LondonEntrep
Member
Hi everyone,
This is my first post. Hopefully not my last though..
Been browsing around here recently and there seems to be a really good crowd with great industry knowledge.
Reason I'm posting now is for some pro/cons of buying a beauty salon. My wife and I are looking at buying one our area not too far away. The owner is selling due to health reason and we have both been there ourselves as clients and really like the place, the service and the brand itself.
I expect some clients to leave as they loyal to their therapist the owner, but there is currently already a full time therapist there. Plan to put in a manager with beauty salon experience and put back in profit and grow the business some more as we a believe it's been plodding along and the owner agrees there is more that could be done.
The owner is happy to assist hiring the manager, training the manager and being contact for a few months to answer any questions. Really see's at her baby being handed over and wants to see it carry on not just drop kick it.
The managers salary can be covered and over time if we successful at building it up and growing it some more my wife can leave her office job and move full time into the salon. Which will give her time to study and slowly take on the business.
I know there is the risk not having a background in this field being a big negative so if we can find a decent beauty salon manager with industry experience we hoping we can get it running smoothly after transition and look at making some positive changes.
Looking for all warning signs, pros and cons here and any positive and negative advice offered. Things to watch out for or avoid. Do we go in cautious after weighing it up or run for the hills?
Appreciate you reading this far. :biggrin:
Regards, Charles
This is my first post. Hopefully not my last though..
Been browsing around here recently and there seems to be a really good crowd with great industry knowledge.
Reason I'm posting now is for some pro/cons of buying a beauty salon. My wife and I are looking at buying one our area not too far away. The owner is selling due to health reason and we have both been there ourselves as clients and really like the place, the service and the brand itself.
I expect some clients to leave as they loyal to their therapist the owner, but there is currently already a full time therapist there. Plan to put in a manager with beauty salon experience and put back in profit and grow the business some more as we a believe it's been plodding along and the owner agrees there is more that could be done.
The owner is happy to assist hiring the manager, training the manager and being contact for a few months to answer any questions. Really see's at her baby being handed over and wants to see it carry on not just drop kick it.
The managers salary can be covered and over time if we successful at building it up and growing it some more my wife can leave her office job and move full time into the salon. Which will give her time to study and slowly take on the business.
I know there is the risk not having a background in this field being a big negative so if we can find a decent beauty salon manager with industry experience we hoping we can get it running smoothly after transition and look at making some positive changes.
Looking for all warning signs, pros and cons here and any positive and negative advice offered. Things to watch out for or avoid. Do we go in cautious after weighing it up or run for the hills?
Appreciate you reading this far. :biggrin:
Regards, Charles