How to start Beauty Parlour – Step to Start a Beauty Salon with a Low Budget in India
In today’s time, everyone wants to start their business after getting upset with the job. Some entrepreneur thinks that lakhs of rupees will be required to start a business.
But you can earn even with little money. For this, this business, government will help you. Under the government’s currency scheme, the government gives you financial help to start a beauty parlour business. You can start this business easily and make profit.
How to start Beauty Salon or Beauty Parlour in India with little money
There is much to consider before starting a beauty parlour or any other kind of beauty salon. It can all get far too confusing, especially if you start your first entrepreneurial journey or it is your first go at any kind of venture.
How to open a Beauty Parlour? How much does it cost to start a Beauty salon? Where do you even start? How do you prioritize?
It can be hard to figure out your course of actions, so, in this step by step guide, we have prepared a shortlist of things to keep in mind when opening a Beauty Parlour.
Let’s face it, starting any business, whether it’s a start-up or a big business, is a big deal. And if you want to get it right from the first try, it’s best to plan and prepare.
If you’re planning to start a salon, these step by step guide will be critical in helping you develop a successful and effective business plan.
A Beauty parlour can be a profitable business idea, but before you start one, you need an effective business plan and preparation.
- Finding a niche for your Beauty parlour helps you attract a loyal client base.
- The most important things a business needs to succeed are knowledgeable employees, good culture, and an understanding of what its services are worth.
Things you need to know before opening a Beauty Parlour in India.
If you have any space at commercial area or home then you can start beauty parlour business. You can also start by rental space in the market. If the service is good then the number of your customers will automatically increase.
The total cost of starting this business is ₹ 2,5000 to ₹ 3,00,000. In this, the fixed capital is apx. ₹ 1,50,000 to ₹ 2,00,000, in which all the expenses like equipment, chair, machinery, mirror, furniture are included in this.
Also, to start Beauty parlour business, you need a working capital of Rs. 75,000. This includes the cost of raw materials like facial cream, shampoo, dye, wax, water, towels, rent, electricity, salary of the staff, telephone bill etc.
To promote the small industry in India, the government has prepared structure for the Beauty parlour business.
Pradhan Mantri Mudra Yojana
According to the structure prepared by NSIC, you will get a net profit of Rs 3,00,000 annually. Adding depreciation to this, you will have a cash surplus (including profit) of Rs 3,25,000 in the year.
In this way, you will get a profit of up to ₹ 25,000 every month. At the same time, to start this business, you will have to invest only ₹ 75,000 from yourself. This investment will also exit within 1 year.
In this, you will have to invest ₹ 75,000 to ₹ 85,000 from yourself. The term loan will be ₹ 2,00,000. Working capital loan will be ₹ 75,000.
You must have a place for this. If you do not have space, then it can be taken on rent, for which you will have to pay 3 rent in advance include deposit.
One beautician, 2 beauty experts and 1 helper will have to be kept in man power. 20,000 will be spent on their salary, which has been added to the working capital.
How to apply in Pradhan Mantri Mudra Yojana
You can apply in any nationalized bank or private bank near you under the Pradhan Mantri Mudra Yojana.
For this, you will have to fill a loan application form, in which these details will have to be given – full name, residential address, business address, your education, experience, how much loan is required, your current income.
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There is no guarantee fee or processing fee to be paid in this. Under the Pradhan Mantri Mudra Yojana, the loan amount can be returned in 5 years.