Salon suites have altered the trajectory of the beauty and wellness industry over the past ten-fifteen years, but still there is a great amount of misinformation about them. It is our hope that this article will eliminate some of that misinformation and bring clarity to a very good opportunity for millions of talented beauty and wellness professionals.
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 more information.
And now, on to salon suites.
What are salon suites?
Are you a beauty professional looking to take your career to the next level? Renting a salon suite could be the perfect solution for you. By renting your own space, you’ll have the freedom to create your own brand, set your own hours, and keep all the profits for yourself . . . because you will be the owner of the salon. You just won’t own the building, nor will you rent a building . . . and that makes all the difference in the world.
No, this is not a franchise. You pay not franchise fee. You pay no percentage of the profits for any association fee. You are the owner of your salon. You just don’t own the physical space where your business is located.
So what, then, is the difference between this business model and traditional beauty salon business models? It is a difference of size, scale, and affordability.
And the first question which is always raised is this: Can such a small salon make enough money to live on?
We break it down for you in the next section.
Breaking down the finances.
Let’s take a normal 22-day work month for our example. Let’s say you average seven customers per day during that month, and your average sale per customer is $75. That computes to $138,600 per year gross income.
Can you average seven customers per day? Is your average sale $75 per customer? These are variables which change with every salon, but we do believe they are realistic and doable.
Please note we said gross income. You will need to deduct the rent of the salon studio from that total, and also deduct any overhead you have i.e. utilities, Wi-Fi, marketing, laundry, licensing. But wait!
At Salon & Spa Galleria, most of your overhead expenses are included in your weekly rent payment which, as of the date of this writing, is as low as $75 per week, or $300 per month.
And there is nothing stopping you from expanding your hours, opening on weekends, hiring a stylist to handle those expanded hours, and paying a commission to that stylist, thus increasing your profits.
Are they for everyone?
We cannot answer that question for you. Some people do not make it and that’s the truth of the matter. It takes a certain type of person to handle the pressures of ownership. There is no safety net financially. There is often a feeling of isolation. There are certain business techniques which must be learned, decisions to make, and often long hours to be worked.
But, for those who are made of the right stuff, there is also a great financial future waiting for them. And no matter the nature of your business, as long as it is beauty or wellness related i.e. esthetician, manicure, therapy massage, other forms of therapy, microblading, it can be operated from a salon room rental.
A final word about Salon & Spa Galleria.
Salon & Spa Galleria is locally owned and operated. Give us a call and ask us about our long list of amenities including free utilities, free Wi-Fi, free web page, free marketing workshops, free business plan, free laundry facilities, etc.
