As a barber or salon artist, you may be working with a rental chair or booth, but now you may be thinking to grow big & become more independent. The right way to grow is through salon suite rental. The salon suite rental is now becoming more & more popular for barbers who have some money to invest. But the main thing that comes to one's mind is how much does it cost to rent a salon suite?
Actually, the salon suite rental in the USA costs between $250 to $500 per week. The salon suite prices vary in this price range depending on the suite size, location & the brand you're renting your salon suite from, like Phenix or Sola, etc. Read More for more information:
How much does it cost to rent a salon suite in starting?
As mentioned earlier, the salon suite rental for a week can cost between $250 to $500, & prices can even vary depending on the size of the suite, location, and the brand of the franchise.
Apart from this, many other expenses are linked with salon suite rental. For example, if you pay the suite rent weekly, you will have to deposit 2 or 4 weeks' rent in advance.
In case of monthly rent payment, your salon suite renter may ask for the first & last month's rent in advance & even to deposit some amount for security.
So in starting, you may need to pay around $1000 in advance. Moreover, the cost of setting a salon is all yours. It costs around $1200 for furniture, equipment & supplies.
So renting a salon suite in starting will cost around $2000 to $2500.
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How much does it cost to rent a sola salon suite?
Sola, the salon brand, has more than 200 plus locations & around 500 employees working under it. The cost of a Sola salon suite is $300 per week & plus; you need to pay a two-week deposit in advance.
They will provide you with a license, but you have to bear the insurance cost every year. Apart from this, all other costs will be on you.
Sola will just provide the space & its name for the business in lieu of $300 weekly rent.
How much does it cost to rent a Phenix salon suite?
Phenix is one of the biggest salon suites & franchise providing salon brands. It has more than 230 locations in the whole USA & it has been serving its customers for more than 85 years.
The cost to rent a Phenix salon suite is between $300 to $500 per week & all other costs will be on you.
However, if you want to get their franchise, you will need a hefty amount between $300,925 and $1,380,050. In the franchise, you will be provided with everything from equipment to layout to space to even workforce.
So, it's on you whether to go for a more economical salon suite or a salon franchise of Phenix.
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What are the pros & cons of renting a salon suite business?
The renting of salon suites is in trend in the USA. However, this business model has both positive sides & negative sides. Let's have a look at them:
Pros of Renting a salon suite:
- You can control how the salon will look.
- Their no boss above you & you are the bosses.
- You can provide any kind of salon service you want.
- You can make your own customer base.
- You can sell products.
- You make more profit than the chair or booth rental.
Cons of Renting a salon suite:
- The salon suite renting is costlier.
- You have to find your customer base & work to retain them.
- There is the burden of running your own business & then even paying the rent.
- Customer does not come frequently, so that regular client numbers can be less.
Overall, the salon suite renting is an excellent idea if you are good at doing business.
This was all about salon suite renting costs & their pros & cons. We hope you found this article helpful & informative. Let us know your thoughts & suggestions about this article in the comments below.
Thank you for reading!