Buy business or set up shop?

[xkayla_herex]

I currently have my own salon (have had it for 6 years) however I have to leave the shop I'm in as they are putting a new development of flats and a supermarket.

I had been looking at other options and as there were no shops locally to rent I went down the root of buying a new business in the area I live. (My current salon is only 20 minutes drive)

However a shop has come available 5/10 minute walk from my current shop. It's a good size (double fronted) and the rent is 5k more than what I pay now.

Trouble is I am currently going through the process of buying a business.

I know it's really bad practice to just pull out of a deal- but if it's better for me I will just have to.

What would you do in my position? It seems silly to buy a business when I already have a client base. I'm worried about loosing people because it is abit further away from the shops where my current shop is and the parking is ok but not the best plus I will still have to be spending money to do the shop up.

My question is how hard is it to set up a new salon in a shop? Are there any regulations/ checks I have to make? Has anyone else done this and came across problems?

Does it cost a lot to set up a new shop? The floors are fine it's just building rooms- putting studd walls up then electrics- not sure if this is costly and then putting doors in the rooms.

I know it will cost more to buy a business but the other salon could potentially make more money.

Any advice would really be appreciated.

 

[jbr]

It won't necessarily cost more to buy an established business once you've taken set up costs and building cash flow into a new business - it may well be cheaper.

You may need planning consent or building control, or a change of use consent if it's currently a shop, but it varies from council to council so you will need to check with them. You may also need fire doors and fireproof walls - again, depends on pls what you are doing and where you are. Good luck! xx