It also depends were in Canada, some area's are really doing well and some salons are closing left and right. It is a tough business and dont expect to make a tonne of cash
Do your research, just because you put in better equipment does not mean you will do better.. (Build it and they will come, does not work in this industry) There are a lot of other factors you have to consider. The disty's in Canada are great and listen to them, why would you not trust them?
Is 350K your first yr of over head + build out + equipment? When are you planning on opening, there are a lot of other factors involved besides the other salons and your demographics..