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Thinking of buying an established salon

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  • Thinking of buying an established salon

    Hi all. I'm wanting to sell my house and investing the money in an establshed grooming salon. I have a nice little business in my home but I'm ready to move out of the area. How many have done this? Can you give me some pros and cons? Advice? I can't buy the salon until I sell my home which sucks. I would then have to rent a place for my kids and I to live so it would be a big plunge.

  • #2
    Wow, that's a big decision to have to make. I to will have to make some big decisions in the near future, so I think I have an understanding of what you are going through.

    Is the salon you are considering willing to let you come in and observe for the day? Give you a chance to see if the clients will be a good fit for you? Or will there be a lot be big changes for everyone? (not that you can't do that, but it does take extra time and energy). Do you have access to their books? Does it look realistic?

    Are you familiar with the area? Will your current client base be able/willing to follow you? How's the economy in the new area? What is the average cost for a rental and what do you get for your buck?

    Will you be able to sell your current property for what you need?

    I can't tell you what will be right for you, but I think if you are honest with yourself about your expectations and needs (short and long term), you will make the right decision for you and your family.
    "The more that you read, the more things you will know. The more that you learn, the more places you’ll go." ~Dr. Seuss


    • #3
      If you have not done so already, I would suggest you do a lot of research on the shop. Some clients will stay and some will not. You will get new with advertising. But, and this is a big one, be careful how much you pay and what you will get in return. There is a thread here from a month or so back about this very thing. Try to find it, it will give you more info. Good luck!


      • #4
        Thanks. Actually I want to move very far from where I am, so clients will not be able to follow me. Also I would like to let the current owner allow me to come in more then once actually and make sure the shop is really bringing in the clients. I have no specific one picked out yet, just a price range of what I will have to buy an established shop. The area I live in now is not want I want for my kids. I bring in new clients here but I really want to better myself and kids future. I have about 300 total clients with 150 of them reg. customers. I'm the only groomer so it would be nice for somebody maybe looking for a small shop and does not mind living in an area that is almost all blue collar, not knocking blue collar as that's what I am! It's just we are about atleast 10 years behind here and I feel I can't grow how I want to in this industry.


        • #5
          where are and where do you want to be? cost of living can kill you in alot of the so called desirable areas. i'm not trying to be a downer, just be realistic. my client base is blue collar,they are more reliable than the ones that have overextended,i do admire that you aare willing to pick up and move for the kids,takes guts, just do research on where. best of luck.
          ~~Everyone is entitled to my opinion!~~


          • #6
            totally agree about cost of living. Were I am at is really calm and wonderful for families. It is very blue collar for the most part, and exceptionally kid and animal freindly. They need more groomers up here. If you are looking for a fresh start in a land far far away, try the UP. People up here are nice, hard working and animal knowlegable. Prices are a bit behind, but you can find a place with a storefront and apartments for around 50-100000 can not beat that.


            • #7
              I admire your desire to 'move up' in the world but I would have to agree with some of the things said here. Please do your research, it would be an almost mandatory idea to speak with some legal help to insure you are seeing 'all' the fine print. Over the years I have chosen to 'close up... move... start fresh' BUT I did not have children so it is far more important to really see absolutely everything before you make any decisions.

              I did it.. and if everything is in line and good, I think you can too. You know that owning a salon is going to be long hours and a good deal of hard work, it may be a while before you can feel 'settled' but if you are really determined to make the choice to better all your lives I personally feel it could be possibly the best thing for your kids to see! You will be showing them that hard work pays off with pride, self sufficiency and reaching your goals!


              • #8
                If you find a shop that you can go into with a good clientle and a VERY good area, maybe room for retail then go for it.
                I would make sure I had enough money to support you and your kids for awhile, just in case.
                I have 3 kids, but my husband could support us if need be, I work for our extra $ his $ would just cover house, bills etc...
                I would deffintly move to better my kids especially if the schools were better, but we have too much built into Vegas.
                Even though I am always up for an adventure, somthing SO big needs a back up just in case.
                GOOD LUCK and HAVE FUN!!!!!!
                If you sweat the small stuff, all you have is small soggy stuff.....


                • #9
                  You have a lot of thinking to do, but I really recommend buying a shop with a good clientele base and equipment. You get up and running faster with immediate income. Couple of lessons I learned: 1.) if the prices are low, raise them, you will lose some customers, but you will lose some any way with a change in ownership. 2.) don't try to immitate the work of the previous owner. It will affect your grooming for the worse and you will find that some owners will like your style better. Good luck on your decision.