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Meeting about rent tomorrow!

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sarahcutekitten

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I know this Question has been asked before but I feel the need to ask again:lol:. I have a business meeting tomorrow about rent with the two salon owners whom I will be renting my room. I used to work in the same salon eight years ago and paid a basic rent (can't remember how much). This time round I will be working in two week blocks untill I can get established, the reason being that I need to keep a steady income from my current job. I think that The owners will want me to pay a % and I really don't know what to do :irked:. I know this will help me a great deal to start with but what about when the money really starts coming in? I will be working my arse off and they will reap the rewards. What sort of % is reasonable if all I am paying for is a room with sink, all my own equipment and products or what would be a reasonable weekly rent?

Any advise would be urgently and greatly recieved

Sarah x
 

oey

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I know this Question has been asked before but I feel the need to ask again:lol:. I have a business meeting tomorrow about rent with the two salon owners whom I will be renting my room. I used to work in the same salon eight years ago and paid a basic rent (can't remember how much). This time round I will be working in two week blocks untill I can get established, the reason being that I need to keep a steady income from my current job. I think that The owners will want me to pay a % and I really don't know what to do :irked:. I know this will help me a great deal to start with but what about when the money really starts coming in? I will be working my arse off and they will reap the rewards. What sort of % is reasonable if all I am paying for is a room with sink, all my own equipment and products or what would be a reasonable weekly rent?

Any advise would be urgently and greatly recieved

Sarah x
Why not ask for a limit to be placed on the amount of income they take form you then? I pay £80 per week rent.
 

cups1974

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Put a time frame in the rental agreement when your % reaches a mark you beging pay so much! they do not need to know excact numbers as to what you are making you are rents from them not working for them. are they also booking your appointments? including reception waiting area you need to know what you are getting into. Is it a room only you have acess to? what are they expecting of you? Do you make the prices or do they?
 

sarahcutekitten

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This is solely my business-my prices, treatments etc. The reception is not manned but they will take my apps. Customers will have access to the waiting area and WC. One of my worries is agreeing to whatever rent they come up with, I'm worried I wont speak my mind.
 

hippy-chick

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well what do you think is a reasonable rent?

Oey pays £80, I pay £60.

I also have a room at another place and pay a percentage, I pay £6.25 per hour but only have to pay when clients are in/and show up.

The potential to make money is greater by paying a rent, but its a more of a gamble to begin with.

Remember your annual leave in this too, I've worked it out at £8 per week to cover the 6 weeks annual leave.
 

Katelisa

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jees, my rent is £150 a week!!!!

:(

i dislike percentage rates because if the fact your bustin ur guts and payng more rent for the privelege. but at the same time, you cant expect the owners to take a gamble to start with then switch the rules for your benefit. if that makes sense.

most businesses make a loss to start with, its the nature of the game. but then you will reap the rewrds yourself afterwards on flat rate. or capped percentage.
 

Miss Waterliy

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I pay 20% of my takings (obviously not including product sales)
or £80 per week so it is capped at £80 i never pay more only less when its a slack time!!!

You find as well that you'll get customers through the people you rent off (Friends and family) i tend to do then 15% off but dont pay rent on their treatments which works quite well!!! :green:
 
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sarahcutekitten

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Thank you all for your imput, I'm feeling very apprehensive at the moment.
Lets hope it goes well.

Sarah x
 

rouge

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Well whatever deal they come up with, I doubt you'll have to make an on-the-spot decision. Why don't you tell them you'd like to go away and think about it and let them know tomorrow? Unless of course it's such a blindingly good offer that you bite their hands off to take it! :)
 

andi

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I pay 15% and that includes room lighting, heating water etc. However I do make my own bookings so I alone know how busy or not I am.
Hope this helps and just take a deep breath when you go into the meeting and remember you are a professional!:hug:
 

sprinkles

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jees, my rent is £150 a week!!!!

:(

i dislike percentage rates because if the fact your bustin ur guts and payng more rent for the privelege. but at the same time, you cant expect the owners to take a gamble to start with then switch the rules for your benefit. if that makes sense.

most businesses make a loss to start with, its the nature of the game. but then you will reap the rewrds yourself afterwards on flat rate. or capped percentage.
Hi,
Does your rent include your equipment? Was the room ready for you to just walk in and start working or did you have do it up yourself??

