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The fashion needs of people are increasing nowadays that leads entrepreneur to come up with creative business. Hair styling is also a part of fashion that is growing incredibly. Such things promote hair stylist to grow up with new business (Morreaux, 2014). The business of hair dresser is to deal with the maintaining and styling of hair. The people having creative ideas in respect with hair styling can promote them to have a profitable business. Setting up a stylist business has become a popular choice due to the possibilities for creative expression, unique selling points, expanded services and wide market (Councils and Singleton, 2013). With an increasing need of hair stylist and related services, entrepreneurs are moving towards setting up a hairdressing business. The people of London are more concerned towards their fashion therefore; the demand of hair dressing business is growing (Self growth, 2015). Hackney centre is having Local Street with well established chains ranging from Marks & Spencer to Primark and so on. The area is full of quality outlet stores for big names like Burberry. The place creates a shopping experience for customers (Remmelberger, 2014). The particular centre is very engaged area with customers and number of walk-ins. The present study is focused towards identifying and analysing the opportunities for setting up a hairdressing business in Hackney central in London.
The business of Hairdressing is too diverse and depends upon the requirements of clients and the available resource with entrepreneur. Hairdressing can be seen as the art of arranging the hair or otherwise modifying its natural state. The business is somewhat related to headgear as the people wants to match their hair style with cloths that they have wear (Liao, 2014). The business of hairstylist is proved to be profitable business in case the services are provided by a hairstylist and that suits with the requirements of clients. Hairdressing is a huge industry and one of the most widespread types of businesses in UK. The fashion is the priority for people that are living in London as they live in a western culture. A professional hair dresser can have all the resources that can meet the requirements of people. Hackney centre is the engaged area of London that attracts people from different regions for shopping and other leisure activity purpose. The area can provide number of opportunities to the Hairdressing business holder to attract the customers and for expanding business (Authority, 2014). The fashion needs of people and their commitment towards spending their earning on such activities provide a path to hairdresser to identify opportunities for setting up a business. The present study provides hairdressers to go through the opportunities for business in Hackney central, London. It includes the information based on which the Sole trader hair stylist can take viable decisions.
The business of hairdressing is the most widespread types of businesses in UK. Further, it can be said that the market of UK is highly competitive is respect with hairdressing business as there are over 35,000 hair salons across the region. In respect with Hackney central and the opportunities for setting up hairdressing business, it is the biggest question that aims to be found in the present report. The location for business matters a lot for entrepreneur as the success of business depends upon the region in which it is going to be operated. Hackney central has proved to be an ideal location for fashion stores as there are number of fashion store in the nearby area (Londown town, 2015). In addition to that, the entrepreneurial streak is strong in Hackney due to vast array of independent shops, boutiques and shopping markets (Cleland, 2013). The question is whether the area is suitable for hairdressing business or not. There are number of factors which affect the new business such as location, cost of business, etc. among which location is the most important factor that affects the business operations. The present study is aiming at analysing the opportunities for setting-up hairdressing in Hackney central, London. The study is significant for decision making relating for starting up a new business assignment. Along with this, it will help the potential entrepreneurs to come up with the requirements for new hair dressing business in Hackney central in London.
Aim: The major aim of present study is to analyse what are the opportunities and challenges in setting-up Hairdressing business in Hackney central: London.
Objectives: Following points represent the objectives of study:
Review of literature is the crucial part of study that attempts to present the finding of authors in respect with the topic of research. The present study is aiming at finding out the opportunities of setting up a hair dressing business in Hackney central. The below paragraph throw light on the studies of various authors in respect with hair dressing business.
According to Yazdanfar and Abbasian (2014), fashion has become a priority for people with a growing age of changing needs of individuals/ on the other hand Council (2014), has said that people are more concerned towards grooming themselves. Hairdressing is also a part of fashion that applies to change the hair style of individuals as per the latest fashion requirements. According to the recent statement of London Fashion Week organizers, the customers are more focused to have hair style that will goes to their cloths. West, (2012) stated that hair styling business has become an integral part of fashion industry. Adding to this, defining hair dressing modern look has been the major switch for fashion industry. Western countries are considered to be the leader of fashion initiatives from which the fashion goes to further part of countries. Pine (2011), has revealed that the needs of hairstylist in London has been increased from the past decades. Hence, it will be true to said that hairdressing business is becoming popular of hairdressing business in London. With the beginning of 21st century, the fashion trends have exploded exponentially that enables industry dealers to arrange their requirements as per the needs of clients. Councils and Singleton (2013), have studied that the perception of customers towards hair styling have been changed. They want to have a look as per current fashion trend not only for cloths, but also for the hair styling as well.
