Top 9 Beauty Business & Hairstylist Grants

Starting or expanding a business of any kind - but particularly a beauty industry business - is far from a walk in the park. Logistical hurdles aside, the financial challenges of starting your own business can be overwhelming, especially for small teams of beauty professionals and self-employed hair stylists.

But here’s the good news - there are grants for hairstylists that can provide you with the support you need to grow your beauty empire. Unlike loans, grants for salon owners don’t require repayment, making them an incredible resource for budding entrepreneurs.

What Is A Beauty Business Grant?

Beauty business grants are a type of financial assistance awarded to individuals or businesses operating in the cosmetics, skincare, haircare, or any related beauty industry business. These grants are designed to support startups, expansions, and other business-related expenses. 

Again, unlike loans, grants do not need to be repaid, which makes them an attractive option for entrepreneurs looking to minimize debt. They’re often awarded based on criteria such as business potential, innovation, and community impact.

Grants can come from all kinds of different sources, including private organizations and industry-specific foundations. There are even government grants for beauty industry professionals!

While they do tend to be highly competitive, securing a grant can provide a significant financial boost, allowing you to invest in new equipment, marketing efforts, or even hiring additional staff.

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9 Best Beauty Business & Hairstylists Grants

Now, let's get into the meat of things - here are the top nine grants for hairstylists you should consider applying for.

1. National Association for the Self-Employed (NASE) Growth Awards

The NASE Growth Awards offer grants to help small businesses grow and thrive. With awards of up to $4,000, these grants for hairstylists and other self-employed people can be used for marketing, advertising, hiring employees, and other business-related needs. To be eligible, you must be a NASE member, a self-employed professional, or a small business owner.

This grant is perfect for beauty businesses looking to expand their services or invest in new equipment. The application process is straightforward, and the funds can be a game-changer for your business.

2. Amber Grant

The Amber Grant was established in 1998 to honor the memory of Amber Wigdahl. It awards $2,000 each month to a woman-owned business. At the end of the year, one of the monthly winners will be selected to receive an additional $25,000.

To apply, you simply need to tell your business story. The application fee is $15, and the process is designed to be accessible to all women entrepreneurs.

3. The Cartier Women's Initiative Award

The Cartier Women's Initiative Award supports women entrepreneurs from around the world. Each year, 21 finalists receive funding, with grants ranging from $30,000 to $100,000. This award also provides networking opportunities and business coaching.

Eligibility criteria include being a woman entrepreneur with a for-profit business that has been operational for at least one year. The application process involves submitting a business plan and demonstrating how your business is making a positive impact.

4. FedEx Small Business Grant

The FedEx Small Business Grant is competitive, but the stakes are high. With these grants for salon owners, you can receive anywhere between $15,000 and $50,000 to help fund your business operations. To apply, you’ll just need to create an in-depth pitch and fill out a completed application form.  

5. Minority Business Development Agency (MBDA) Grants

The MBDA offers grants to minority-owned businesses to promote economic growth and job creation. These grants can be used for various purposes, including business development, marketing, and training.

Eligibility criteria include being a minority-owned business and having a clear business plan. The application process involves submitting detailed information about your business and its goals. You will also need to obtain a unique entity ID number and register with SAM to apply.

6. Grants.gov

If you’re looking for government grants for beauty industry professionals, Grants.gov is the name to know. This is a platform that provides access to thousands of federal grants. By registering on the site, you can search for grants that match your business needs and apply online.

The platform offers a wide range of grants for small businesses, including beauty businesses and hairstylists. The application process varies depending on the grant, but Grants.gov provides resources and support to help you through the process to make sure it’s a low-stress experience. 

7. Freedom in Action Grants

Thanks to a partnership between Addo Aesthetics and the Liberté Foundation for Women, $10,000 is now available to five female entrepreneurs in the beauty industry. These funds can be used for business-related expenses, like education and new equipment, or even for hiring new staff.

