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Old 10-02-2005, 11:50 AM   #27 (permalink)
sunsally
www.highlinecapital.com
 
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If YOU are a hair stylist or nail tech or both and YOU plan on opening this salon so YOU can build hair/nail clientele and the tanning beds are just "extra" income -- that's one thing and might make sense.

If you are going at this like an "entrepreneur" who thinks you will be able to "find" hair stylists to pay you $125/week and $70/week and then YOU are going to take on the entire RISK for that, as well as however much you can make off the tanning - everyone has right to be concerned for you!

Rent - $950/mo or about $12K/yr.
Payroll - even if you aren't "paying" yourself, should at least figure a $7/hr min wage = $25K
Utilities, phone, water, gas, internet (?) - $6K
Advertising - $12K (minimum)
Supplies/lamps/maint - $12K

Etc, etc.

As mentioned, nail techs (especially) and hair stylists are notoriously hard to find and keep. It takes them awhile to build a clientele, and they may not be able to pay $500/mo when they are only seeing a few folks a day initially. But if they leave, trying to attract people to your 3 bed "salon" and making it on that $$ alone - impossible!

The numbers dwhite quoted are industry figures and nothing in your set-up has you poised to do better. I'd abandon the idea unless you make changes or are prepared to barely break even or lose money.
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