Look along any high street and you’re bound to spot a hairdressers. Viewed as an essential part of many Brits’ grooming habits, hairdressing salons have remained relatively resilient over recent years, in spite of the challenging economic backdrop.

The 29,415 hairdressing and beauty salons in the UK rake in annual revenues of £4bn, according to a report published by market research firm IbisWorld in January. And while many other high-street sectors such as food, coffee or fashion face strong competition from major corporations (think a local newsagent competing against a Tesco or a coffee shop trying to hold its own near a Starbucks), the hairdressing industry has no such dominant player, meaning it naturally lends itself to independents.

So whether you’re considering opening a small, relaxing hairdressers, a super slick salon or a traditional barbershop , what do you need to consider before pulling out the scissors?

Consider the costs

The large number of hairdressers signals the relatively few barriers to entry when it comes to opening a salon. Like most businesses, it’s worth putting together a business plan, says Hilary Hall, chief executive of trade body National Hairdressers’ Federation (NHF). “Most people have a good understanding of the industry, but they struggle with the business and the finances. Business planning and getting the finance in place are crucial.”

Potential owners should assess the costs of opening a salon, which tend to range anywhere from £3,000 to £35,000 depending on how much the property needs revamping. If possible, it may be more cost effective to take over an existing hairdressers, which may still have facilities, than to rent or buy a property and convert it. Costs such as hiring staff, rent, business rates, marketing and buying products and equipment should also be taken into account.

Chloe Zumeris has been running House of Locks at Newington Green in north London for the past two years after she paid the existing owner a goodwill fee of £20,000. “I always knew I wanted to run my own business. I didn’t have a written plan but I had in my head exactly what I wanted to do. I had to make it work as it was what I wanted to do.” She closed the salon for three weeks while she rebranded the business, making it more stylish and contemporary.

She advises would-be salon owners to create a moodboard of how they’d like their salon to look. “I was working with a lot of guys to help set up the business and had difficulties trying to get across how I wanted the salon to look visually. In the end I created a moodboard and showed them what I was after.”

To cut down on costs and to test the water, you could consider running a mobile business or opening a salon in an existing shop. Hannah Mlatem chose the latter, opening a three-chair salon in a high-end bridalwear shop in Abergavenny, Wales. “It was a good middle ground before taking the full leap,” says Mlatem, who paid rent monthly. She was able to build up her own clients at the salon, giving her the confidence to set up her own eponymous salon in Gilwern a year later and taking on an apprentice.

Adhere to rules and regulations

In the UK you do not need to have any qualifications to practise as a hairdresser or barber. Salon owners may wish to register with the Hair Council, a statutory body set up by the Hairdressers (Registration) Act 1964. However, it is voluntary and IbisWorld estimates that only 2% of hairdressers have signed up.

Another organisation they can join is the NHF, which offers members a slew of news, events and information on the industry, as well as services such as free employment contracts and chair-renting agreements. NHF says you will need employers’ liability insurance and, as you and your staff will be working with electrical equipment, it’s important to regularly check all portable equipment and have electrical items serviced every two years by a professionally accredited electrician.

If you’re going to include hair colouring on your menu, you’ll be tied to the Control of Substances Hazardous to Health regulations. Allergy tests must also be carried out on clients before proceeding with a colouring.

Stand out from the crowd

“Consider what niche you’re going to occupy,” advises Hall. “There’s so much competition around, it’s good to have a point of difference.” With the trend for male grooming, she cites barbers as a key growth area, as is offering hair extensions. She adds that adding colour services is a “must for any salon”.

Setting the right price

David Rozman, who has run his hairdressers in Manchester for the past nine years, based his prices on what his previous salon had been charging clients. He advises those looking to set up a business to “work out their fixed costs, variable costs, staff costs and how many customers you would need a week. Basically, look at your overheads and work out what your break-even point would be.”

House of Locks’ prices range from around £30 for a men’s cut to about £95 for a full-head of highlights. “I did a lot of research before I opened,” says Zumeris. “I checked what other salons were charging and I carried out customer surveys.” On an average day, she says, the salon attracts around six clients, with nine on “a good day”.

Location, location, location

Carefully consider what kind of location you’d like to open your salon in and what kind of customers you wish to attract.

“Location is one of the most important things to consider,” says Zumeris, whose salon sits opposite a relatively busy green in a fairly affluent part of London. “It’s really got to be somewhere that suits you. I know a friend who is looking to open a salon in the West End – that might suit them but them wouldn’t suit me. Find somewhere that suits your personality. I love chatting with clients; getting to know them. If you want people coming in and out quickly then you might want to try opening in somewhere like the City.”

Tough work, but plenty of job satisfaction

Like any business owner, you’ll have to sort out your own tax, deal with staff issues and it won’t be a simple 9-5 job. But running your own salon is rewarding. “I enjoy my clients and being creative,” says Rozman. “Ultimately I enjoy coming in, getting good feedback and knowing we’ve done a service that makes people happy.”

Mlatem, who left a 10-year career in journalism to pursue her dream of becoming a hairdresser, hasn’t looked back. “I love what I do. It’s a labour of love. I work 12 hour days – I’ll be networking, doing social media and going to events on an evening. But you’ve got to follow your heart.”

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