Please listen to Jill ! She is the voice of reason! You will have SO many regrets if you do this, too many to address here! I suggest writing up a "Pro's and Con's" list of reasons you should/should not make this (or ANY!) move! Example:
Pro's: 1. Get out of "Salon Drama" 2. They pay utilities 3. Responsible only for your own products/cleaning Con's" 1. You will need to provide EVERYTHING 2. Rent is high ($1,000.00 a MONTH!? Really!? wow.. How many clients would you have to do per day to just break even!? What is your profit margin? You will spend an hour a day commuting, not doing clients etc.) 3. Salon is 25 minutes from current location 4. Most clients will not be willing to follow you that far. 5. You make money where you are, and income at the new place is either questionable or non existant 6. Will have to re-build clientele 7. You do not have the capital needed for start up on hand to make this move. 8. You may be borrowing your way into a negative cash flow situation 9. You now get the point of this exercise... :-) Pam Nail Designs Unlimited (30+ years of Nail Salon Experience) Ohio -----Original Message----- From: Jill Wright <jnai...@hotmail.com> To: nailtech <nailtech@googlegroups.com> Sent: Fri, Apr 12, 2013 7:04 pm Subject: NailTech:: Re: Employee to Rental Is it a good idea to go into debt, by taking out a loan, to build a business with no clientele? Is it also a good idea to jump out of a plane, at 50,000 feet with no parachute? NO, to both questions. It's a recipe for disaster. Besides, the SBA requires a very detailed written business plan, your last few years of tax statements & something substantial for collateral before they'll grant any loans, so you're probably looking at charging it all on your credit cards (inadvisable also). This place isn't the only salon in town, so indeed check around not only for pricing, but for a salon that has a good reputation with long term stability and a really good high class staff to work with. It doesn't matter how cheap rent is if the people you're surrounded by for 8-10 hours a day are not decent people, with good work ethics who will lift your business (and your spirits) up instead of dragging them down. Proceed with caution & do your due diligence before you choose your next salon. Jill Wright www.nailtechevent.com On Wednesday, April 10, 2013 8:46:49 PM UTC-5, NailPixi wrote: Hey everyone. I am looking to go from an Employee status to Renting a "Suite" in one of those new individual Salon room type places. I am looking for help from anyone who can help. I would like to know about how much an average start up might cost. The place I am looking at already is set up for hair in each room. They would take out the hair washing sink and replace with a regular sink and there are a lot of cupboards. Otherwise I need to provide everything else. I have a standard nail table (think Sally's cheaply) that I could use for a while so I can get other things first, and I am thinking about the Red Dragon Steam Pedicure set up. They cover Utilities and they will pay for plumbing (if I were to get a regular Pedi chair) and also insurance for a year. They also cover the first $400 for a retail purchase (and expect nothing in commission or payback). The rent per week is high ($250 a week), and I am going to try and talk them down. If I can get it talked down, I really want to do this. Also, I will be about 25 minutes from my current location, so I don't expect a lot of clientele to follow. A few maybe, but I really would be re building. I guess I am trying to figure out if this is a good move. I make a good amount of money. I will take a hit for a while, but it isn't why I want to get out of a employee situation. I just want to get out of a drama filled location and I am sick of trying to do everything the right/sanitary way when no one else does. I clean a Pedi tub, but when I do my next Pedi I have to clean it again because someone else used it in between. I just want to be responsible for myself and not have to worry if I am walking into work to do nails, or to clean up after everyone else. (Sorry, I am venting and that isn't what I set out to do) Back on track, I know a lot of people say they would never go back to employee situations. Once people start Renting they "can't believe they didn't do is sooner." And I want to get to that point, but I want to know what I need to get started. Would you get a Small Business loan for start-up? And opinions on what should be a weekly rent would be helpful, but I know that can very from city/state/area. Any help anyone can give is appreciated! Thanks! -- You received this message because you are subscribed to the Google Groups "NailTech" group. 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