How to Run a Business … Hairdressing Apprentices Find Out
Coventry and Warwickshire Chamber of Commerce Training’s advanced hairdressing apprentices have added a new set of skills to their portfolio having learnt what it takes to run your own business. Hairdressing offers many opportunities to pursue self-employment and it is essential for anyone considering this route to know the key elements of running a successful business, including developing plans and understanding finances as well as building a customer base. Coventry and Warwickshire Chamber of Commerce Training’s hairdressing apprentices heard from the business start-up experts from the Chamber of Commerce as part of their apprenticeship studies.
Wendy Brown, Business Adviser from Coventry and Warwickshire Chamber of Commerce confirmed the importance of understanding how business works: “It is not just about being a great hairdresser, as it is equally important to understand the mechanics of business, especially the financial implications.” The apprentices heard about profit and loss, business planning and customer growth; the importance of research, setting goals and targets, pricing and business structures, including rent-a-chair which is common in the hairdressing industry.
The apprentices focussed on money and consideration of what their income would be used for. Wendy advised them to keep in mind the costs of accounts, seasons, promotions, the cost of living, a cancellation policy, data protection, insurance requirements and health and safety, including testing of products and use of equipment. Public liability and professional indemnity cover were also hot topics for discussion. The self-employment course gave the advanced apprentices food for thought as they plan for the next stages in their careers.
