With no sign of the cost of living crisis easing, 2023 is set to be a challenging time for business owners. Having launched
F&M Hairdressing 22 years ago, Co-Founder Brian MacMillan has endured his share of economic crises, and emerged through the other side stronger. Here, he shares with HJ his dos and don’ts for running a salon business...
“Running a business is hard – there’s no other way to put it. As a business owner for more than 21 years, I’ve encountered many highs and many lows, difficult decisions, recessions, pandemics – you name it, our salon and our team has lived through it.
“Opening a salon was a dream for myself and my partner, Kevin. From the moment we opened the doors to our very first F&M salon back in 2001, we knew the journey was just beginning – and what a journey it’s been so far. The highs of course outnumber the lows, but there is so much involved with running a business that sometimes you will find that your mind is overloaded with information, numbers and decisions – all requiring immediate attention.
“There is more involved in running a salon than people might realise. Ensuring you are working with the best brands and products, providing your team with the highest standard of employment and opportunities, and the clients with the most exceptional services and surroundings – all takes time and dedication.
There are some important factors that you must remember in order to make your business the best it can be, while continuously building and growing at a steady pace.
Do…
…Take Your Time
As simple as it sounds, take your time when making decisions in business. We all make mistakes – it’s how we learn – yet taking your time to evaluate all avenues before making any decisions is key to avoiding mistakes or bad decisions being made unnecessarily. You will know through time if something is right or wrong, so take the time to process, research and over evaluate.
…Always Remain Focussed on Your Goals
When times get hard, giving up can seem like an easy way out - all the stress will disappear. However, don’t think this way. Focus on your goals, your visions for the future and your next level of achievement to keep you motivated when you are having any periods of difficulty. And of course, remember why you started.
…Ask for help and advice if you need it
Don’t think you know everything in business, and equally, don’t think that you need to know everything. Asking people in specific areas for help is OK, and you will receive the best advice which will help you succeed and grow. Reach out to fellow salon owners, other local business owners and those who work in similar fields – you will be overwhelmed at the amount of help and advice you will receive. We all started somewhere and sharing is a way of helping and allowing our industry to evolve.
In the spirit of helping our industry to evolve, you're not going to want to miss the Hair & Beauty Charity's Spring Party.
Don’t…
…Splash the Cash
You must be smart when it comes to finances; always having a hand on this and ensuring you have a back-up plan is essential. Working hard will show your success but be careful – no one could’ve predicted the pandemic or the strain of the last recession, so make sure you have funds saved to cover any unexpected scenarios or emergencies.
…Make Quick Decisions
One of the things I have learnt in business is to take time and process every decision. Quick decisions are often mistakes, or can lead to mistakes – so evaluate and take your time before committing or going ahead with something.
…Grow Too Quick, To Soon
Growth is amazing for a salon – in fact, for any business. It's a sign of progression, a step in the right direction and elevates the business. However, be careful not to grow too soon. Running a business is hard and doubling the workload can have a negative effect on you as an individual and your business if it all gets too much. You will know when the time is right.
