💰 How much does it cost to open a new grooming business?
Opening a Grooming Business: How Much Money Do You Really Need?
Ah you’ve finally made the decision to take the jump and start your own grooming business.
You’ve been itching to be your own boss and finally make the money you deserve.
But you probably now realized there are a lot of questions that need answers.
One of the most critical being: how much does it cost to open a grooming business?
There are so many variables that come into play – mobile or salon (brick-and-mortar).
How will you finance your new business and what avenues are there to secure financing?
Well, here at The Daily Groomer, we did the hard work for you.
Read on as we break down the costs of opening a grooming business, how they differ between salon vs mobile, and checklist of things to help you navigate this entrepreneurial journey.
Lets dive in!
💸 Before you make “money moves”, follow this checklist!
✅ Determine whether you are going Mobile or Brick & Mortar - Mobile business may have lower monthly costs than a brick & mortar business, brick & mortar businesses usually have cheaper upfront costs.
✅ Draft a business plan - to help you understand the unique elements associated with your business. If it helps, here’s a guide detailing How To Create a Business Plan.
✅ Create a list of startup expenses - Make a comprehensive list of all the expenses you'll need to pay before your business can begin making money. I’m talking everything from shampoos to rent, to utilities, marketing, and grooming software.
✅ Estimate the costs of each item - once you have a list of expenses, it's time to estimate the cost of each item. This can be pretty grueling, so I put together a sample here:
✅ Add up your estimated costs - After estimating the costs of each item on your list, separate out the upfront costs and monthly recurring costs. Then add up your upfront costs to get the total starting cost. To know how much your business will cost a year, add up your monthly recurring costs and multiply the total by 12.
Again this is can be ALOT so here’s a calculator to help:
