Although hairdressing businesses rely on discretionary spend, it’s one of those professions that seems to be virtually recession-proof. Fact is, once people find a hairdresser they like, they tend to stick with their preferred stylist through thick and thin – even to the extent of travelling long distances following a house move, for instance. There’s a lot of geographical flexibility, too. Most towns have multiple salons – even small villages often support a hairdresser or two, usually operating out of modest premises. Which means that if you’re on the hunt for a hairdressing business, you’re sure to find something in your immediate locality.
Stylists often start out by setting up a mobile business with the minimum of equipment or by ‘renting’ a chair in an established salon. Some go on to open their own salons from scratch. But if you want to acquire a business that already has bookings, regular clients and a full complement of specialist equipment, buying an existing salon could be a smart move. Obviously, buying a hairdressing salon will be more expensive than starting your own in the short term but it also means you’ll hit the ground running with an income stream from the first day. You’ll need to be confident the salon has a good reputation and that the equipment is valued fairly - and–you'll probably be wise to insist on a non-competition clause within a specified geographical area.