new business please help as new to this!

[ruthxxx]

Hi
My hubby and I are looking to set our son up with a small hair salon in Leicestershire but not sure how to find premises etc

Any advice about this venture would be massively appreciated

THANKS

 

[14A]

Hi Ruth and welcome.

Your post sounds rather naieve if I'm honest so please please please make sure you have researched EVERYTHING several times over.

Without giving a lecture i'll move swiftly on - If you are seeking premisis, the easiest way would be to contact your local estate agents and/or rightmove.co.uk and see what high street commercial buildings they have to let/buy.

You should have a 'proper' think about this though because the cheap and cheerful may be in a bad area or quite area and the high streets shops may price you out the game - Who will come out of their way to you? Will you relie mainly on passing trade?

 

[arfurd]

Try Right Move

 

[vvaannmmaann]

Obvious question.Is your boy fully trained,qualified and experienced in the business?

There are several available.
http://uk.businessesforsale.com/uk/...rofitFrom=&profitTo=&turnoverFrom=&turnoverTo=

 

[sellickbhoy]

Hi
My hubby and I are looking to set our son up with a small hair salon in Leicestershire but not sure how to find premises etc

Any advice about this venture would be massively appreciated

THANKS

let your son do the work

Tell him to go find premises, draw up a business plan, show you his marketing plans, explain the market/customers he is targetting, do an analysis of other businesses in the area and explain how/why his is better.

before parting with the cash, make sure you know how and when you are getting it back and how much (if anything) you are charging him for the loan.

Make sure you have complete access to the figures as well - make sure he simply isn't spending YOUR money and with little to show in return for it. (unless of course you are happy to hand over the money and never expect to see it back - but you should set the expectations that you want it repaid in order to ensure he tries to hit his business targets)

Once he has laid all this out to you - come back to us and tell us his plans - then we'll tell you what we think of his plan to spend your money and if it's viable or not.

 

[ruthxxx]

Thanks for the reply
We have given it a lot of thought and my son has a lot of clients who will follow him.
I intend to be very involved on the marketing side as I dont think passing trade really works with hairdressing
I have looked at several estate agent sites online but not a lot listed really so a bit stumped where to try next

 

[ruthxxx]

Haha I like your style

I dont intend to hand any cash over as I want more involvement than that and would be working in the salon with him

 

[arfurd]

Ruth,

As well as speaking with Estate Agents, have a word with some of your local firms as they may also own offices/buildings that they let.

Good Luck with the salon. Had any quotes on a website yet?

 

[vvaannmmaann]

Thanks for the reply
We have given it a lot of thought and my son has a lot of clients who will follow him.
I intend to be very involved on the marketing side as I dont think passing trade really works with hairdressing
I have looked at several estate agent sites online but not a lot listed really so a bit stumped where to try next

Did you see the link I posted for you?

 

[trev82]

Hi ruth
what area are you looking as im about to 5-10min break ill have a look to see if i can help in anyway
trev

 

[ruthxxx]

Thanks so much, Leicestershire, North if poss

 

[ruthxxx]

thanks for the link but we want to rent

 

[Drpepper]

www.shopproperty.co.uk has pretty much 90% of vacant shops on their lists.

 

[trev82]

heres 1
http://www.leicesterpropertygazette.co.uk/to-rent/details/34aa39fd0d1d4f779987f9f3d51bab0b

 

[ruthxxx]

Thanks Trev, I have seen that one but it is in an area where mainly carribean/asian people live so they would not use an english salon

 

[trev82]

I fully understand ruth. Unfortunately their are plenty for sale but hardly any for rent.
Have you considered buying business with a lease hold ?
the only other 2 options i can think off 1 start him off mobile until a property comes available or 2 (my lady, mum and nan used a lady who did this) Convert a room in your/or rented property and start their.

 

[rp84]

Hi Ruth

I am from Leicester, Have you though about Oadby Village, theres a few which have opened recently, which means people do actually go there for haircuts. Also waitrose has just opened around the corner and sainsburys and asda are having refurbs. Oadby looks like its doing well at the moment.

 

[ruthxxx]

Oadby would be great if we could find a rental property

 

[trev82]

another 1
http://www.findaproperty.com/displayprop.aspx?edid=04&salerent=1&pid=7298131
maybe another
http://www.findaproperty.com/displayprop.aspx?edid=04&salerent=1&pid=4396122

 

[rp84]

Have a look on here
http://www.andash.co.uk


Just recently a nice shop was empty for a while, corner unit. However its now a baby shop.

Best thing to do is take a drive through oadby and see what what there is

 

[ccp consultancy]

How old is your son - some councils are offering grants to small businesses who are wishing to start up - but would need a full business plan etc

 

[ruthxxx]

thanks, he is 25

 

[arfurd]

Will you have spaces in there to rent out to other hair stylists or will you take on staff and pay them a wage?

 

[Stuart Bailey]

Property:

There are plenty of ways in which you can find a property.

1. contact all the local commercial surveyors and tell them your requirements.
2. contact the local authority economic development officer. They have lists of properties available for rent but will also give you information about grants
3. just drive around if you see a vacant building contact the agent or landlord direct.
4. make sure you instruct a solicitor (preferably me) to check the terms of the lease for you.

Grants

1. contact the council above
2. contact business link they will be able to tell you what grants are available.

Finally has your son considered buying into his employees business ie become a partner / or even buy him out completely?

regards Stuart Bailey

 

[ruthxxx]

thanks for the good advice Stuart

His employer has just retired and her son is now running the business but it is a massive salon so would cost too much.

I appreciate the comments though

 

[Brisheff]

Hello Ruth,

Finding premises can be a hell of a job, it's more harder than actually starting up a company.

For a start-off have you considered allowing your son to "Work Fom Home?" I know a lot of hair dressers who work in their front room.

If that's not feasible then how about your son going to the homes of his customers. A lot of hair dressers are doing that now as it cuts out the expense of renting or buying premises.

 

[patientlady]

There may be trouble ahead!
Sorry Ruth but I do hope you have a totally amazing and different relationship with your son than most mothers have with there 25 year olds! My daughter would not let me tell her what to do under any circumstances! , and we get on great...
Good luck with this venture

 

[ruthxxx]

haha, I know what you mean but we get on great, he wants me to run it with him and work reception etc

His clients enjoy the full salon experience and pamper experience so home work is a no go

thanks though

 

[The Fixer]

Hi Ruth. You can google 'commercial premises ...your town/county' and will get some results. Before you go ahead though you really do need a proper plan. Critical will be to calculate all running costs including rent/rates, wages and all other running costs, plus the income your son/you require - don't miss anything out. Then calculate realistically what gross margin you can expect to achieve, and from this work out what annual gross sales you must generate. Your son will have an idea of the average spend per customer and from this calculate how many customers you need each year, week and thus each day. The have a long hard think about whether this is really likely.