How to adapt your business model successfully

Sean Alexander shares some key insight on how to adapt your business model to cut costs and stay successful during a cost of living crisis

Now the owner of Sean Alexander Hair Studio in Walton on Thomas, Sean first made the jump into the world of self-employment work back in 2019. “I wasn’t getting what I needed from the industry – it was really impacting my mental health,” Sean explains. “Despite being petrified, I knew I needed to go self-employed! After some positive words of encouragement from my partner, I rented a chair at a salon local to me,” he adds. While Covid may have added complications to Sean’s first year as a self-employed hair pro, in the months that followed it became clear it was the right decision, and it was time for Sean to take his career to the next level.

Looking to new locations

“In 2021 I established I needed my own space. As a one-man band I found it difficult to secure a visible yet affordable premises,” he says. Though incredibly deflated, Sean continued to persevere and consider more unique locations.”A friend told me about a local business centre that accommodated a variety of different business models. After making a phone call and enquiring, by the next day I had a viewing. Once I saw my unit for the first time I knew instantly it was the one!”

Where the studio doesn’t have a traditional shop front, for it to succeed it was vital that Sean had a strategy in place to attract new clients. Aware of the power of social media, Sean’s aim was to make the studio as Instagrammable as possible. “It has a fun ’80s aesthetic which is great for capturing content,” he states. “It ensures I have a steady supply of new clients coming in.” Sean is also a big believer in in entering awards to keep the business relevant and attract new clients. Word of mouth has also been hugely helpful in building awareness for the studio in the business centre.

Though Sean has worked had to establish a strong client base, he did initially have some reservations and self-doubt because of the lack of visibility. Despite this, Sean says the business model so far has been a huge success, with the salon picking up multiple awards. “I feel post-covid clients are really embracing independent businesses, and looking for a more personal and bespoke experience,” he explains. “Also, due to the size and position of the studio I’m exempt from paying business rates and council tax. My bills are also all included in my monthly rent, so it’s been really beneficial for keeping costs down while in a cost of living crisis.”

For Sean, the studio also provided an incredibly important opportunity to give back to the freelance community which helped him pre-covid. “My studio is a base for any self-employed hairdressers embarking on the same journey I once did,” he shares. Two years in, I now have three stylists in one day per week each. It’s proven to be a great additional revenue stream while also feeling like I’m still part of a team.”

How to make the transition work for you

For anyone else looking to adapt their business model, Sean suggests starting with a smaller commitment. “Begin by renting a chair. This is a much lower commitment and you can gauge what your income is,” he says. “Once you know approximately what you’re earning, you can find a premises relative to what your income is. Ultimately everyone is different but there are so many options out there including co-working salons, salon suites or business centres like mine. If you have the space, you could even build a garden room or convert your garage.”

Likewise, when looking to shift the way you work, it’s important to be realistic with your workload. “When you’re self-employed, suddenly you become all roles rolled into one,” he comments. Reflecting on the initial transition period, Sean says he got very overwhelmed. “Setting aside time to do those extra jobs is important so you don’t get burn out. The best thing I ever did was investing in an online booking system, shout-out to Slick. It’s alleviated so much stress from my life and given me more time for me.” 

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