Hey everyone..
I bought a salon in March using money I had made from my other (successful) business... the reason for buying was to help my little sister.. her job was making her depressed and anxious & I knew how much she wanted to run a salon of her own. I've never been in the beauty business myself & never owned a salon before.
My sister is qualified in most beauty except nails, we employed her as a therapist & the salon manager... my neighbour was a self employed nail tech & asked if she could rent a space, perfect I thought, so we bought the salon.
We estimated around £3000 would need to be spent on doing up the salon... it actually ended up costing £9000 as problem after problem kept arising (my fault for not looking into things properly maybe..) my nail tech then dropped out a week before our launch day & I panicked! My close friend messaged me to say she would love to work at our salon but she couldn't afford to rent the space & would want to be employed.. stupidly & out of desperation I employed them both rather than getting them to rent spaces.
Now I am in a pickle as we are losing so much money, the girls aren't in need of clients coming as they get paid either way so lots of the time they are sat about chatting & I can't be at the salon all hours as I'm so busy with my other businesses... the salon isn't busy enough to pay two wages out, we aren't even covering the rent (when I bought it there was just one lady working there & she was the owner but was only doing sunbeds & nails so I assumed by offering more services we would make more money.)
My sister is currently training up to do nails... I'm now not sure what to do with my nail tech friend.. I feel terrible letting her go.. maybe I should tell her she can rent the space instead? If I did this how much would you charge a nail tech to rent a space per day?
Sorry for the essay I just feel as if I'm drowning & feeling very naive at the moment!
I bought a salon in March using money I had made from my other (successful) business... the reason for buying was to help my little sister.. her job was making her depressed and anxious & I knew how much she wanted to run a salon of her own. I've never been in the beauty business myself & never owned a salon before.
My sister is qualified in most beauty except nails, we employed her as a therapist & the salon manager... my neighbour was a self employed nail tech & asked if she could rent a space, perfect I thought, so we bought the salon.
We estimated around £3000 would need to be spent on doing up the salon... it actually ended up costing £9000 as problem after problem kept arising (my fault for not looking into things properly maybe..) my nail tech then dropped out a week before our launch day & I panicked! My close friend messaged me to say she would love to work at our salon but she couldn't afford to rent the space & would want to be employed.. stupidly & out of desperation I employed them both rather than getting them to rent spaces.
Now I am in a pickle as we are losing so much money, the girls aren't in need of clients coming as they get paid either way so lots of the time they are sat about chatting & I can't be at the salon all hours as I'm so busy with my other businesses... the salon isn't busy enough to pay two wages out, we aren't even covering the rent (when I bought it there was just one lady working there & she was the owner but was only doing sunbeds & nails so I assumed by offering more services we would make more money.)
My sister is currently training up to do nails... I'm now not sure what to do with my nail tech friend.. I feel terrible letting her go.. maybe I should tell her she can rent the space instead? If I did this how much would you charge a nail tech to rent a space per day?
Sorry for the essay I just feel as if I'm drowning & feeling very naive at the moment!