Advice on buying a beauty salon
Although it’s important to choose a location that’s right for you, it’s worth bearing in mind that beauty salons aren’t perhaps as reliant on passing footfall as many other high street businesses. Customers are usually prepared to travel some distance to a salon they trust so customer relationships, rather than a prominent position, are key.
If you want a salon that offers high-end branded treatments, you may need to be prepared to shell out thousands of pounds on the latest equipment; an investment which could take some years to recoup. It’s worth considering this when preparing your budget and calculating returns.
It’s a good idea to visit the salon as a customer to evaluate how effective staff are at delivering beauty treatments and handling customers in a professional manner. A salon with well-trained therapists and a calm, professional atmosphere will be a much better proposition than a poorly run establishment.
One of the advantages of buying a beauty salon is that it’s a business that can be operated to suit the owner. Opening hours can be tailored to the volume of trade desired or expected; some salons follow normal retail patterns, while others offer late openings for working clients.
If you do decide to buy a beauty salon, it’s important to focus on doing all you can to retain existing customers. This can be done by maintaining high service levels and not making too many changes in the early days. It’s a good idea to insist on an exclusion clause to prevent the seller from setting up in competition under a new name.