Start a Salon - Key Capital Costs

by:Canway     2020-06-07
When launching a salon business, plan carefully for the purchases and investments you'll have to make before you launch. These start-up costs, along with your pre-launch marketing and the working capital you need to cover cash flow shortfalls until you break-even, let you know how much money you'll need to raise. The key capital costs for a salon generally fall into these three categories: Build-Out of Salon Space The space you lease for your salon will probably come as a raw space in need of renovation, finishing, and conversion into your intended business. To do so, you will probably need to hire an architect, designer, plumber, electrician, HVAC specialist, and general contractors. All of the work you put into the space are called leasehold improvements - work which increases the value of the space to the leaseholder. Some of these improvements, such as affixed tables, counters, and mirrors, can be removed at some cost if you close the business or change spaces, but the value of much of this work is lost if the business closes. Furniture and Equipment Movable furniture and equipment must be purchased to prepare the salon for occupancy. This can include chairs for customers undergoing skin, hair, or nail services, waiting room furniture, computers and all of the tools of the trade. Start by researching the costs of the items you expect to be most expensive and then work your way down to the less expensive. This will help you get the best overall idea of the furniture and equipment cost as quickly as possible. Software To manage the business, schedule appointments, track inventory, and process sales transactions, your salon will probably need software. When choosing software, stick to vendors that have a track record and provide technical support for customers in case there are problems. Software can either be purchased outright or be used in a hosted format. This means that the software exists on the vendor's server and is accessed entirely through the internet. While purchasing management software outright usually means a higher up-front fee as well as ongoing service charges, hosted software usually requires just an ongoing subscription fee with a negligible set-up charge, if any.
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