So many people in the beauty industry are stuck between making enough money to start their own business, and not feeling ready to open their own salon or spa. Rather than paying someone else a part of their profits or spending their life savings on opening a salon, many beauty professionals rent a salon suite.
Salon suite rentals are a great option if you’re looking to move away from working as an employee and branching out on your own. The suites act like your own salon, with all the amenities that you would need to run your business. And it’s not just for hair stylists; salon suites work great for nails, lashes, medspa services, and more.
While a salon suite might seem like the perfect path to owning your own business, it’s not for everyone. To help you decide whether or not you should rent a salon suite, here are a few pros and cons to consider.
Pros of Renting a Salon Suite
Be Your Own Boss
When you rent a salon suite, you are in charge of how your business runs. You set the hours, prices, services, and more—without having to get clearance from anyone else.
This is what a lot of people strive for because it’s nice to not have anyone else telling you what to do! It does come with extra responsibility. But if being in control of your time and talents is a priority for you, renting a salon suite is a great choice.
Control the Client Experience
When renting a salon suite, you can create the look and feel of your space to match your brand. You can be as creative as you want with your layout, décor, colors, furniture, etc. so that it fits the vibe that you are going for.
Serve Your Niche
If you work in someone else’s salon, you might be limited to the services that they offer or be asked to do things that you don’t enjoy. But in your own salon suite, you can specialize in whatever niche you choose and focus on building up that service.
Control the Pricing
One of the nicest benefits of renting a salon suite, you have complete control over the pricing of your services. Many times when working in another salon, you are tied to their prices and don’t get to decide how much money is going into your pocket.
Buying and running your own salon comes with a lot of risks. You have to invest thousands of dollars, hire and manage staff, and many other responsibilities. But when you rent a salon suite, you are taking on much less risk with fewer upfront costs and obligations.
Cons of Renting a Salon Suite
You Have to Provide the Clientele
When you rent a salon suite, it is up to you to build your clientele. You don’t have the luxury of walking into an already-established business with existing clients. It requires patience and hard work, but if you are willing to put in the effort, it can definitely pay off!
Walk-ins Aren’t as Common
When you don’t have a mainstream salon to attract people, it can be hard to get walk-ins. You’ll need to do some extra marketing and networking in your area so that people know about your business and are willing to try it out.
You Still Have Business Owner Responsibilities
Since you’re technically running your own business, you’ll have to manage the responsibilities that come with it. You’ll have to handle bookings, pay taxes, figure out insurance, and more. It can be overwhelming if you’re not prepared for the extra work that comes with running your own business.
You might consider hiring an assistant or a bookkeeper to help you with these tasks if it seems like too much to handle.
It’s More Expensive Than Renting a Booth
Finally, it’s important to note that renting a salon suite can be more expensive than renting a booth in another salon. While there are numerous benefits to having your own space, you should consider the cost and make sure it fits within your budget.
Should You Rent a Salon Suite?
Renting a salon suite can be a great choice if you’re looking to run your own business and you already have an established clientele. However, there are some risks involved that you should consider before making the decision. If your monthly income without walk-ins doesn’t support the rent, it might not be the best choice for you.
And don’t forget that you’ll be learning how to run a business, probably for the first time. If that’s never been interesting to you, it’s not a good idea to rent a salon suite. The bottom line: weigh out the pros and cons carefully before deciding if renting a salon suite is right for you!
Start Your Business With Beautiful Rentals From Indie Studio Suites
If you’re a budding entrepreneur who wants a space that’s uniquely yours, come tour Indie Studio Suites. We have all the amenities you need to serve your clients, no matter what part of the beauty industry you’re in. With beautiful rental suites and a thriving community of entrepreneurs, Indie Studio Suites is the perfect place to launch your business. Schedule a tour today and open up shop tomorrow!