Thinking of starting a salon

[Jaksnip]

OK; I am only starting in my hairdressing career, but I have come into it very late! {I am 30, completed level 2, working mobile, doing level 3 starts next week!!!} Trouble is, I NEED into a salon, to gain more experience, and guidance, etc... Trouble with that is that, at 30, NO salons want me. I have tried, very exhaustively, but they just don't seem to even consider me once they hear my age.

SO... I'm thinking of opening my own salon. I have found a VERY good unit, it is on a main road, loads of footfall, and private parking. Its beside a supermarket, a greengrocers, and a café. Its a very very good price {750PCM- similar units are going for closer to 1000kpcm} My father is a painter and decorater/joiner who specialised in shopfits. SO regarding the fitting out, I know he can do that on a shoestring, but, to a high standard. My partner is a banker, and very good with the numbers.

Id look to create two little beauty rooms, and rent them to a beautician.. And either hire or rent to another hairdresser, whom I can work with/learn from... {obv this is something that would be agreed and compensated for in the employment terms.}

As Tjo {sorry if that's wrong} mentioned in a previous post, I have no mortgage, no assets, and nothing really to lose. I am a grafter, and a sensible, clear thinking person. I think im business minded. and I think I could give it a good go!!!!

AM I MAD????

 

[Sassy2013]

No not mad at all! I am very envious of you, I'd love to start my own place - but I have a child and a mortgage. But I'm so fed up of working my back side off to line somebody else's pocket!

Best of luck in your venture! Keep us up to date on here!!

 

[BannerPenguin]

Without being rude yes you are mad!
BUT mad is not a bad thing. Some of the best businesses are created from mad moments.

If you seriously have nothing to lose and you have nothing to support financially apart from the shop you will be having then potentially go for it.

Just be prepared as it may take a long time to start turning a profit especially as you wouldn't believe how hard it is to make rent until you have to try and do it. Can you pay the rent if you have no clients for a few months? How long can you pay it for? How many clients will you have to do on average to make £750.00 PCM in profit?

I would also say the licenses etc required for the premises and all the bits and bobs (even just covering cost of material or part cost and no labour) you will still need a good few thousand in my book to get rolling. Signage, printing etc.

In this instance I would perhaps recommend registering a Ltd. company and doing everything, most importantly the shop, in the company name so if all goes pete tong your personal credit shouldn't be affected.