Any clued up business women out there?

[bunty197]

I’ve just found out there is a local hair dressing salon for sale in the town next to mine and I’m interested in taking it on. I studied business BTEC at college and passed with a distinction so I have a few ideas about business but no experience, I’ve worked in sales and secretarial work since leaving college. I have no savings as such but I was planning to borrow a deposit if necessary from my parents and get the rest of the cash from a business loan. I’ve got a business plan template from the HSBC website which I need to start filling out and I’ve got very basic details from the estate agent about the company’s assets and turnover etc. As anyone got experience in starting you own business and could you give me any tips or advice. Are there any good books I should read about starting a business you could recommend?
The things I’ve picked up on that I should worry about so far

Leasehold, 3 years remaining – what happens when this runs out. I’ll need to contact the estate agents and find out about this.
Clientele, if I took over this business I would make it young and modern using brand new products and take on a team of young adventurous stylists BUT the clientele at the moment and the local area is full of oldies wanting their regular blue rinse. I don’t know how well the change will go with the locals.
If anyone has got any advice or opinions please let me know. I know it’s being a bit adventurous but everyone has got to start somewhere. There is no point going through life thinking you can’t do something and “what if”. At least if I try and fail at least I know I tried.
Thanks

 

[GLAMOUR BEAUTY]

Hi

Why dont you set up a salon from scratch instead of buying the one you are thinking off

1. If this salon has the blue rinse cliental and you want it to be a young funky salon - this will be a waste
2. The decor sound if it will need changing
3. You have said that you already want to change products, you make have to buy the products left from the original owner
4. The staff in the salon now, if you want a new team you may have to take the old team on so check this.

Go into this with your eye wide open as hair and beauty are considered a luxury and we are in a credit crunch at the moment. I see salons every day including funky city centre salons and its quite everywhere at the moment, it will be made busy at xmas but again after xmas it will be quite again.