Business question!!

[Melanie89]

I dont know if my luck maybe changed a little for moaning this morning on my blog lol.. a few weeks ago i was in talks with a new development in my local area. They are building and have nearly finished new flats just around the corner for me that also have retail space underneath. I was hoping to open a nail/beauty bar with small hair section too. At the time i was looking at a space of 777 sq and the rent was about 12000p/a (15pound sq/ft) which I went back and said was obviously too expensive. He now has emailed me about 10 minutes ago saying he spoke to the client about my situation and said they have agreed to lower the rental to 12 pound per sq/ft in a space of 580 sq feet lowering the rental to 6960 p/a!! also because im in scotland the rates would have a 100% discount. I think its a good deal for a brand new retail space in an area that has nothing of my sort close around, would you guys agree? Also how much would you think would be needed for kitting it out, i already have my furniture for me doing nails and storage and products. would the room being rent out to a beauty therapist have to be kitted out by them? I'd like to hear your thoughts incase im getting over excited by this sudden drop lol.sorry to ramble on xxxx

 

[lisa82]

hey Melanie, sounds fab! Hope it all goes to plan!
No idea about kitting it out, but I would have thought it would be down to you, and could work out very expensive.
sounds like an ideal location and like the right price though! Good luck

 

[kimi1101]

Well how lucky are you! Sounds like a good deal. Is it In a good area, have u done some research into who lives In the area etc? To set up if you are looking to just move into the shop and no structural changes are needed like putting partition walls up etc then you may still need to get flooring etc which could cost a lot. I have a shop which is 95sq m and i spent around £ 6000 on everything. Its expensive! Where In scotland are you cos i know cheap flooring people and good printers and signage companies, these were all big cost things i managed to save on. Pm me if you want. Also for good 2nd hand equipment i used a site called salon-tec.co.uk i think but call the guy cos its not all on the website. Xx
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[Melanie89]

Yeah it is a good area, and a big variety of people, also good surrounding areas! Iv lived here for 2 and bit years now. Im in west lothian. as far as the plans look it looks like there are separate rooms which im guessing flooring will already be done, but will look into that! My uncle has his own company as a sign writer so im mostly sorted there will have a look at the furniture too! thanks xx

 

[kimi1101]

Make sure to say if they are putting flooring down that it needs to be not carpet esp if you are going to have hairdressing x
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[kirsty_]

sounds fab, go for it!!! i am in a similar dilemma but i cant get them to drop my rent and the rates are sooo high!! your situation sounds great and i wish you all the luck in the world.
as for kitting it out, it doesnt have to cost the earth, buy only what you need and dont go overboard. as for the room you may rent out, you can choose to kit it out or not and your charges can reflect this, depends if you want to have control over the colours and decor etc.
keep us all posted on everything, and enjoy every minute xx

 

[Saya]

Sounds like a great deal, but then it would as I'm in London!
100% discount on rates is brill, an alarming number of new businesses have gone bust, purely because they failed to get their head round and budget that in.

The new retail unit- is it a shell & core unit i.e. just a concrete shell that needs utility services put in? Getting the meters in takes ages! so hopefully you don't need to do that.
And be vigilant of dodgy energy providers, they will start hounding you the moment your telephone goes live, don't fall for 'we're the cheapest' or 'we are calling from your metering company'..
Make sure you have a valid MPAN number (your electricity meter serial number which they should have newly registered) and a valid postcode from the vendor before completion.

When getting your fit-out quote, especially if it's from a 'friend', make sure you ALWAYS get a clear break down of everything they will do under that cost, as detailed as possible. If it's not on that list, don't expect them to do it. It means you can also query areas that seem expensive or find areas that can be up/downgraded, you might for example omit the cost of flooring cos you can finde it cheaper elsewhere etc.
Never give upfront payments, however they may need money along the way for materials and sub-labour (let them pay for the goods first then refund receipts if possible)
Get valid underwritten warranties from them if you can and always make sure that you use CORGI reg for boiler/ gas installation and NEIECC accredited for electricity (which you'll need to have the electricty meter installed)....

I'm a construction project manager by day, and have acquired my own new build retail unit which I've fitted out as a salon. So I should know a thing or two, feel free to PM me if you want to pick me brains : )

salina.x