Hi Nicky
Well 300pcm is a great deal so definitely consider it!
First off check is whether your local Council will need you to obtain planning consent to use the shop for your businesses. Different Councils have different rules so some are fine and others want you to obtain planning approval. If you need licensing or planning consent for your activities you will need to speak to the landlord and gain their consent to apply as it affects them also.
You should also look up the rateable value which you can do on the government website using the postcode. If the rateable valid is £12k per year or below you pay nothing (I expect it will be nothing as the rent is so modest)
You will need to get a solicitor to look at the lease because there are a few pitfalls. Get a quote in advance for the advice, don’t pay “on the clock”. And you’ll need advice from an accountant about how to structure your business so you can avoid charging VAT on your services. Go to an accountant experienced with beauty businesses. Some accountants are a bit clueless and don’t suggest the best set ups.
You’ll need proper “shop” insurance as a beauty salon plus your beauty insurance for the services you offer. You may get a combined policy but two separate ones might work out cheaper. You might be better off going to one commercial insurance broker for advice and let them shop around and just get a beauty services only quote through your professional body to compare and Balens (if they cover all your activities). You don’t shop around for commercial insurance in the same way as you do car insurance. It’s like going to an accountant or a bank, you just choose one to look after you. It’s a bit early days to enquire about costs. Best to approach a couple of nearby businesses and ask who they use and what they pay as that will give you a guide. A commercial broker can also offer a range of other services including helping you to think about the “risks” of going into business and whether you want to take out other insurances or just put some money aside for emergencies.
You need to find out if there are Council regulations about signage on your shop and advertising boards and so on. Councils often offer business advice for new businesses through a partner at free or subsidised cost. You can often get sone workshops on website set up, social media etc.
Allow lots more than you think for painting, decorating and fitting out and maybe use some second hand fittings rather than buying new.
If you get as far as negotiating for the lease check when the electrics were last inspected as you need a certificate and reinspection every 5 years at least. The regs often change requiring you to upgrade and that can be pricey. You should also know the EPC (energy performance certificate) of the premises. Check about asbestos and what happens when you hand the premises back before you sign the lease and ask your solicitor to explain the implications.
Other regulations - you need a fire certificate showing that you’ve thought about how to handle an emergency evacuation, have the correct number of fire extinguishers and emergency lighting - there are companies that come out and do the necessary for you.
And finally electricity is much more expensive for commercial users. At least 60p per KW, so you’ll need to shop around for an energy deal and think about ways to say warm and brightly lit without going bust!
Best of luck, keep us posted
