Not to be negative in our messaging, but the simple truth is that not all salon suite rental business ventures turn out with a happy ending. That is why we have decided to write this article, to share with all of you our insider advice on how to avoid being a sad statistic in this industry.
We are Salon & Spa Galleria, serving the Greater Fort Worth Metro area with twenty-three affordable salon studio rental locations. Call us at 81917-1416 for more information.
What is a salon suite rental?
Unlike traditional salons, which typically feature a communal layout shared among multiple professionals, a salon suite is a private, self-contained workspace available for lease. Imagine a traditional salon and then shrink that image down to one room, or suite, where one person is working rather than multiple people. That image is what a salon suite rental looks like, a one-person business operating in an affordable workspace.
Mistakes people make which lead to failure.
In 2013, the booth rental, and salon suite rental failure rate was around 10%. By 2023, it had grown to a whopping 30% failure rate, both in open concept salons and in salon suites.
This is due in part to a lack of education on what it takes to be successful in a salon suite.
Many beauty professionals may not fully understand the business side of running their own salon suite. This includes marketing, bookkeeping, and other administrative tasks. It could also be a matter of underfunding, poor marketing techniques, or simply poor customer service.
Our suggestions for success.
Our first words of advice are crucial, we believe, to find success in a salon suite rental.
Find a mentor and learn from their expertise. It is always hard to ask for help, but that is exactly what you should do as you enter this business arrangement. There is no shame in not knowing something, but refusing to admit your shortcomings can be the final straw which kills your business.
With that out of the way, here are a few more tips to put you on the right track for success:
- Know your brand and develop a mission that resonates with your target market.
- Maximize your space in a salon suite
- Sell retail to increase profitability.
- Communicate effectively with clients.
- Provide consistent great work and make guests look and feel great.
- Work social media for inexpensive marketing.
- Related to #1, write a business plan and a mission statement. They will be the guiding light for every business decision you make. This is one of those steps of success far too many people skip when they are first starting out; it is crucial that you do this.
A final word about Salon & Spa Galleria.
At Salon & Spa Galleria, we know what success looks like, and we know how to attain it. We are locally owned and operated, and part of our amenities package is free mentoring and workshops to help you with the ownership part of operating a business. Call us today and arrange for a tour.
