You’ve finally decided that you want to rent a salon suite. You’re confident with your work and have clients that appreciate it. When the time finally comes to be your own boss, you’ll want to make sure that you’re establishing a strong foundation for your business. Getting the right salon suite will be the first step in the right direction. Here are some tips that will come in handy if you’re looking for salon suites for rent.
Client List
The client list is the lifeline for your business. It is the reason why you’ll be looking for a salon suite to rent in the first place. You want to be sure that more than 75 of your current clients will move with you to your new business. If you’re always booked 85% of the time two or three months in advance, that’s a clear sign that you’ll not struggle to get clients to your new business. Before you rent a salon suite, there are three key numbers that you’ll need to have in mind:
The average size of a job
Client retention rate
Rebooking rate
What to Charge
It will not be a good idea to lower your rates so that you can attract new clients. Just because there is the uncertainty of your old clients following you to a new salon doesn’t mean that you should sell yourself short. Your loyal clients will not have a problem paying the same rates as before. You also don’t want to scare them away with an unreasonable increase in rates.
Budgets and Expenses
You’ll need to note down all the expenses that you’re likely to incur before opening up the new salon. It is imperative that you’re researching the start-up costs that are involved in running such a business. But compared with traditional loft space, Salon Lofts is helping to redefine the salon industry, offering its partners a well equipped loft to properly assist clients without having to take on a hefty lease.
Planning The Operations
If you have a background working in a salon, there is a high chance you’re aware of the workflow processes. It will not take a lot of time before you establish the operations. You’ll need to figure out the POS system to use, the specific services that will be offered, and the scheduling system to put in place. Have a list of the daily to-do things so that the processes are streamlined for maximum efficiency as you run your salon suite.
Bottom Line
Even with good savings, you’ll still need to find out if you can afford the startup costs associated with running a salon business. You’ll need to figure out how to manage the finances and pay yourself. That is why hiring an accountant is important. It will also help a lot when you find a good location with a steady flow of potential customers. To get started with that, you can check out https://salonlofts.com/
Salon Lofts
Address: 226 North 5th St., Suite 530 Columbus OH 43215
Phone: (888) 295-6073
