Without a doubt, salon space leasing is a great opportunity. It has led to many a success story for talented hair stylists, nail specialist, massage therapists, and microblading artists. But it is not for everyone! That is why we have put together a check list of the attributes we believe help lead to success in leasing a salon booth. We invite you to read on and then call us if you have any questions.
Salon booth rentals call for independent go-getters
Is that you? Are you self-motivated? Can you function without a boss telling you what to do? Can you motivate yourself when times are slow? Being in business means you are the marketing expert, you are the retail expert, and you are the salesperson. Can you wear all of those hats and succeed? Not everyone can, and it’s fine if you can’t . . . but you need to be honest with this answer.
Do you have a loyal customer base?
It’s going to be a tough go of it if you do not start out with a loyal customer base. Even though it is quite inexpensive leasing a salon suite, and even though the overhead is quite low, you still have personal bills to pay, and you can’t pay them without customers. Make sure of this one. You do not want to start out in this business venture without customers who will follow you from the beauty salon you currently work at to your own salon booth lease.
Are you good with accounting and tax preparations?
Like we said earlier, you must wear many hats as an independent stylist. One of those hats is that of an accountant. Keep great records for tax time. Set money aside for taxes. There is no quicker path to trouble than shorting the government what it is due.
Do you handle stress well?
True, leasing your own salon booth is a great opportunity, and true, with a business plan like ours at Salon and Spa Galleria, the risk is minimized, but there is still stress. No one goes into business for themselves without feeling stress. There will be days when you will question your sanity. There will be days of downright fear that you won’t succeed. You need to soldier through. Are you the type of person who can soldier through the hard times?
Do you have a financial safety net?
Let’s assume the worst, that business is slow for your first couple months. Do you have the financial savings to live off of until business picks up? Never, and we will repeat never, go into business without a safety net. You must have some money to cushion the transformation until business picks up.
Go over this list carefully. Be honest with your answers. And best wishes for your future, no matter what you decide.
For a leasing agent at Salon & Spa Galleria, call 817-917-1416 or 817-823-7105. To reach our concierges call 972-691-7300.
Our family of independent operators have their own numbers, so please contact them directly. Call soon to find out more about our move-in specials and to become part of the Salon and Spa Galleria Family.