o Are there any environmental issues, e.g. waste water disposal that could cause you problems in the future?
More details can be found at the
Business Link Web Site.
Having satisfied yourself on this the next step is probably to raise the finance required to allow the purchase to go ahead.
Don't forget to allow for any additional costs that will be incurred in refitting the salon and new equipment that you might require.
Any lender will want to see your detailed business plan to satisfy themselves that the business will generate sufficient cash and profits to repay their loan. Indeed, you yourself also need to make sure the business will be profitable before risking the purchase.
The details you will need to include in your business plan include:
o
An executive summary - this is an overview of the business you want to start.
o
A short description of the business opportunity - who you are, what you plan to sell or offer, why and to whom.
o
Your marketing and sales strategy - why you think people will buy what you want to sell and how you plan to sell to them. o Your management team and personnel - your credentials and the people you plan to recruit to work with you.
o
Your operations - your premises, production facilities, your management information systems and IT.
o
Financial forecasts - this section translates everything you have said in the previous sections into numbers.
Further information is available at the
Business Link web site You are legally required to make sure that anyone either visiting or working in your salon is safe.
This will include:
o
employees working at your premises, from home, or at another site o
visitors to your premises such as customers or subcontractors
o
members of the public - even if they're outside your premises
o
anyone affected by products and services you design, produce or supply To show that you have taken this into account you will need to have a policy on Health and Safety, if you will have five or more employees then this policy will need to be in writing.
You will also have to carry out Risk Assessments not only for the salon itself but also for any chemicals that you will be using in the business.
Lastly you will have to meet with other legal requirements including:
o recording and reporting accidents
o consulting with your employees on health and safety matters
o making sure that your employees understand and obey any rules you might have regarding health and safety.
For further information visit the
Business Link web site and
The Health and Safety Executive web site.