A big step, need some advice!

[foxylocks]

My friend and I are looking to take over a barber shop. The owner is ill, and close to retirment age, and is letting the shop initially for a year, to see how it goes.

We have an appointment withthe estate agent later, and I really really want the place!!

What questions do I need to ask?

I have found out about business rates, rent, clients (the salon already has a long standing client base of gents, but we will also be doing lady's hair)

It all just seems like it's too easy, and I know something is bound to go wrong!

Thanks. x :lol:

 

[persianista]

It really can be that easy, It's how I uilt a chain!
Buying an existing business is by far the most straightforward way into salon ownership. I never understand why so many on here want to start from an empty shop.
It is far cheaper to pay for goodwill (the client base) than to spend on advertising to build one from scratch.
Best of luck x

 

[foxylocks]

thank you!! I'm so excited, because I know that it really could completly chnage both of our lives!! I just really really hope that we get it!!!!!!! :green::green::green::green::green:

 

[jotommo]

hey, i had my own barber shop (sold as i had kids) lol
i'd say go for it especially if it is up and running!!
i built mine from scratch aand it took a good 3 years to make real money.... another reason i sold is i wasn't allowed to do ladies as the row of shops had a ladies up the road :irked:
so i would say you could make a bomb! ££££££££££££££!!!!!!!!!
good luck
xx

 

[jes]

I would suggest that you listen to what the agent has to say, ask a few questions, but make sure you do not agree to anything. Personally, I can't see the point of a one year lease, so you could see if they'd offer something longer.

If you like what you hear, then find a solicitor, who specialises in this sort of thing, and let them take over from there. IMHO you should never take on a lease without one. Taking on a lease on a property means you could be responsible for it's whole structure and the ground it stands on. A solicitor will organise (where needed) structural surveys, plumbing and drainage surveys and contaminated land surveys etc. Taking over a business means you'll could take over any depts, employee greivences and insurance claims etc that it may have outstanding ... again a solicitor will know how to check all this out

 

[foxylocks]

thanks ladies. Change of plan now tho!

The estate agent said that the owner really isn't looking for any changes to be made to his premises. However, there is another salon available, for the same rent (3-5 year lease) it was only built three years ago.

Only a couple of things I'm not sure about. The lady who currently has the lease is moving to another salon about 5 miles away, and therefore I assume she will be taking her clients with her. Also, it's in a large village, not in the town.

But it's a gorgeous salon, and the village has a population of nearly 4000 people.

What do you think???!! :green:

 

[jes]

Well, if she's moving to another premises I'd imagine she's taking her business (and clients) with her, leaving you no business to take buy or take over? In which case you'll be starting from scratch.

More importantly, why is she moving such a short distance? Is there something undesirable about its location that you don't know about? Is there something wrong with the building? As I mentioned in my earlier post, if the lease makes you responsible to maintain and repair the bricks and mortar, you need to make sure it's not falling down.... always use a solicitor!

jes

 

[foxylocks]

thanks for the advice.

It seems that the reason she's moving is because her husband is a builder, and has built her a new salon, in the village that they live in.

Apparently the owner will be responsible for the actual building, we are just responsible for the interior.

It's in a good location, it's right in the centre of the village near the other shops.

I've sent my Mum there today to have a trim(!) and do a bit of detetive work!