views on renting fully furnished salon

[pink_rose]

Hi everyone
I have been looking to own my own place and was going to do it all up myself.
But having found a salon yesterday which is fully furnished and ready to use. All i need to do is find the staff. I would have to pay £300 a week tho. everything included. At the min they offer hairdressing, nails, spray tan. What you think to the price of the rent?
It is a bit out the way of town and doesnt have any parking. I only rang up yesterday just to find out the basics so dont know much more.

Any info or comments will help
Thank you

 

[hippy-chick]

So, what are you getting for your £300?

How many rooms have you got, how much potential have you got to make money.

remember utility bills, council tax, rates, etc.

I know a group of people I worked with decided to move to the city, the rent was reasonable, very much what we were already paying in a small pit village, BUT the rates were the same amount again so would be paying double.

 

[pink_rose]

The £300 includes all the equipment, utility bills and council tax. The business has been running for over 20 years and moved about 8 months ago. Not sure that the client base is like as i have not see the books.
At the min they have 1 hairdresser, 1 nail tech and 1 beauty therapist.
But inside there is 3 hair dressing stations and 2 nail tech bars. along with standing sun bed, aqua med massage bed, pedicure chair, automatic spray tan, nail printing machine.
Really need to find out more but i didnt know if the rent was a bit much a week as i have never come across a fully furnished salon before

 

[hippy-chick]

well I would say that is a good deal personally.

Have you calculated how many treatments per week you would need to do to break even.
You have products and wages to pay obviously on top of this.

 

[therapies]

That sounds pretty good to include all bills. However, can you afford it out of your own money incase you only get two clients through the door now and again? And would you want all the responsibility? consider what the market is for the area and see if the salon owner is cutting her losses before a bad spell, however, with it being established 20years it already sounds a good business (if books prove it). Some salons charge 25 a day to rent a chair+ that includes all bills so if you get the whole lot for 300 then that sounds a good deal, the only thing to remember is the bad weeks, you may only get a few eyebrow tints here and there or manicure etc, its not going to cover your basic outgoing fees. Theres also new marketing for your take over, telephone, insurance, stock on top of the 300 fee etc. Shame someone cant go in with you and share it?

 

[pink_rose]

Thank you therapies for the good comments and advice.
I have got a meeting on Sat with him. He just doing it this way cos the mrs has left.
He said he would pay the insurance himself. Think that is cos it is his equipment. Comes with all the stock to. So i would only need to top it up when needed. I drove past 3 time today and there was always clients in there. But the woman leaves next week so needs taking over from then and will have not hairdresser or nail tech.
Is a shame i dont have anyone to do it with but think i would rather do it on my own.

 

[Rosey]

Find out how much the salon is taking at the moment. Also is there current nail tech and hairdresser leaving? If so they may take a lot of business with them and you could be starting with a very small client base and a £300 rental still be to paid each week.

Depending on lots of factors, it could be a really good opportunity at running your own business without the huge initial outlay for equipment etc.

Also what happens with decorating and maintenance etc? Also if you build up a booming business and he wants it back - what happens then?

Think carefully and write down everything you need to know before you go, and get answers to everything before thinking it over.

Check out the area and competition too.

Lots to think about and it sounds like only a few days to decide!! Good luck x

 

[pink_rose]

hi rosry
That is very good advice. The hair dresser has already left. So i dont think they have been doing hair the last 3 weeks. The nail tech is his mrs so dont know if she will set up somewhere else and take the clients with her.

Think i will be busy tomorrow writing a list of questions. lol
Wont have to do any decorating as it has only just been done up in the last 8 mnths. Not sure on the maintenance tho.