Part Three: Shopping For The Suite Salon Studio Space.
In part one – you composed a business plan, push your way through finances, and – finally! – It’s shopping time for the suite spot for your salon studio. The one significant operating expense is renting space.
We will share the following tips to go into the process with affordability transparency.
Salon Suite Budget
A rule of thumb: is the allocation of gross monthly sales to the lease payment. A 3 to 10 percent should be sufficient. Unlike a sizeable retail salon where they pay two types of rents, one being the square footage base rent, then second is operating cost, usually maintenance and parking lot repair. The bigger your salon space, the more operating cost. When you choose a salon suite lease option and partner with Salon and Spa Galleria, you will not have any of the operational cost rent with building maintenance and parking lot repair. Not with a lease for salon suite, all these costs are picked up by Salon and Spa Galleria. Did we mention that we are a leader in the salon suite rental business? With one of our salon suite leases, you get a list of amenities included:
- Free Wifi
- 24/7 access
- Large parking lot
- 24 Security Camera
- Washer & Dryer on site
Location, Location, and Location
How to pick or in which neighborhood do I select? Here are a few thoughts to take into consideration. The salons set up – think easy – to – spot. Method thoughts should be along the lines who do you want to serve? Do you want high-end customers? Then the location would be a swanky neighborhood or shopping center. Critical is the visibility and signage for the site. Clients being able to locate at a glance while driving would be an advantage. And visibility is a significant factor for walk-ins. The other path of thought is in transportation. The set-up transportation method based on what specific market you choose, making it ideal for the clients. If your target is young urban professionals, think areas with public transportation that are bike and pedestrian-friendly. Salon and Spa Galleria, with great strategy, have placed their 9 locations in demographics that would support any type of clientele you may choose. Salon suite rental Fort Worth, Bedford, Grapevine, mid-cities, and 2 locations in Arlington are available for the choosing. Demographic research completed by our development and planning team. The two facts you might want to be on top of the numbers are population density and income levels. Think along the lines of 7,000 – 8,000 people per mile radius and something like 70,000 residents per three-mile radius.
Note: you will want to stay on top of the local business development: too much direct competition is unfavorable. You will want to provide a relatively unique need locally.
Suite Rental Money Savings
Think design – yes, this is an additional cost for construction on a large retail salon, not so for a salon suite rental. Salon and Spa Galleria provides decorated décor of each 9 locations. Think about the fact you don’t have to come up with the money for interior design, artwork, and furniture.
Salon and Spa Galleria is a leader in the DFW area salon suites rental industry. Contact us for more information about an exciting opportunity to own your salon studio. We enjoy it when we can help beauty professionals find business independence.
For a salon manager or leasing agent, call 817-917-1416 or 817-823-7105.
Contact the concierge at 972-691-7300 for tour bookings.