Starting up a hair dressing business requires many things to go with. According to Cleland (2013), the new hairdressing ventures needs to conduct a marker research for identifying the opportunities in market. In addition to this, Makibelo, (2014) has revealed that the needs and wants of customers are the most important things that need to be focused on. As per the findings, starting up hairdressing business has become popular due to possibilities for creative expression, USP and demand. The changing needs of customers after 20th century when fashionable hair styles has become a major part of fashion has promoted individuals to set up the new ventures. Authority (2014), has said that the hairdressing business holders need to be customer focused and friendly. Further, the cost of business is also a major factor that requires to be given attention. The findings of Yazdanfar and Abbasian, (2014) have revealed that most of the hairdressing businesses are a common sight on high street. Therefore, the location (Hackney central) can be the best place for opening a new venture. In addition to that, the place is full of fashion stores that provide huge opportunities for attracting customers. According to the words of West, (2012) hairdressing businesses rely on walk-ins. Due to this, the place can provide opportunity to gain customer attraction. The business of a hair dresser builds around repeat appointments that can be gained through quality of services and uniqueness in services (Kuada, 2012). The service provider must be professional and proficient in an extensive range of electrical items including hair-dryers, hair straighteners and curling irons which is the foremost requirement to set up a business in the sector. Within Hackney central, there is few hair salons that are found and which represents the opportunities for business. However, there is a huge competition in hairdressing industry throughout the London that leads to provide outstanding and unique services to the clients.
Above Literature review is conducted on the basis of previous studies which are done by various authors. The findings of various authors have stated that the trend of hairdressing is increasing throughout the country which promotes hairdresser to start up a new venture. At the time of preparing LR section, it was identified that very few studies have been conducted in respect with the hairdressing in Hackney central. Although, literature part represents the availability of requirements of setting up a business in hairdressing sector but it was difficult to identify the scope of such business in the particular location. Very few studies were conducted in this regard. For setting up a new business, investment cost matters a lot that will affect the hairdressing bushiness in Hackney central. Although, the cost of setting new ventures can bed high in the Hackney central as it is the most famous place. It will be difficult to rent a shop in Hackney Street. Most of the hair dressers are providing traditional services to the clients, thus new venture needs to come up with USP to gain the market shares.
The construction of above report was helpful for me in developing my knowledge in the research area. To open a new business in engaged areas, proper research is required as it provides opportunities for developing a successful business. I could say that the complete trajectory of setting up a business has also become clear to me with the help of this study.
I can ensure the enhanced knowledge with regard to the construction of research report as well. Earlier I have faced number of obstacles to complete a research project but this study has helped me to overcome this challenge and now, I can surely adopt the appropriate research tools and techniques in appropriate manner. Now, I am understood with the tools and techniques that are used to conduct a research process. I have enhanced my knowledge and understanding for opening a new business. I have understood what factors are needed to be considered at the time of planning of setting up new business. In addition to this, I am aware with the trend of hairdressing business and now, it becomes clear that without focusing on the factors that are affecting business, it will become difficult to open a new business. Further, on the ground of applying research tools and techniques, I have gained huge confidence and better understanding. Overall, this research report has enhanced my research knowledge as well as enlightens my viewpoint about the subject matter. It will ensure my academic as well as professional growth.
Research methodology is the crucial part of research that determines the manner in which research has been conducted (McBurney and White, 2009). This is the important part that helps in attracting the aims and objective of study. Following points show the research methodology which is used for the present study.
The entire study was conducted to identify and analyse the opportunities for setting up a hairdressing business in Hackney central in London. With the help of data analysis and secondary study, valid conclusion for the research can be made. The secondary data shows that the trend of hairdressing business has been increased as the people are more concerned towards their hair styling. In addition to this, Hackney central in London is the most engaged area for shopping for the people of London. The individuals who are thinking for starting a new hair salon, they can come up with innovative techniques so that the attention of customers can be gained. The business owners are recommended to introduce Mobile hairdressing scheme at their new hair dressing salon in Hackney central so that more customers can be attracted.
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