Although having their own private salon studio suite is the perfect solution for many professionals, depending on the situation, it may not be the best fit for everyone.
Running a business is an involved experience that requires commitment, passion, and sometimes heartache. Yet, for many salon owners, the tough part of owning a salon is finding the space to accommodate their clientele. This can be especially difficult when your clientele outgrows your current work location.
Leasing a studio space for your salon can be an ideal way to get into the cosmetology, esthetician, and beauty business, but there are several important things that you should know before you sign a lease. These can include everything from credit issues to how much work your space needs before it is ready for use.
All About Leasing a Salon Studio Suite
Salon spaces vary widely in price and quality. A studio suite will generally cost less than signing a five-year lease on a storefront; however, they may not offer as many benefits. Depending on where you choose to lease, you could also find yourself stuck in a very expensive contract if other businesses around you close or move away.
If you’re considering leasing or renting a space for your salon, you should consider a studio suite. Below are some of the pros and cons of leasing a salon suite to bring to your business decision-making table.
Pros
Versatility
Salon suites offer more flexibility than retail locations because they come with multiple spaces that can be used as separate rooms or combined into one large space, depending on your needs.
For example, if you’re running a nail salon but would like to expand, then you’d need more room for all those extra supplies and staff members. Alternatively, if you already have a diverse clientele and want to create different sections in your salon (e.g. facial area vs hair color area), renting salon studios may make more sense financially speaking.
Be Your Own Boss
When you work at a salon, you have other people to answer to. When renting your own salon studio suite, it’s your business. You’re the boss. You don’t have to worry about someone else setting your hours or your prices. Renting a salon studio suite allows you to build your own business and be your own boss.
Cons
Size
If you have an established clientele, you’ll need a certain amount of room to accommodate them. What happens if the suite you’re considering doesn’t fit your needs? You’ll end up wasting money on rent without getting as much business in return.
Clientele
An established salon already has clients. When you’re hired there, you automatically have clientele. Renting a salon suite means starting your own business. You have to build your own clientele.
The Bottom Line
Leasing a studio space for your salon may be a promising option for opening your own business. Before you jump headfirst into anything, it’s always best to weigh the pros and cons. If you find that renting a salon studio is the right option for you, contact Indie Studio Suites today to take a tour of our customizable salon suites and learn more about opening your own business.
