 Re: Do you want to open a salon?
Interesting post, normally i dont type this much, but im up early!
Some points after 5 years of being open........
Brian is right hands down, in fact i think he's a little short, the major chains are spending 300-400k on new build outs and charging 18.88, this you will be competing with.
FIT, its great that you opened how you did, but you have a suprise coming, I did the same as you, bought used stuff, did it all myself, saved tons, BUT.. then found out the old equipment just wasnt bringing them in, and even though the place "looks great" it had the look of weekend warriors. (point being now matter how good you are, commercial carpet is not italian tile!), also found out that i short changed myself with the lack of expansion potential.(thought those 7 rooms were enough to run a business) you will need additional Space, AC, Electrical.
So, 5 years later after starting the way you did (and thinking i was hitting it on the nail head), we have......
Spent the 300k that should have been spent in the first place to do it right the first time, reinvested ALL monies into the business (can we say no paycheck fo 5 years).
Fit, not poking at you (or me) but potential owners that think they can open for say 150K soon find out they either end up spending the right amount of cash to open correctly or fall into the category we all want to avoid which is a so so salon performing at a so so rate wondering why its not better and should i sell.
NUGLOW, your thinking right on you EFTS but...
your projections(500) are based on todays bills, i thought like you did, But 5 Years later the number 500 needs to be 800.
And yes the equipment companies tell you this number grows and grows when they have no idea about the potential number of EFT members in your area. (never seems to be the 500)
We have the unique "opportunity" to take over a failing competitor, normally you would see opportunty, but in reality it would require a complete gutting and start over with new everything. At todays build out price, market price (18.88)and issues the industry as well as the customer base has, i dont think its worth it!
My 2 cents |