Would You? Your opinions, please

[tinksandfloris]

Hi,

I'm mobile / work from home and I have a comfy little client base.

I've always wanted a shop and the shop of my dreams has cropped up.

I would like other geeks advice really. The shop is currently owned by another therapist. The shop is up for sale and she also wishes to rent it out.

She'd be interested in renting it out and then working on a room rental basis.

Am I looking at opening a complete can of worms?

 

[tinksandfloris]

Sorry, I mean she'd like to rent it out and then rent a room back off the person renting it. Open to all sorts of issues or not?

 

[LucyLashes]

Is it in your immediate area? Would you work full time? How big is your current client base? Would you still do mobile? Are your current clients evening or daytime?

 

[jujojones]

I would be wary that the owner wants to rent space , I just can't imagine it being very easy to make it your own without a battle of wills ! Why, if she wants to stay in the same place does she want to sell?

I would take the place but decline get offer of renting a space to her! I just can't see that working x

 

[jujojones]

Just to confirm..... She wants to sell shop to you ... Then rent a space off you? Have I got that correct. X

 

[tinksandfloris]

She wants to rent the shop out and either work from home with the clients she has left or rent it out to another therapist and also rent a room back from them.

It is an absolutely amazing salon but it's shut most of the time now. I have my own client base. It's not massive but my name is getting quite well known in the area now and I'm not frightened of building up a business. I've done it before.

 

[Miss Pink23]

Im still confused, as you say she wants to sell, then she wants to rent it. Are you saying she wants to sell it and then rent a room?

 

[tinksandfloris]

It's up for sale as a building and she also wants to rent it out. Whichever comes first. If it is sold with a business in situ then it would be up to the new owner as to whether or not the business in situ would remain there.

Does that make sense? I am not in a position to purchase the building but I could rent it.

 

[chazac]

i dont think her renting out the room from you would be very fair or practical she would still be doing all her exsisting clients could potentially take a few of yours as well, so you would have the headache of all the salon bills and she can carry on as normal doing all her clients, i would rent the place out for yourself and decline her offer letting her rent out space xx

 

[Miss Pink23]

I am assuming you will potentially both me offering the same treatments?
If so and you want to go ahead with this, I would also rent it for yourself and maybe rent the other rooms /spaces to therapists offering alternative treatments to yourself. I would then decline her offer on the grounds of conflict of interests.

 

[lisa82]

I'd be wary of why she doesn't just rent a room out, as opposed to getting someone else to take the lease, then renting of them

 

[Layrex9]

In my opinion, if you are looking at opening your own salon the key three initial elements to contend with are:

1. Location
2. Location
3. Location

The shop you are looking at may tick the above boxes but from a business point of view the next two questions on this salon you have to try to answer are:

1. Why has she not made a go of it in her own right and why is she now in the position of trying to find someone to rent it off her?

2. Has she not made a go of it in her own right and now feels that being responsible for a smaller proportion of the surface area of the business unit will now make it pay for her clientele base?

In light of this I would err with caution. I would look at other available retail unit options in the same area in which you wish to trade and try to find one that will be of good location, as this will serve you well in the mid to long term.

Do not take the above paragraph as complete negativity as the salon you are looking at may be located well. She could be be under-performing due to limited treatments, under-marketing, limited hours of trading or it could be something personal such as illness, pregnancy or forthcoming marriage etc.. which has spurred her onto looking for a tenant. You really need to try to assess the situation from all possible angles.

 

[shedunlop]

What happens if she rents to you then later on decides either to sell the place after all or worse still stop renting to you. Some of your clients would want the location by that point and may stay with her. Not necessarily your existing clients but new clients.

It sounds to me as if she is struggling and wants someone to take the burden off. She might or might not have it in her head that once business picks up again she will just take the salon back! :wink2: