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kd hair

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I'm off to see a salon for sale on Monday and I really want to be prepared with questions to ask instead of been ditsy and just thinking it looks pretty!!! obviously I need to know about rates and turnover and profit. There's a million questions in my head so can anyone help with what key things to ask please thank you in advance :) x
 

Scissorz

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Hi I'm not a salon owner but I've been to view properties in the past, you need to ask about how much the deposit is, an rent, how often it's payable, business rates are these included in the rent (most new business get 12 months free if the rateable value is under the threashold you can find this out by calling the rates office) also ask about utilities who is responsible to pay these, is there a rent free period , how long is the minimum lease an is there a get out clause, most landlords will only do one or the other. Also who is responsible for repairs and maintenance and do they have buildings insurance. Hope this helps and good luck :)
 

kd hair

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Thank you for that also on the details the sent me it say price £**,*** plus SAT what is sat?
 

PixieBeauty

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Sounds simple but write down every question before you go as you will definitely forget when you get swept up in the aesthetics/ feel of the place - especially if you really like it!!
 

kd hair

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Yeah that's my problem I know I'm guna get swept away by it and just totally forget that ur actually has to make money to work and that I need to now the actually ins and out, thanks
 

Charlee-c

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Remember to go in confident not only will you be asking questions but they will too,don't feel pressured to make a decision there and then in your mind

Xx
 

Chrysalis

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Hi I had a salon for 3+ years and things you need to know is whether the landlord will do repairs to the building, damp proofing, wiring certificate that would pass health and safety when you have clients. Is it wheelchair accessible as by law most premises have to be. Also how long is the lease, is there a get out clause cos if you decide to close you may still be responsible for the rent till the end of the lease. Always have a solicitor check over your lease it costs but well worth it.

I would also be interested in how much footfall passes the salon are you likely to pick up much business? Are there easy transport links, buses, metro, free parking this really matters to clients. Is there competition nearby that may affect your business, a few tips to help you on your way good luck.
 

kd hair

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I've sat outside afew times and it's got a pretty busy footfall and there parking right outside for afew cars plus it's got a bus stop outside the shop next door but one to the salon :) I no the lease it's a 5 year lease.
 

Beansy

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You asked what SAT means, I'm guessing this is stock at transfer, although I've only ever seen this as SAV (stock at valuation).

I would also ask for a breakdown of sales- where is the primary income? What are the retail sales like? What are the suppliers contracts like (ie can they be transferred over to you).
I would suggest asking them where they see the potential in the business. Also, why are they selling?
You might also want to check whether there's a website, whether this is included and what costs are attached.

Hope it goes well
 

Peachy

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If you are viewing it as a ongoing business does it include staff? If so you definitly need an idea of wages, commisions etc. Why is the owner selling, you would have to check they aren't selling to just open up again 5 mins away. Check if they have a database of clients details which is included in the sale which you can then use for ongoing marketing. Get a copy of the price list, just to check their prices are competitive and that if you were to buy the business you could turn a profit without having to implement huge price increases.

Also if buying an ongoing business check if it's vat registered.

Good luck - exciting times looking for a salon!!
 

kd hair

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Been to see the salon n definatly not buying it. Think she would need to pay someone to have it to be fair thanks for all your advice tho. I'm just going to put it down to experience and carry on looking x
 

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