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Can You Afford to Rent a Salon Suite?

By July 7, 2020Salon Spa Blog
How to decide if you can afford to rent a salon suite

Without asking you to share personal finance information, this question still needs to be answered before you rent a salon suite: can you afford to do so? Hopefully by the time you have finished reading this article, you will have a clearer view of the reality you are considering.  It’s always good to have 20/20 eyesight when looking into the future,  and good information always helps with that eyesight.

We are Salon & Spa Galleria, with nine salon suite rental locations in the Greater Fort Worth area.  We are not trying to sell you a darned thing in this article. We are simply trying to steer you in the right direction so you can make an informed decision. Call us at (817) 823-7105 if you have questions.

What does a salon booth cost?

It depends!

How’s that for a definitive answer?  No, seriously, it depends on the size and location of the booth rental salon.  At Salon and Spa Galleria, you can rent a salon studio for between $50-$400 per week, depending on size and location.  It is that way at most booth rental companies.  It depends on what you want and where you want it.

But that is just the booth rental price. There are incidentals to consider as well, incidentals like insurance, business cards, supplies, product to sell, a business license, perhaps computer software, laundry services, internet, booth furniture, and on and on and on.  At Salon & Spa Galleria, we include furniture, utilities, a concierge, laundry services, a website, a television, and other incidentals in the price of the booth, but that is not industry standard.  You need to shop around to find the best package for your situation.

We will say this: it is possible, at Salon & Spa Galleria, for a talented beautician to start a business for as little as $500.

A personal consideration

Now let’s get personal.

Are you the type of person who can succeed as an independent business owner?  Are you a self-starter?  Do you become easily discouraged?  Are you a good money manager?  Some people are not. Some people, quite frankly, are better off working in a beauty salon owned by some else. The responsibilities are minimal and that type of situation just matches their personality better, and that is fine, but you must be honest with yourself before you consider renting a salon booth.  You really can’t afford to answer incorrectly and fail.

Our suggestion/recommendation

Expect your start-up costs to be in the $1000-$2000 neighborhood, just to play it safe.  If they are lower, fantastic, but at least you have a margin for error built in.  If you can afford that start-up costs, then consider how many customers you will need to take care of weekly to afford the suite rental cost, and then consider how many customers you will need to pay for your living expenses.

Do you have that many regular customers?  If not, can you get them?  What do you need to succeed, two-thousand bucks per week? More? Less? What does that translate into regarding the number of clients per week?  These are the hard-hitting questions you need to answer, and we wish you well in answering them.  If we can be of assistance, do not hesitate to call us at Salon and Spa Galleria.

For a leasing agent, call 817-917-1416 or 817-823-7105.

To reach our concierges call 972-691-7300.

Our family of independent operators all 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.