Many who work in the beauty industry dream about one day opening their very own spray tanning salon. For those who are truly motivated to turn their dreams into a reality, it is necessary to understand the actual costs associated with opening and running the salon. By understanding the costs related to running a salon, you will be able to determine how much up-front funding you will need to get your new business operational.
The Cost of Real Estate
One of the most significant up-front and on-going costs related to opening and running a beauty salon relates to the cost of the real estate. Many will choose to rent a space, and this requires you to pay for the initial deposit and often first and last month’s rent. If you choose to buy property, you will need to pay for the down payment and go through the mortgage process before you can open your business. Keep in mind that the cost of real estate for both buying and renting space will vary by location. Even inside the same metropolitan area, the cost of real estate can vary based on which area of town you are in. It is wise to research this expense in greater detail with a real estate professional.
Outfitting the Facility
After you have purchased or leased your space for a beauty salon, you will then need to outfit the facility. For example, you may need to invest in pedicure chairs, manicure stations, hair styling stations and other features. A waiting area, the bathroom, the reservation and checkout area also will need to be outfitted. Technology, telecommunications services and décor are also important factors to consider. When estimating the cost for this, you could reasonably expect to pay between approximately $60 to as much as $300 per square feet to outfit your space depending on how elaborate and sophisticated the studio design will be.
Staff and Supplies
After you have a fully outfitted facility, you will still need to invest in supplies and hire staff members. Supplies may include spray tan machines, tanning solutions, disposables and other spray tanning equipment. The pay structure for your staff can vary. Some will have a booth rental model, and each spray tanning technician may each pay you money to rent a booth for the month. Others may be purely hourly or salaried professionals who also may get tips. The pay scale may vary by location.
A final cost to consider relates to marketing. You want to draw attention to your new business and bring customers to your door starting on opening day. There are many ways to market, and some can be more cost-effective than others. For example, if your facility is located on a busy street or sidewalk, simply placing signage announcing your opening and marketing your website link is a great idea. You may also need to use flyers, radio and TV ads and other efforts to get a great response from your target audience.
The cost to open a spray tanning salon can vary from location to location and based on the type of salon that you want to open. It is wise to research each of these types of costs in greater detail and to develop a full business plan. This initial effort is an important first step to take when opening a salon.