Business venture

[nailbird]

Hi all
I currently rent a room and have done ok, I now want to expand and get a salon I'd like to ask for any helpful tips/advice you could give me. I don't really understand the whole business rates, lease hold etc. I'm also thinking of trying to go the self employed route to other therapists and would like to know how some of you have done it ie rent a room, take a percentage etc .
As you can see I need all the help and advice you can give.
Thanks geeks

 

[Charlottetx]

Hello

i am in the same boat!! I currently rent a room, and looking to expand for my future - more opportunities, also where i am i disagree on certain things and being within another business you can get tarred with the same brush.. i would like to be on own - my own way/standards!!

At the min im paying one rate, which covers rent, electric, water ect
i know that having a shop you have your rent, electric, water, phone/internet, business rates (goes to the council, but depends on the size of the shop/business i think) then PPL for music, and your waste ext

Its defo a lot more to pay out for, but i do think you can budget with somethings, and be organised it can be easy. At the moment i am paying far to much for my room, and i think having a shop wouldn't be that much more expensive, but having someone to rent a nail station or room would help! Also i think you can increase your prices slightly, as its a better place for customers ect.

Are you thinking of a central shop? How long have you been in business?
What has made you want your own shop?

Speak soon!! xxxxxx

 

[nailbird]

Hi ya
I'm the same just rent a room with bills all in which has been good I've been there for 8yrs. How long have you been in your room for?
I know the feeling of not agreeing with other people's ways that's what made me start out in the first place, my reason now for wanting expansion is the salon I'm currently above doesn't allow me any shop window so my advertising is word of mouth or expensive ways, also the salon owner is due to be retiring and she has kind of lost interest in her salon and its an older lady salon not what I want my salon known as, and competition in the area has increased and it made me think I just wasn't progressing and to be honest I got stuck in a rut a little bit so it's nice to have a new project.
I would like to have a salon in or around the town I live in as I already have a client base there, I've been looking at websites giving info on setting up just at a bit of a muddle on where or what to start on first so it's lots of research ATM .

 

[souz]

ok ladies think of your shop exactly the same way as you would if you were buying/renting a house.

Freehold is where you would own the whole building where as leasehold is where you are only responsible for part of it. For example if you were buying/renting a flat then you wouldnt own the whole building as there would be other flats so you would only own yours which would be leasehold but you would be responsible for a share of the upkeep of the whole building....does that make sense!

Business rates - these vary from area to area and check with your council as at the minute there are free business rates until march next year. Business rates are just like council tax, a set amount each year payable monthly. They can be as much as the rent!

As for leasing out to therapists, yes you could do that to guarantee money coming in but make sure you set out some rules so that the therapist knows what she is responsible for, what bills are included and what you expect her to wear even though she is self employed, she will still be representing a part of your business!

There are always hidden costs when opening a shop so make sure that you have rent money for a few months, money for repairs and of course solicitors fees.

good luck xx