Carefully read leases for potential spaces to understand what is and isn’t included by the landlord.
For example, Ruane says, will they provide tenant improvements or offer an allowance if you sign a five- or 10-year lease?
Remember you can smart small, Ruane says: Just because your space has room for eight workstations doesn’t mean you have to put them all in now.
“You can always come back as you’ve paid down debt and borrow more,” he says.
Here are a few to get you started: Different salon types have vastly different business models.
Will you open a salon from scratch, buy an established salon or purchase a franchise?
To do this, many or all of the products featured here are from our partners. Few salon owners reach celebrity status and command such rates, but the nation’s 1 million-plus salons and spas do enjoy annual sales of billion, according to the Bureau of Labor Statistics.
Without proper financial and legal planning, however, even the trendiest shops can crash and burn.
Will you operate on commission or chair-rental model?
With chair rentals, stylists are independent contractors who carry their own insurance.