Starting salon, need advice!!

[rdnckangel55]

i would LOVE any advice that you business owners could throw my way! Im looking to start a salon in florida, 7 stylist stations a nail tech, a boutique and a facial room. My start up cost are going to be $40,000. i have no idea where to start! i have managed my bosses salon while she was on bed rest for 6 months, but i dont know what licensing i need to start or any of that! i also dont know if i should incorporate S or C? S seems to be more profitable, less taxes, but I dont know if its better in the long run. any info would be AWESOME!!

 

[Laterjim]

I am in the same boat as you, but in Ohio. I am an accountant, so I can suggest to you that you speak with your accountant about what entity type you should use (S or C). You will definitely want an accountant's help in setting up your business anyways, as they can help you to get the best tax deductions and can also offer other business advice.

S Corp may be the best method, but depending on which way the election goes, anything could happen to change the costs/benefits of S election. I think you will be able to find a lot about S vs C if you type it into a google search.

 

[skymark]

Hi there

Whee abouts in Florida are you looking to set up?

It's just that the area you are in will have a great impact on the way you go about setting up and launching.

:hug: