There are a great many considerations for those thinking about a salon suite rental, but the one we are asked about, most often, is cost. What does it really cost, a salon booth rental? What can you realistically expect to pay when you embark on this salon suite adventure?
We are Salon & Spa Galleria, serving the Greater Fort Worth area with twelve locations. Call us at 817-691-7300 for more information about the great opportunities which await you at Salon & Spa Galleria.
Now, though, let’s talk about money.
The initial rental costs
At most salon suite rental companies, salon space for rent will range from less than $100 per week to $400 or more per week, depending upon the size of the suite. These are generally month-to-month rentals, some are week-to-week rentals, so you have no concerns about paying six months or a year in advance.
Licensing costs
These costs vary according to the area you reside in, but a business license will usually run $100 or a little less, per year. There may be other licensing fees for your area, but the business license is the most common.
Business cards and marketing
Business cards can be had for as little as $25 for 500. The amount of marketing you do after that is entirely up to you. Do you want your own website? Do you want to put ads in publications? These are personal decisions and impossible to answer in this article.
Tools of your trade
If you are an experienced professional, you already have the tools of your trade i.e. scissors, razors, hairdryers, etc., but these will have to be updated at some point in time.
Taxes
Yes, you have to pay business taxes. If you are not familiar with business taxes in your area, you will have to learn about them, and if you are not confident in doing your own taxes, you will have to hire an accountant, which can cost anywhere from $250 per months and up.
Insurance
We highly recommend anyone running their own business, from a beauty shop owner to someone simply running a business out of a luxury salon suite, have liability insurance. Yes, it is an added monthly expense, but it will protect you from crippling financial damages should something go wrong.
Miscellaneous expenses
Laundry would fall under this category. If you are planning on selling products from your salon booth, you will have to factor in that cost as well. Perhaps you will want magazine subscriptions for your customers to read. Perhaps you will want cable or WiFi.
Bottom line
The bottom line is this: make sure you do a thorough accounting of every penny you will pay before you commit to this adventure. More businesses fail because of insufficient planning than those do because of a lack of sales. We want you prepared, so do your homework early.
A word about Salon & Spa Galleria
With twelve locations in the Fort Worth area, and more in the planning stage, we can safely make the claim that Salon & Spa Galleria is a name you should consider in the salon suite rental industry. Call us for more information and to arrange for a tour of our facilities. In the Fort Worth area, locally owned and operated Salon & Spa Galleria is the name you can trust for salon space leasing.
