Where do I start with a new salon?

[shell777naz]

hi all, i have just finished my level 3 and left my shop ut want to set up shop with a friend.

I just dont know what to do first.

1. open business account?
2. Register a business name?
3. take out insurance?
4. look for furniture?
5. do i pay my lease up front??

Oh the list goes on no wonder i cant sleep lol! I am viewing a potential good property (new build) next week only 1 other shop near and he charges far to much where no local will go so think we will do really well here.

the lease is 10K per annum

any advice would be welcome

thanks :biggrin:

 

[shell777naz]

also is a budegt of 10K enogh for a new salon.... equiptment plumbing decoration ect??? I can probably strech further ,

 

[Kate1982]

Sorry but you will have to give us more info. Ie. how big the salon is.
However one piece of advice I will give is never ever ever set up with a friend.... I know you won't losten. (I didn't when people warned me) and 6 years later I'm back where I started.
xx

 

[shell777naz]

Reply? he is colleuge in a salon where i was more that a personnel friend, do you really think this is a bad move?

Small salon only looking to start with 2 hairstylists, just setting up initially not offering any other service to begin with maybe in time to expand but i dont want to be too ambitious because i am nervous!

 

[Kate1982]

I can only speak from my own experience. I have gone in business with friend twice and regretted it both times. They ended very badly. However perhaps there is someone on here who can counter my experience.
As for cost it is pretty much impossible to say from the info you have given. I don't know how much your rent/rates are. Are you doing advertising what products are you using etc etc. What I will say is my salon has cost nearly 50K and it has 3 tment rooms and 4 stations.
xx

 

[persianista]

50k is fairly realistic for a new salon including lease and legals. You should also have acouple of years personal living expenses saved up too, as you are unlikely to show a profit for a couple of years.

Personally, I would never enter into a partnership.

 

[shell777naz]

Does you 50k include first year lease?? I am looking at a new build on a very very main and busy road 2 mins walk from liverpool city centre all buses stop right outside, student accomadation above the shop, rent is about 500 per week for 2000 sq feet, is this enough room for 1 treatment room and 2 sunbed rooms?

i want to rent to beauty room out what are the rates for this or is it best to ask for a 50/50 split on treatments??

I am in partenership with a distant relative, he supplies 50% funding and i have full run of the shop. the collegue will be coming with me as my salon manager i think this is a better option.

I have costd to set up at around £15,000. this includes 3 mths rents, stock, furniture ect