From Chair to Shop Owner: How to Know You Are Ready to Open Your Own Shop

Opening your own shop is one of the biggest steps in this industry. Done at the right time, it builds real wealth. Done too early, it can cost you your savings. Here is how to tell if you are ready.

Your book is consistently full

Before you take on rent for a whole shop, your own chair should be booked most of the week, with clients who follow you, not just the location.

You know your numbers

You should know what you earn each month, what your costs are and what a shop would cost to run: rent, utilities, insurance, licences, equipment, products and marketing. If you cannot write these down, you are not ready yet.

You have savings set aside

New shops take time to fill. Plan to cover several months of costs before the shop pays for itself, on top of your personal living costs.

You have a team in mind

A shop earns money from every chair, not just yours. Think about who you would want working beside you, and whether they would rent a booth or work on commission.

You are ready to lead

Owning a shop means managing people, handling problems and setting the culture. You will cut less and lead more, at least at first.

Start with a plan

Write a simple business plan: your ideal client, your services and prices, your location and your monthly budget. Lenders and landlords will ask for it, and it will keep you honest.

Go deeper

Rent the Chair or Own the Shop, in the GSWAU members library, helps you weigh the move step by step.