Traditional hair salons were large retail locations with multiple workstations, and a large percentage of them were very profitable.
We are suggesting, in this article, that smaller is the way to go in 2024 and beyond, and we will tell you just how profitable smaller can be. We are Salon & Spa Galleria, serving the Greater Fort Worth area with twenty-three salon suite rental locations. Call us at 817-917-1416 for more information and to arrange for a tour of an affordable hair salon.
Traditional hair salons are too expensive.
Listen, there’s nothing wrong with large hair salons. The traditional model of multiple workstations has worked well for two hundred years. The problem with them is they require a great amount of space, and space is expensive. If you are a single person looking to own a hair salon, or a beauty salon, this traditional approach simply will not work financially for you. A retail rental costing several thousand dollars per month is beyond comprehension for a beautician looking to own a business.
Smaller hair salons are much more personal.
About ten years ago, the landscape in this industry changed. Smaller salons began to appear, and they were made possible by the immergence of salon suite rentals, single suites which could be rented for a fraction of the cost of traditional retail buildings. Suddenly, it was financially feasible for one person to own a hair salon suite. And the other huge advantage to these one-person salons: they are much more personal and the customers feel like they are much more important to the salon owner.
This is the trend of the future, and next we will break it down into dollars and cents.
The dollars and cents of one-person salons.
What does it cost to rent retail shop to house a beauty salon? Two thousand dollars per month? Three thousand dollars per month? More? Add to that the cost of utilities, WiFi, advertising, signage, furniture and equipment, insurance, et al, and it is easy to understand why the old business model was a rich person’s game.
What does it cost to open a one-person hair salon at a place like Salon & Spa Galleria? $75-$150 per week, a four-week monthly rent cost of $300-$600 per month, depending upon the size of the unit rented. But that is only part of the story. Included in that rental fee are all utilities, WiFi, your own web page, laundry facilities, 24/7 access to your salon, a free marketing and business plan, furniture if needed, and security monitoring. Since you are located within a Salon & Spa Galleria, no signage is needed, and that name, Salon & Spa Galleria, is easily recognizable by a majority of Fort Worth residents.
It is quite possible to operate a hair salon in one of our agencies for less than a $1000 per month; in fact, your monthly expenses will be closer to $500.
All that’s left to determine is how many clients you would have to service to pay for your monthly expenses? Ten? No more than fifteen? And after that we are talking about pure profit.
A final word about Salon & Spa Galleria.
Is it any wonder why we have grown from ten locations to twenty-three in a matter of four years? Salon & Spa Galleria is locally owned and operated. Give us a call. We would love to add your business name to our directory.
