Considering my options

[Joods]

I like the place, but I'm a bit skeptical on the profitability on that investment. Personally, I don't visit salons often unless there's a major event coming up, so I lack the experience but having been part of several start-ups in my career, I'd suggest analyzing the market very carefully first, and always have a backup plan if things don't work out.

Thank you Magi. Women like regularity - especially those who like to be pampered on a regular basis. Once they find a hair style they love, and it looks good on them too, if they find a stylist that pulls it off right every time, they tend to be regular clients. I'm also not just about hair cuts and color. I'm going to be offering other services as well. Women who get acrylic nails tend to be regular clients at 4-6 week intervals because they will always need fill-ins at about 4-6 weeks. 

Offering more than one type of service in a salon tends to bring in more business because it's like you can get all of your beauty needs taken care of at one place. Plus I will be carrying retail products as well. People can always stop in to purchase their favorite products there. Incentives are also a plus. Clients will be given a "VIP" card they can use which entitles regular clients to a 10% discount off of retail and every 6th hair cut is free. We will keep track of that and any other client information in the computer system. 

We did market analysis during senior classes at school and I will admit that as far as chain salons go - there's more than we need. I can think of three off the top of my head within a two mile radius of my house. They are all located within a half mile of each other: Great Clips, Hair Cuttery and Holiday Hair. None of them offer facials or other skin care. The nearest location to go to for a facial is ten miles north and 15 miles south, which means there is an entire demographical area that is not covered unless they want to drive way out of their way for skin care services. If I'm offering esthetician services in addition to hair care and nail care, clients are more likely to stop and check my place out.

In addition to this -I am 1.4 miles from the high school. Proms and Homecoming are sure to bring in business as well as weddings and other social events.

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Owning my own business seems so scary to me but I admire those that do it sooooo much. I really hope for the best for you with this and know we will be here to support you emotionally the whole time. Keep us updated!

I will definitely keep you updated

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I know this is going to sound super basic...but, how many customers do you -currently- serve?  Do you plan on turning a profit from customers, or from sub-renting space in the building?  In the case of the latter, how many people do you know that are currently looking to rent at a price that you could offer?

Personally, those are the only two things I;d judge -any- infrastructure investment on, if it were me....but I;m super risk adverse.  I like to sell a product before I produce it.  

Replying to your edited post...

Under PA law, chair rental for a cosmetologist is not legal so I would have to actually hire employees, which is why it is important that they come experienced and with a full book. Many private salons require this, so in this particular market, it isn't anything out of the ordinary to state as such in a job ad. 

I'm not a barber, so I cannot rent out a chair. If I was licensed as such AND I had my shop as having a dual license (both barber and cosmetologist) then and only then could I rent out a chair. There are separate requirements for a barber's license that I don't have a desire to go and get. Now if a barber wants to partner with me and co-own the salon, then we could be dually licensed to be both a barber shop and a day spa, but right now, I don't know of anyone in that field who would be interested in such a thing.