Salon suites are the hot ticket in the beauty and wellness industry these days, and their popularity will increase as we move forward from 2024. Having said that, there is a word of caution we really feel compelled to mention in this article. We are Salon & Spa Galleria, serving the Greater Fort Worth Metro area with twenty-three salon suite rental locations. Call us today at 817-917-1416 for more information about renting salon suites.
The popularity of salon suites is growing.
Initially, salon suites were seen as a trend, but they have now become a permanent fixture in the industry. With the growth of the salon suite concept, it’s important to look at the future of salon suites spaces and understand where this business model is headed.
Learn how salon studio suites will evolve over time to understand the future booth rental market.
Salon suites are being built in record numbers across first world countries. This growth shows no signs of slowing down!
These spaces offer many benefits, such as more autonomy for beauty professionals, flexible schedules, and a greater sense of privacy for both stylists and clients. As the number of salon suites grows, it’s clear that they are not just a fad, but are here to stay.
So is the risk of failure in a salon suite.
In 2013, the booth rental failure rate was around 10%. By 2023, it has 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 do not fully understand the business side of running their own salon suite. This includes marketing, bookkeeping, and other administrative tasks.
To combat this issue, salon suite owners can provide more education and resources to their renters. This can include business courses, marketing support, and mentoring programs.
What you can do to be successful.
Go the extra mile!
The attractiveness of renting salon suites, and the ease with which a salon suite can be rented, make them a very popular business model; but those reasons are also reasons why many rush in without fully understanding that success does not come easily, no matter the industry and no matter the attractiveness of the business model.
Before you ever sign a rental agreement for salons, expand your education. Learn marketing for small businesses. Take classes or workshops about managing a small business. Learn as much as you can about business ownership. Knowledge is power and that power will equate to increased profits in the future . . . but only if you do the work in the present.
A final word about Salon & Spa Galleria.
Salon & Spa Galleria is locally owned and operated. As part of our amenities package, we offer monthly workshops on successful management and marketing. We serve as mentors for our clients, sharing valuable information with them so that they can benefit from our extensive experience. Call us today and arrange for a tour of our luxury salon suites. Ask your questions. Find out for yourself why Salon & Spa Galleria is a leader in the salon suite industry.
