Opening in June in a suburb of Houston, Texas. Closest competitor is 8.5 miles away. My space will be in a nice retail center along a major thoroughfare. About 90,000 cars pass by each day. Target market includes all neighborhoods, apartment complexes & businesses within a 5 mile radius = about 17,000 people & median
income around $75,000. ETS beds, Eurowalls, spray booth (not sure which one yet), hydration station will all be in salon - 15 beds plus spray booth & hyd. station. This is a business venture my hubby and I are taking on as an investment - along with a womens' gym next door to salon. We currently own our own company in a different industry and pays all our bills and then some. Any profit from salon will be gravy.
Space is expensive because it is all new development - $22 per sq. foot. Starbucks, payless, Super Walmart, Chilis, Loews, Buffalo Wild Wings & more, all going in across the street and around my center. Some of my neighbors in my center are: a huge dentist office, sports bar subway shop and more to come.
We have $$ in the bank, but want to keep it there if possible. Borrowing from our bank - we have an excellent relationship with our banker. They do all of our other business' banking and all of our personal.
Does any of this sound good??? VERY concerned about opening in the middle of June, but on the bright side it will give me ample time to market the salon before January/February.
HEEEEEELP - need some candid advice from you guys. Cup half full....or half empty??