I’m a real estate investor, and I’m seeking funding for my next business concept which is Salon Suites. It’s not a salon. It’s a collection of “mini salons” in a commercial space. Each suite is leased by beauty and health & wellness entrepreneur tenants/professionals who are hair stylists, barbers, tattoo artists, lash techs, massage therapists, etc. It’s like a “co-working” space, but they pay a monthly fee to rent a private “mini salon” suite instead of conventional booth/chair rentals.
The target audience is beauty and health & wellness entrepreneur professionals who no longer want to rent a booth/chair and work for commissions, but want to launch their brand and business, but are not ready to invest in a full salon. This business model will help beauty/wellness professionals increase their income by providing an opportunity to keep all their profits and build their brand. Measured by revenue, the Hair Salons industry is at $48.3 billion in 2022. This is expected to increase 7.1% in 2022. I will be able to make approx $3000 profit per month after expenses.
I’m currently in talks with a landlord, and I’ve airmarked a space around 1700sqft, where I’ll be able to get about 6 - 8 suites for the concept. I’m looking at about $4000 per month rent, with a 5 year lease. I need about $250k - $300k. The funds would be used to cover buildout expenses and pre/post launch marketing campaigns. I’m passionate about this business concept because it gives me an opportunity to provide luxury beauty/wellness services in an atmosphere of excellent customer service to the community and provide an Avenue for beauty/wellness entrepreneurs to build their brand and business and fulfill their dreams!
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