up to the mailing list below if you'd like to be the first to know when we're launched and ready for you to use.
Don’t forget those that got you to where you are
Some people may think this includes your friends and families - Whilst important these are not the only people we want you not to forget.
Do not forget or neglect those the got you to where you are, your customers. Ultimately they’ve given you the revenue to be able to get to where you are now. Never forget that without them you wouldn’t have a business. Stay humble and ensure customer centricity stays as one of the most important of your values. We see it a lot see at Club Melanin. Those stylists with the highest review scores continue to get the most bookings.
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