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Building a Beauty Business: Planning, Research & Finding Your Niche | Ajia Minnis Cruz Lanham | CEO+ Owner & Founder | Thrive Hair Bar
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Tune in as Ajia shares her insights on business planning, funding, customer experience, and creating a niche in the beauty industry.
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KEY TAKEAWAYS:
🔅From Tech Sales taking her around the country, Ajia always had a challenge finding someone to work with her natural hair, so she opened Thrive Hair Bar to fill this gap.
🔅If you want to open up your own business, make a plan and do your research. Who is your target audience? How are you going to fund it? Have you looked into grants? Google: “government grants” and use that to start your research!
🔅The difference between a salon and a suite is that a salon is a team and cohesive experience, while a suite is a one-on-one experience with walls separating everyone. These are very different customer experiences.
🔅Thrive hair bar does not do any chemical work or extensions. So, stylists who want to do those services are free to work elsewhere or have a suite to do those services.
🔅Creating membership and unique experiences creates stickiness for customers through brand loyalty and ecosystem inclusion
🔅Funding your business can come from grants, savings, 401k loans to yourself, investors, and loans. Make sure you are asking for enough money for a runway. If you are taking a loan or hitting up your 401k, make sure you calculate the ROI first to make sure this move is worth it.
👉Follow Ajia on IG here.
👉Follow Thrive Hair Bar on IG here.
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