The current failure rate in a hair salon suite, or any other type of salon suite i.e. nail salon, microblading salon, etc., is at 30%. Nearly one-third of those leasing a salon suite in the United States go out of business within the first year.
Fact!
It is our contention that most of those failures occurred because the salon owners, usually first-time owners, had no idea how to manage a business, and we find that sad. We are Salon & Spa Galleria, serving the Greater Fort Worth Metro area with twenty-three salon suite rental locations. Call us at 817-917-1416 for information on current pricing and availability.
Now, though, let’s talk about managing a small, independent hair salon.
The built-in advantage of a hair salon suite.
The reason why hair salon suites, or any type of suite rental in the beauty and wellness industry, are popular and so successful is because they are smaller than traditional beauty shops, and that smallness means less financial risk. This trend picked up steam and became wildly popular simply because it made ownership possible for many beauty professionals who are not “rolling in dough,” so to speak. For very little investment capital, it is possible to open a salon AND thrive in that salon, provided you know a few basics about business management.
Still, there is risk.
Having said that, there is risk in any business venture. Without the proper knowledge, without the proper managing skills, and without a strict budget which you adhere to, failure can and will happen.
That’s just the black and white truth of the matter. We would be negligent if we did not point that out, and we do point it out, to anyone considering this type of business venture. There is no safety net in this business model, no guaranteed weekly paycheck, no rich uncle who is going to bail you out when times get tough. You make all the decisions, and the money you spend is your money, with no guarantee that you will succeed in the next few months.
How we help at Salon & Spa Galleria.
What do we do at Salon &Spa Galleria? First, we offer an amenity package which is an industry-best, amenities like free utilities, free Wi-Fi, free web page, and more, easily saving you hundreds of dollars in monthly overhead expenses.
But there is more. We offer free management and marketing workshops and, quite frankly, those workshops are invaluable. We will teach you about mission statements, about business plans, about the best marketing techniques . . . in short, we will give you the knowledge, and support, you need to stay on your feet and thrive in this industry.
And what if you do not live in Fort Worth and do not have access to that kind of assistance? Call around to the various agencies and see if they offer a similar rental package. If none of them do, call your local junior college and see if there is a course offered which can help you, or call your local Chamber of Commerce and ask if they have a mentor program. There is help out there, but sometimes you need to go out and find it.
A final word about Salon & Spa Galleria.
Salon & Spa Galleria leads the way in the Greater Fort Worth area. We are locally owned and operated, and we are standing by to help you bring your dreams of ownership to a reality. Call us today and let’s make this happen!