These beauty business grants, like many of the others on this list, are competitive, but are meant to help women achieve “freedom through entrepreneurship,” whether that’s financial freedom, creative freedom, or anything else. 

You can learn more about these grants for salon owners here.

8. Fast Break for Small Business

LegalZoom has partnered with Accion Opportunity Fund, the NBA, WNBA, and NBA G League to offer the Fast Break for Small Business grant program. This program provides $10,000 grants and up to $500 in LegalZoom products and services to small business owners and emerging entrepreneurs.

To be eligible, you must be a small business owner with a clear business plan and a vision for growth. The application process involves submitting detailed information about your business and its goals. 

9. Start. Pivot. Grow Micro Grant

The Start. Pivot. Grow Micro Grant provides $2,500 each quarter to businesses that have been in operation for at least two years. To be eligible, your business must have annual revenue of $50,000 or more and have no more than five employees, including the owner.

The application process involves submitting a detailed business plan and demonstrating how the grant will help your business grow. This grant is an excellent opportunity for beauty business owners to access financial support and resources.

3 Benefits Of Beauty Business and Hairstylist Grants

Securing a grant can be a game-changer for beauty professionals. Here are some of the key benefits of securing funding for a beauty business:

1. Financial Assistance

The most obvious benefit of grants for hairstylists is, of course, that they provide essential financial support without the burden of repayment. This can be particularly beneficial for self-employed beauty professionals who may not have access to traditional funding sources. 

With a grant, you can invest in high-quality equipment, marketing campaigns, or even a new salon space.

2. Business Growth Opportunities

Grants, as well as any other type of funding for a beauty business, like loans, can help you expand your services, open new locations, or invest in advanced training and certifications. For example, if you receive a grant, you could use the funds to attend a specialized course in hair coloring techniques, making your services more diverse and appealing to clients.

3. Enhanced Credibility

Receiving a grant can enhance your business's credibility and reputation. It signals to clients and peers that your business has been recognized for its potential and professionalism. This can lead to increased trust and more business opportunities.

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Grow Your Beauty Business With GlossGenius

Starting or expanding a beauty business comes with its challenges and grants can provide the essential support you need to succeed. Remember, grants are great, but they’re just one piece of the puzzle. To truly thrive, you'll need a comprehensive platform that supports all aspects of your business operations. That's where GlossGenius comes in.

GlossGenius is an all-in-one platform designed specifically for beauty professionals. With features like online booking, marketing tools, and financial management, GlossGenius helps you streamline your operations and build a loyal clientele. Our loan options provide additional financial support to help you grow your business even further. Even though you have to pay it back, GlossGenius loans charge one flat fee with no compounding interest charges, collateral obligations, or late fees.

To help you save even more, GlossGenius’ POS system has one of the beauty and wellness industry’s lowest payment processing rates, and we don’t charge any add-on fess for different payment types or different rates based on processing volume. 

Ready to take your beauty business to the next level? Sign up for GlossGenius’s free trial today and discover how we can help you achieve your goals.

FAQ

How profitable is owning a hair salon?

Owning a hair salon can be quite profitable, especially if you have a strategic business plan and robust marketing efforts. On average, salon owners can expect to see a net profit margin ranging from 8% to 17%. 

How do salon owners pay themselves?

Salon owners typically pay themselves through a combination of methods, which may include taking a regular salary, earning dividends from profits, or using a draw method where they take money from the business profits as needed. The chosen method often depends on the business structure, whether it's a sole proprietorship, LLC, or corporation. 

How to get clientele as a hairstylist?

Start by providing top-notch service to every client, since word-of-mouth referrals are incredibly powerful in the beauty industry. You should also take advantage of free marketing tools like social media; consistently post high-quality photos of your hairstyles, engage with your audience, and use relevant hashtags to attract potential clients. 

How do you make money as a salon owner?

Some of the common revenue streams for salon owners include charging for services provided by stylists and other professionals working in the salon, selling retail products, and renting out booth space to independent stylists. Offering add-on services like scalp treatments or waxing can bring in extra income.