I've spoken to a hair and beauty salon recently who have a room they are currently refurbishing and will be ready to work in soon (nail station provided), they are asking for £200 a week, so far people I've spoken to think this is too high. I currently work from home so I know nothing of salon rates/prices etc. It is a popular salon as far as I can tell and think it would be a good opportunuty for me but could do with some advice...can any of you help to point me in the right direction as to what I should be asking and finding out, what should I be expecting for £200? thanks geeks x
 

oey

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Hi,
Does your rent include your equipment? Was the room ready for you to just walk in and start working or did you have do it up yourself??

I've spoken to a hair and beauty salon recently who have a room they are currently refurbishing and will be ready to work in soon (nail station provided), they are asking for £200 a week, so far people I've spoken to think this is too high. I currently work from home so I know nothing of salon rates/prices etc. It is a popular salon as far as I can tell and think it would be a good opportunuty for me but could do with some advice...can any of you help to point me in the right direction as to what I should be asking and finding out, what should I be expecting for £200? thanks geeks x
Well - in my opinion you would also expect the crown jewels for that much!

If you think how many treatments you will need to do before you have even covered your rent. Does it include any products, I also presume you will be building the client base from scratch so I wouldnt expect to pay half of that amount.
 

sprinkles

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hi theresa,

the salon owner says they turn away quite a lot of enhancement work because the beauticians who are already there can't fit it in, they are going to keep a record of customers they turn away for the next 2 weeks so I can see. Bookings will be taken for me by other members of staff (one phone no for hairdressers and beauty) and the room is ready to work in, I didn't ask about products tho, I assumed I would be providing them.
I know different areas have different rates but what do you consider would be a fair price?
There is also the option of bringing someone else in with me so the rent is halved, don't know how big the room is yet tho, I will see it in 2 weeks, she said it could be someone doing beauty so I assume it's big enough that we won't be under each others feet and offers some privacy from each other.. I know it will become clearer once I see the room and what work is being turned away but any advice before I speak to her again is much appreciated. x:hug:
 

sprinkles

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Just giving this a bump up. Any advice geeks? x
 

hippy-chick

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I wouldn't work there for £200 rent, thats way to high.

Katelisa pays £150pw.

What treatments are you offering and how much are you charging?

I have great potential to make money, but if its quiet (which it has been since I started 3 months ago) I am just covering the rent. Last week I 'earned' £6, but spent £40 on gift vouchers, biz cards and special offer cards, so really didn't earn anything, so didn't have any money in my bank.

How many weeks can you afford to be there if you have to pay that out without any clients coming in? What happens when you take holidays?

I've worked out that I have to add £8 a week onto my rent to cover 6 weeks annual leave.
 

Kim Lawless

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I'm worried I wont speak my mind.
Ah! If that's your worry, tell them that you'll have a chat with your husband/mum/dog and let them know the next day. Then come on here and tell all of us.........and between us, we'll tell you what to do. SORTED !!!!! xx
 

Katelisa

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how much will you be charging for a full set and infill. Bearing in mind it will be your regula infill clients that will make up your 'bread and butter' money.

How many hours a week will you be working?

say an infill is £20, thats ten clients just to cover rent, which could be anything from 10 hours if you take 60 min, to say 15 hours if you take 90 mins.

if an infill is £25, thats 8 clients to cover rent, which is still minimum of around 8 hours, which is a whole day. and who's to say you will fill every 8 hour day?! :eek:

I think when your starting out, you will be lucky for the first month at least, if you get 8 clients per week, someone please correct me if im wrong. But it will take some serious advertising and promotion to get you even half full. Unless the clients are there and waiting. Showing interest and having them booked in are diff things!!
 

sarahcutekitten

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Hi all and thank you for your previous advice.

This matter has been left unsolved since our last meeting and the rent wasn't really finalised. The shop owners didn't want to commit to suggesting a £££ and I didn't want to suggest a £££ in case it was to much. :irked:

Anyway I spoke to them this week and I asked about a 15% 85% split. I will only be able to work at the shop a minimum of 2 1/2 weeks (hopefully more) as I am still working my current cabin crew job. They came back and said 25% plus VAT as the beauty room will be empty for 1 1/2 weeks.

My Question is this - Is it worth trying to negotiate to 20% 80%? Also I want it to be capped off when my takings reach a certain figure. After all we are all in it to try and make a living right?

Any advise would be much appreciated :)

Sarah x
 

Katelisa

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well i used to bay 50% so anything less than that for me would be a bonus! lol.
 

sarahcutekitten

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I will be fitting out the room myself, all my own furniture and products. Surely 50% is not an option for me? I'm worried now :irked:
 

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