You may have heard about this “salon booth for rent” movement sweeping through the beauty industry, but to this point you don’t know much about it. This article aims to fill in any gaps you have in your knowledge about a professional salon suite for rent, and hopefully it will also give you insights on how you can maximize your profits with a salon booth for rent.
Now, though, let’s talk about making money with a salon booth for rent.
What is a salon booth for rent?
Simply stated, instead of opening a beauty salon business in a retail location, you only lease a salon booth in a location owned by a rental company. This allows you to own a business, make all business decision and, most importantly, keep 100% of any profits you make. This differs from the old days where talented professionals worked in a beauty salon owned by someone else and oftentimes worked for commissions.
Do your market research
We just briefly told you what a salon suite for rent is; we gave you the basics. What you need to do now is do extensive market research about booth rentals. There are hundreds of articles online about booth rentals. There are most likely many professionals in your city you can talk to. Do not rush into this decision. It is too important for rushing. The first step, then, to maximizing your profits is to do the legwork first before making any decisions about a specific location. Make sure this type of business plan is for you.
Start small and grow
Salon suites for rent can cost as little as $100 per week. They can cost as much as four-or-five hundred dollars per week. A chair rental may cost very little. A large suite may cost quite a bit. Our suggestion is to start out as a one-person business, renting something which fits comfortably within your budget. You can always upgrade as you become more successful. Minimize the risks early on while you get your feet planted firmly beneath you.
Take care of your base
Almost all of our clients at Salon & Spa Galleria begin with a customer base of loyal customers. That is your success core. Take care of them and they will tell their friends, and that means a slow increase in your business. Nothing speaks profitability like a loyal base of customers. Their word-of-mouth advertising will mean serious profits down the road for you.
Or, as my granddaddy was fond of saying, dance with the girl who brought you to the dance in the first place.
Be creative in marketing
Most people, first starting out in business, have limited funds for marketing. We suggest you learn as much about gorilla marketing as you can, getting the most out of your advertising dollars.
Grow at a pace you are comfortable with
Do not be in a rush. Rushing means mistakes, and some mistakes can cost you dearly. Build your company at a pace you can live with. Learn the ropes. Give yourself time to make mistakes which will not cost you dearly down the road. Yes, being successful is important, but so is learning how to run a business. You will have to take some lumps along the way, and those lumps will not harm you dearly when you are a small business; they will hurt you much more if you are a large business with several people working for you.
A word about Salon & Spa Galleria
Salon & Spa Galleria is locally owned and operated, with twelve locations and more on the way. Call us if you are in the Fort Worth area and you would like to discuss a salon booth for rent or want a tour of one of our facilities. We would love to have you as a member of our team.