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5 Benefits of a Hair Salon Rental Space

To own a share of this pie, you have to transform yourself from an hourly worker to the owner of a salon studio. Hair salon rental space companies make this transition easy for you.

Do you remember your first day as a hairstylist? Most likely, you would've worked for a commission or hourly pay, but that's not where your aspirations should end.

Owning a hair salon is easier today than ever before because of a booming hair salon rental space. Unlike in the past, you don't have to put in all your savings and take a business loan to start a salon. Rather, you can simply sign an agreement with a hair salon rental space company to run your hair salon business, so you can reduce the risks and start without a big investment.

Besides that, let's see other reasons to partner with a hair salon rental space company.

Booming Career

Do you know the U.S hair care services industry includes more than 80,000 establishments that provide a combined revenue of $20 billion?

This number alone is enough to enthuse you to start a salon suite to cater to your customers and to follow your passion! Also, reports show that this industry has been enjoying an annualized growth rate of 1.4% from 2014 and it is currently valued at around $50 billion.

To own a share of this pie, you have to transform yourself from an hourly worker to the owner of a salon studio. Hair salon rental space companies make this transition easy for you.

No Major Investment

One of the biggest impediments to starting a business is money. Let's face it. Not everyone has enough savings to buy a space and start a salon. At the same time, this lack of finances should not stop you from achieving your dreams.

That's where a rental hair salon fits in. In this model, you rent a hair salon space and run it the way you want. There isn't a huge upfront cost involved and at the same time, you have the flexibility to brand yourself, use your favorite products, provide top-notch customer service, and build a steady reputation for your business.

Customized Your Way

When you choose a hair salon rental space, you can customize it the way you want. After all, it is your space, so it's your way. You can also choose your branding style, the choice of services, the cost for each service, promos and discounts, marketing, branding, the number of employees you want to hire, and just about everything else.

In other words, you get to have a hair salon space just the way you want, but without the hassles that come with owning a space.

Tax benefits

Undoubtedly, running a hair salon business is expensive, but the income you make from it can also be huge. Plus, you have one of the biggest financial advantages - tax savings!

You can write off your business expenses and this can be a big saver, given that it can move you down to a lower tax bracket.

Flexibility

Another benefit of hair salon rental space is that you have the flexibility to come and go as you please. While this doesn't mean shirking your responsibilities, you don't have to be there every hour to earn money. You can leave when you have to and still the salon will run, and you'll make money.

This flexibility can be particularly helpful if you have a small child to care for or if you're running multiple businesses.

These are some of the benefits/gains of a hair salon rental space where you get to enjoy being the owner without the upfront leasing or buying costs.