Here, we break down the essential overheads for salon businesses, and offer information on how to overcome the challenge of mounting expenses.
Overhead Costs of Running a Successful Hair & Beauty Salon
There is no denying the fact that beauty salons can be a profitable business.
But successful beauty-preneurs have an in-depth knowledge of the services provided and costs involved. Here are some of the biggest overhead costs:
The success of a salon depends on the quality of services provided. This means that there is no cutting back on the talent, ability and attitude of your staff. The payroll is a necessary investment and one of the greatest expenses of a salon.
Beauty supplies, hair styling products and the necessary tools for providing the services are all unavoidable expenses.
However, it is important to search the market for reliable suppliers who offer better terms. Also, since the beauty industry encompasses thousands of businesses, chances are that you will be able to find good products for favorable prices. Just keep looking and keep the inventory well-stocked.
· Salon Equipment
Whether you are a nail tech or a lash expert, chances are that in order to fulfill the needs of your profession, you will need some specialized tools and equipment. Blow dryers, tanning beds, and other gear are a necessary investment, and will take away a huge chuck of your initial set up costs.
· Real Estate
The location of your salon can make a huge difference in how much money you’ll end up coming. However, a high-traffic, exclusive location also brings with a whole host of high overheads i.e. rent, electricity, HVAC, advertising & marketing etc. There are ways around the real estate related overheads. If you are in Atlanta, we can help!
What are Your Options?
Whether yours is a new or expanding salon service, you need reliable sourcing of financing to keep afloat. If you don’t have enough saved up to survive, it might be a good idea to turn towards alternative methods of funding for these overheads.
For starters, learn more about vendor financing to get your equipment or supplies. Work with credible suppliers who will offer favorable credit terms. You can also lease furniture and salon equipment instead of buying it all outright at high costs.
Similarly, you can also lease the salon facilities with us at Beya Salon Studios. Share the building with other hairstylists and beauty artists. All you’ll pay is the lease amount, and we’ll take care of all the additional overheads and bills etc.
Would you like to know how much you’ll end up with in profits when you open your beauty salon with us? Check out this Profit Calculator! Call us at (404) 734-2213 to learn more about starting your beauty salon affordably in Atlanta, GA!