The American hair care services industry is huge, with over 80,000 establishments bringing in annual revenues of about $20 billion. Out of the 80,000 establishments, more than 77,000 are salons, and the industry is still growing.
If you’re a beauty professional looking to meet the growing demand for hair care services, you should consider getting a salon suite for rent.
A salon suite is basically a small establishment that allows beauty professionals to own their salon without the risks associated with owning an entire building. As a result, salon suites for rent are becoming increasingly popular.
If you’re a beauty professional, you could make more money and experience greater freedom by renting out a salon studio. But before you rent out a salon studio, here are some factors you should consider before renting out one.
You may find a salon suite at an excellent price. But before you settle for it, dig deeper and find out whether other add-ons such as parking, laundry, and utility costs are inclusive of the rent. Sure, a salon suite may be inexpensive at first glance, but if you have to pay for these extra add-ons, the deal may not be as good as it first appeared. You're better off knowing the total price than being surprised with service charges once you have set up your salon.
Don’t be quick to sign the lease agreement. Keenly read through it before you sign it. And if you come across sections that you don’t quite understand, probe your landlord. Sure, you may not want to come across as aggressive, but you’d rather tackle contentious issues before you sign the lease rather than after. Ask your landlord to clarify issues such as:
- Procedure for terminating the lease
- Utility costs
- Decoration terms
- Conditions for upgrades and repairs
Don’t be hesitant to ask questions even if they feel unimportant. Plus, for extra safety, consult a lawyer before signing the lease.
Before you rent out a hair salon, scout for an appropriate location. Remember that you may be an extremely talented stylist, but if you choose an unsuitable location, you may be unable to attract the clientele you want.
Your salon studio shouldn’t be in an obscure location. It should be easy to locate. To attract clients, identify your target market and find a prime location to reach them. If you wish to retain your current clients, try and find a location that’s near where you’re currently located. You should also consider things such as security and availability of parking when looking for salon suites for rent. Every client wants to be sure that if they park near your salon, they will find their car and belongings intact.
Your Ability to Follow a Schedule
Owning your own hair salon can give you plenty of freedom. You get to choose the hours you’ll work depending on your schedule and the needs of your clients. Monitor your schedule and adjust it accordingly. If you find Thursday mornings are slow but evenings are busy, you may need to adjust your schedule by opening later and closing later.
Renting Out a Salon Suite
Are you looking for salon suites for rent in Arizona? Luxspace Studios can spur your career to the next level. Ready to rent out a salon suite? Contact us today to learn more about our salon suites and book a tour.