Looking to branch out on your own as a stylist but can’t afford to start your own salon? Renting a salon suite can actually provide you with the freedom to run your own business without a lot of daunting commitments. Typically, salon suites rent out to many different stylists, barbers, and nail techs who share a building, but have separate rooms for their services. So, let’s find out if this is right for you.
PROS
You can focus on your clients completely.
Having your own private room to complete your services will allow you to focus totally on the client and their needs. They will feel like it is an exclusive experience where they can be comfortable. There is no hustling and bustling of other stylists or clients that can cause the space to feel cramped. These issues could lead to your client not feeling comfortable to speak up or let their guard down. Another great perk of this is that you can take your time. There is no rush to shampoo in a timely manner to free up the chair or to speed through blow drying so you don’t disturb other stylists. This pro will most likely lead to repeat business from your client since the process can really be customized to fit their needs.
Use the products you love.
Working for a salon often means that they only have certain products that they use. If you have a niche clientele, they may need specific products and colors. Renting your own suite will solve this issue because you have the freedom to choose the products that you use. You can even use this freedom to offer trendy products to attract new clients and stay up-to-date on styles. This could be a really fun way to market yourself and even continuously offer something new.
The space is YOURS!
Are you a stylist with flare and unique style? Of course, you are! Renting out your own space will allow you to really show off your personality through the design of your suite. Buy-Rite Beauty specializes in making your dream space a reality. There are so many designs to choose from and your options are unlimited! You are also able to listen to your own music or what your client prefers without causing any disturbance. This is just another way to make the client feel special. This will also make you more comfortable expressing yourself and your style. Another great benefit is that you can also change your space as you see fit. Is your styling chair too bulky? Or maybe you need more shelves for your products. You can customize your suite to make it as efficient as possible!
You are your own boss!
This might be the most exciting pro on the list! You feel ready to take the step on your own and make the most of your skills. You can control how much you charge and when you want to work in a suite. The best part is that it is much less expensive than opening a full salon. You will still get all of the same freedoms as you would in your own salon, but you are paying cheaper rent and splitting utilities in most cases. This will allow you to take home a larger profit and find new ways to improve your business.
CONS
You have to market yourself.
This might not sound daunting at first, but you have just entered the realm of small business owners. You are now competing with other independent stylists and full salons, and everyone wants the same thing: clients. Make sure to do extensive research into what works best for your clients. You should also check out what other stylists are doing to attract business. Marketing your business can eat into your time and resources while you are trying to juggle all of the other aspects of opening a business. Before committing to this change, make sure you are confident in how you want to get the word out about your services.
Your personal time becomes limited.
Something that many stylists take for granted while working at a salon is that once their shift is done, they can leave their work at work. If you start your own small business in a salon suite, you will need to devote extra time outside of the salon responding to potential clients, checking emails, and restocking and cleaning your suite. This can become overwhelming if not managed correctly. You might find yourself messaging clients outside of work hours or receiving delivery orders on your weekend. Many salon suite stylists find that they don’t ever really get a break from their business which might not work for your life.
Clients!
The ideal situation for moving to a salon suite includes taking all of your devoted clients with you with no questions asked. However, the reality of moving your business is that you are bound to lose some clients. If you have plenty of clients at your current salon then you might not feel this as much if most of them follow you. If you are struggling to keep consistent clients then you should really take into consideration what this might do to your business. Do you have enough to sustain you while you get established? Finding new clients should be on the short list of things to do before you make a full transition to your own suite.
Fewer Walk-Ins.
Being part of a salon suite changes the way that clients view the place of business. With so many operators in one business, walk-in clients are less likely to stop in because there are so many options. This will take extra marketing on your end to let the public know where you are located and whether they can walk into your suite or if they need an appointment. Less walk-ins could potentially damage your business if you were reliant on this at your previous salon.
Insurance and Finances.
When you open a salon suite, you are solely responsible for collecting money, filing sales tax returns, saving money to submit for federal and state taxes, bookkeeping, inventory, and paying suppliers. These were things you probably didn’t have to worry about when you worked for a salon since you were just an employee. The best way to combat this is to hire a good accountant or a part-time bookkeeper so that it all doesn’t back up at the end of the year. Another thing you might want to consider is insurance. Once you have your own suite, make sure you have business liability insurance that will cover you in case something goes wrong. This insurance can cover things like injuries in the suite, damages, and break-ins. It is likely that the Salon Suite owner will carry insurance on the building but it likely won’t cover personal liability for injuries or any of the contents of your suite.
This is a starting point to help you figure out if the pros do in fact outweigh the cons of renting a salon suite. You will need to do extensive research and consider each of these points before you commit. Salon suites offer so many opportunities for stylists, but they might not be right for every situation. Buy-Rite Beauty is here to help, too. We have experts who can walk you through everything you might need to start this new venture!
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