This might seem like a strange article to be written by a beauty salon suite rental agency, but we believe it is an important message for all considering this business model. We are Salon & Spa Galleria, serving the Greater Fort Worth area with twenty-two salon suite rental locations. Call us at 817-917-1416 for more information but read this article first.
What is a beauty salon suite?
Let’s define a beauty salon suite so we are all on the same page of understanding. A salon suite rental is nothing more than a retail location rental. Most businesses lease their retail location, but traditionally they have leased an entire building. With a beauty salon suite, the owner of the business is only renting a single suite rather than a building. It is still 100% ownership in a business, just smaller than a traditional beauty salon, hair salon, or nail salon suite.
The advantages of a beauty salon suite are obvious and many.
You do not need a Business degree to immediately see the advantages of this business model. Instead of paying over $1000 in monthly lease payments, you are paying considerably less; in our case, at Salon & Spa Galleria, salon suites begin at $75 per week.
In addition, the overhead expenses are lower, you do not need to deal with employees and all of the bookwork that entails, and your insurance is considerably less. Add it all up and you are looking at much less risk, and a greater chance of success, by going small using this business model.
However, this is what many don’t talk about.
We would be remiss if we did not talk about the negatives. We have, unfortunately, seen people fail in a salon suite rental, and it is almost always for a few reasons they never anticipated.
There are some people, and this is not meant as a negative, who are simply more comfortable being an employee rather than a business owner. There is a certain amount of stress in owning a business. There are no guarantees, and there is very little in the way of a safety net when you are making the decisions and those decisions directly affect your profits.
There are some people who are not self-starters. There are some people who are not good at bookwork, at budgets, and at taxes.
These are not meant as negatives. We can’t all be good at all things. We are all wired differently, and that simply means that some people are not cut out to be business owners. And that is fine, but it also means it is important to have a very frank discussion, with yourself, regarding your own personality. Asking the difficult question now, before you sign a lease, will save you a great amount of angst and heartache later on.
A final word about Salon & Spa Galleria.
What we can tell you about Salon & Spa Galleria is this: if you are a talented beautician, and you do have the right personality make-up, there is no better rental package than the one offered in our twenty-two locations. Call us today, ask to speak to a leasing agent, and arrange for a tour. That one phone call has the potential to positively change your life.