• Graham Henrickson

Risky Business

Updated: Jul 8, 2019

When it comes to owning your own business, hair and beauty salons are harder than most. That’s because the business is at risk before you even start.

A study of Sydney salons helped idResults identify common business conditions/factors that are critical to a salon’s success. These factors are industry specific and the same for every salon regardless of size or location, or if they’re new or established.

It therefore stands to reason, that taking them into account will increase the likelihood of a salons success and shorten the time it takes to achieve it.

Unfortunately, the same study revealed few salon owners know these factors exist and just like entrepreneurs in other industries who have put everything on the line - most are consumed by the daily demands of running their business. Every spare moment is spent ‘doing business’, leaving little or no time to think about ‘how they do business. Even if they had time, conducting a business analysis requires experience and skill.

The idResults Salon Diagnostic answers this challenge. Thirty+ years’ experience in strategic planning was combined with industry expertise to provide salon owners with an affordable and easy to follow 3 step solution.

Step 1 – It begins with a diagnostic questionnaire that was developed exclusively for salons and designed to obtain the vital information needed about a salon from those that know it best - the owner and key people who work there. One is for hair and the other for beauty salons.

Step 2 – The information gathered is subject to an independent review and analysis and used to define the unique operating context of the business and identify its risks and opportunities.

Step 3 – Clearly defined objectives are set, and a detailed plan is prepared to achieve them.

This is summarised, documented and presented to the owner in the form of a strategic plan. Specific to the needs and conditions of an individual business, it provides the owner with a roadmap to success.