Finding location for salon

[jamiereid92]

Hi all,

I'm looking to start up my own salon and feel I have saved a lot of money... However it doesn't seem like it's enough.

After doing research online many websites say it's cheaper and easier to buy an existing salon.

However looking on business websites the salons are so expensive to buy... and you don' get much for that, just ownership of the salon, you still have to pay x amount for the rent, bills and staff.

How does anyone manage to start!

Looking for some advice and some hope!

Thanks in advance x

 

[Tanning_Beauty]

You don’t just get ownership of a salon. You get a business that has been built up over years hopefully by the seller. You buy her clients and the good will of her business. Which ever road you go down you still have to pay staff etc ? People manage to start with guts and hard work. Good luck !

 

[jamiereid92]

I'm not afraid of the hard work it's just the finance! How much money do you really need to start up?

 

[Tanning_Beauty]

It’s hard to say as there always seems to be another bill ! Have you ever rented s room or a chair ? It’s a brilliant stepping stone to having own place. Remember another good thing about buying an established business is the fixtures and fittings are normally included.

 

[jamiereid92]

No but I have worked on soley commisson based pay before.

I'm going to speak to some of my old bosses for some tips and have a meeting with the small business manager in the bank.

I've nearly finished my business plan it's just the unknown expenses of utilities and rent that scare me. If i had an exact number I had to pay a month they I would know how much I need to make a profit but is that possible before you start to run a salon?

 

[RED STAR]

If you take over an existing salon, that looks good...needs little work...but was owned by a numpty......then you have a good chance you could turn it around.
If however, you take on a high rent, need to refit....and have to start your client base from zero, then you need a sh*t load of money.....and then more some!

I've previously purchased an existing salon, that we managed to get away with spending just a few thousand on.....I bought my own client's, and we 'ticked over'....
Bear in mind, I already had a client base, was fortunate enough NOT to have a landlord, and had the luxury of an income from a large flat above.
I still did not coin it in!

Fast forward 5 years.
I have now relocated.....complete refit, a smaller premises....sh*t loads of money - as well the purchase price, another £60,000 was needed to fit out.

My advise would be, make sure you pitch yourself to the 'High end' market.
Do not take on too high a rent.
Do not part with loads of money for the previous owners good will/ client list.....
In this industry, unless the previous owner dies, or emigrates....they will take their clients with them...leaving you with tumble weed.

Good staff are like gold dust...they all want to work for themselves from a log cabin.....
Self employed might seem like a good idea, but seeing as the daily rate is just the cost of one CBD.... ,
well I'd rather just do that bit extra myself thank you!!!
They could end up taking 'their' clients with them, leaving you with nought!

Finally, although a cautionary tale.....I still believe the cream will rise to the top....and as long as you take care, and don't let yourself get too carried away..........
I love to hear of real passion and talent breaking through the dross.

I wish you well........

 

[jamiereid92]

Thanks for all the info red star, I'll take it all on board.

That's what I was worried about with the good will, if the owner takes the clientele what are you left with? Second hand fittings and fixtures.

£60k is never gonna be an option for me? Is that going to make things impossible?

 

[RED STAR]

Thanks for all the info red star, I'll take it all on board.

That's what I was worried about with the good will, if the owner takes the clientele what are you left with? Second hand fittings and fixtures.

£60k is never gonna be an option for me? Is that going to make things impossible?

It depends what you have to start with....., the condition of the premises as it stands now.

My previous shop had been trading as a salon for 50 years....Bless the owner, he had his last fit out in the 70's!
However, it was all in excellent condition, REM, so high quality, and what I did was go down the whole 'Retro' route!
I replaced the floor with a decent looking laminate....new water hearer, a new kitchen area....a quirky sofa and a bit of paint & paper.....probably spent around £5,000.

As it was a freehold I was buying, I didn't get involved in the whole 'buying a business', it was just the 'property' I bought.
You need to be careful with that whole 'goodwill' sh*t...
Those client's are free to go where ever they choose...and to be honest, you might be glad to start a fresh.

Can you imagine when I took over from the previous owner of 50 years.......his clients HATED me......
I would not do dry cuts...wet cuts....and OAP day's!
Eventually, you carve a new way.....but it can take time, which is why I stress NOT to over stretch yourself.
You need to cut your cloth accordingly.....Salvage what you can from what is left, and then with a bit of imagination and artistic flair, you'll be suprised what you can create from very little.
I personally would not go down the leasing route....that's an extra financial stress each month to add to your rent....
Check out items on ebay....you often see salons either closing down, or having a refit, selling off chairs, reception desks etc.....
Good Luck

 

[squidgernetball]

You just don’t know what’s out there. I took over the small end of a barn. We put some walls up. It cost me around £3,000 with decor. I wouldn’t buy a salon unless it’s a bargain. Sometimes the name is tarnished for poor service and it can be hard to lose that. Keep your eyes open for what’s out there but remember it doesn’t have to be town centre. People like free parking and easy access. It is infinitely doable just look outside the box.

Vic x

 

[OwnerOperator]

It depends what you have to start with....., the condition of the premises as it stands now.

My previous shop had been trading as a salon for 50 years....Bless the owner, he had his last fit out in the 70's!
However, it was all in excellent condition, REM, so high quality, and what I did was go down the whole 'Retro' route!
I replaced the floor with a decent looking laminate....new water hearer, a new kitchen area....a quirky sofa and a bit of paint & paper.....probably spent around £5,000.

As it was a freehold I was buying, I didn't get involved in the whole 'buying a business', it was just the 'property' I bought.
You need to be careful with that whole 'goodwill' sh*t...
Those client's are free to go where ever they choose...and to be honest, you might be glad to start a fresh.

Can you imagine when I took over from the previous owner of 50 years.......his clients HATED me......
I would not do dry cuts...wet cuts....and OAP day's! [emoji14]
Eventually, you carve a new way.....but it can take time, which is why I stress NOT to over stretch yourself.
You need to cut your cloth accordingly.....Salvage what you can from what is left, and then with a bit of imagination and artistic flair, you'll be suprised what you can create from very little.
I personally would not go down the leasing route....that's an extra financial stress each month to add to your rent....
Check out items on ebay....you often see salons either closing down, or having a refit, selling off chairs, reception desks etc.....
Good Luck

Great advice I did much the same as you [emoji1303]