I now want to branch out on my own and get my own and lease my own space. This guy from New York came down and bought a building that is right down the street from where I am currently booth renting %26amp; the area is a little worse off than where I am now. Like most urban cities across the nation, the cities are rebuilding and what was once considered the ghetto or inner cities are now being redveloped and pricy boutiques and condos are being put up
The thing is this, with all this development, the area that I would like to lease space has not been touched, but I see the poetential. The space is located off of a main highway and in a residential area with high traffic. The cost to lease is cheap, but I am caught between a rock and a hard plate....suggestions please.Thinking about opening a nails salon in the inner city.....need opinons!!?
How much money do you want to spend on that business? well this question is beyond suggestion and requires intensive SWOT analysis then a comparison between your current situation and the one you desire.
I dont know anything about nails n hairdos, i have a business background. I will give a simple set of things to compare the two situations.
- How many salon customers after a hairdo want their nails attended to also
- Do your current customers come specifically for you or they are spillovers from the other salon booths
- What benefit will your new location afford your customers
- how many customers per month will you need to break-even ie make no loss or profit
- Research how many nail salons have done well and what is the success factor
- because i believe that there is a relation between shopping and nail care you might need to be in a shopping center etc
- Consider also the benefit of setting up a salon and a nail salon together and hire a hair tech to work for you, this will bring the customer base.
- Talk about it to your current customers to hear their views etc
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