1.
Re: hair salon confussions Apr 26, 2009 12:57 PM
The salon industry, like the body shop industry, seems to be one of those where every worker dreams of having their own - at least until they get their own. You see MANY up for sale and the price being asked is VERY small compared to other businesses with similar investment requirements.
That is because those people are overwhelmed with the responsibility and underwhelmed with the profit. Much of that is because they didn't think they needed a business background first. So, many end up just wanting out and the price they'll take is less than what it would cost you to move stuff in - much less buy it.
But if you want your dream to last and be pleasant - make sure you have the business skills - or a means to acquire them. Achieving profit doesn't mean you've made it - the first bump in the road will take that and more. You need to know how much product you have to sell and how many chairs you have to fill with what type of arraingments. You need a detail plan that works - before you start looking to lay money down.
Your success will depend much more on that business thought process that went into it than whether you bought the salon or started your own. So, there are great buys out there, but be sure you know how to turn that good buy into long term profit... Dreams are great, but you have to plan to turn it into a happy reality.
Good luck,
Ed
