Friday, November 18, 2022

How Much Does It Cost To Rent Sola Salon

Sola Salon: A Different Way To Run A Hair Studio

Sola salons 3 month update

by AllSalonPrices Team | Mar 7, 2019 | Hair Salons |

If youve ever had a hair stylist you liked in an overpriced or disorganized salon, there is a new studio concept that may be for you.

A Sola Salon consists of several smaller salon spaces in one large retail space. Each space is owned and run by a different stylist. Instead of waiting for your stylist in a large open space with clients waiting for other hairdressers, you see in your stylist in a separate space with an entrance.

The stylist pays rent for the business space, instead of for a chair in a salon owned by someone else.

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 months 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.

Read Also this: how to open a hair salon

Questions To Ask Yourself That Will Impact The Cost Of Opening Your Salon

There are many different things that can and will impact the cost of starting your salon and you will have to take several decisions over the coming weeks and months that ultimately determine the cost.

Before you embark on this, there are a few questions that I believe are important for you to consider as the answers to those questions will help guide decisions that will influence the cost.

Read Also: How To Become A Sole Proprietor In Illinois

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.

Sola Salon: 25 Salons In One Place A Boon For Independent Stylists

How Much Does it Cost to Rent a Film Studio?

Some people thrive on the hustle-bustle of a salon setting, the occasionally boisterous conversations and the energetic interaction between customers and stylists.

Others, not so much.

“This is my speed, for sure here, its all about the hair, said Sarah Carpenter, standing in her cozy upstairs corner salon overlooking Pack Square Park. “So much drama in that other scenario. Im about the hair, all about the good hair.

For her, the perfect spot for a salon was tucked inside Sola Salon Studios on College Street. Located on the renovated second floor of a 1920s red brick building, Sola is actually home to 25 individual salon spaces.

The concept allows stylists like Carpenter who want to own their own business but may lack the capital to build or buy a salon to run their own show. Sola opened two years ago and is about 75 percent full, said owner Elizabeth Mailander.

The operation now includes 20 individual businesses, nearly all hair styling salons and almost all women, but it also includes an esthetician and a massage therapist. The tenants own their businesses but pay weekly rent to Mailander, whose company provides the chairs, cabinets, running water, heating and air conditioning, and common bathrooms and a laundry room. She in turn pays franchise fees to Colorado-based Sola.

The idea, Mailander said, is to take the headache out of business ownership.

Salon owners can decorate the spaces, many of which have exposed brick, to their liking.

Don’t Miss: Can I Install Solar Panels In My Backyard

Sola Salon Rental Prices

The initial rental price of a Sola Salon Suite is around $ 300 per week, and you need a 2-week deposit before you go inside.

They pay your salon license for you, but you will need to renew your insurance manually at the beginning of each year.

Then you have to consider the hidden costs and laundry, supplies, accountant and credit card fees, phone bills and of course, dont forget to set aside money for taxes.

Knowing When To Take The Next Step

Often, running your own business means that youre looking to grow and expand.

You already have an entrepreneurial spirit, so it makes sense that youd only hope to run a successful business with the hopes of expanding.

Because of that, its important to know when you should change your location and when you should add staff.

If youve developed a client base that you simply cannot fit into your salon suite space location, its time to start looking around for a bigger suite to rent if that doesnt seem like a possibility, you might want to take the next step and either rent an entire building for your salon, or purchase your own building for your salon.

Another key point to examine within your business is when to add staff to work for you. If you notice that your clientele has expanded so much that youre having to turn people away, it might be time to start adding staff to work with you.

The last thing you want is to turn clients away, especially when they cant get enough of your talent. If this sounds like an issue youre dealing with, start considering candidates who could partner with you in your salon space.

Overall, dont be afraid to let your business grow!

You set off on your own for a reason, and you never want to stifle your creativity, progress, or success as a professional.

Dont let change scare you!

You May Like: Does Pine Sol Kill Germs

How In Demand Is Sola Salon Studios Services Right Now

The global beauty sector is extremely large and is largely recession-proof. Sola® allows the top stylists and salon professionals to own and operate their own business with the customers and hours they want. Since Sola® founded this sector in the US in 2004, it has opened 500 units across the US, Canada and Brazil. There is a huge demand by salon professionals for a high-quality place for them to own and operate their own businesses.

This Is A Factor That You Absolutely Need To Consider And Work Into Your Financial Planning

OPENING SOLA SALON SUITE DURING A PANDEMIC | NOT CRAZY AT ALL

While there might be tax deductions at the end of the year that relieve the burden of some of these fees, youll need to be prepared to pay renewal fees on your insurances and your business and professional licenses.

Its important that you do this on time, every time, as your business cannot legally function without renewals on your licenses and insurance.

Make sure youre working these fees and dates into both your financial planning and scheduling for the year.

Finances

Your finances are going to be one of the biggest responsibilities that you take on when you rent your own space and start your own business.

That means youll need to consider expenses you didnt have to previously, set an appropriate pricing regimen, and ensure that youre not just making ends meet, youre eventually turning a profit.

Handling your finances is going to include a lot of tracking, a lot of calculation, and a lot of running your own books.

When you own your own business and rent from a landlord at the same time, theres a lot to consider.

Financially speaking, youll need to maintain your own set of books, pay your own taxes, and set aside the cost of overhead, rent, and products you purchase for inventory.

Youll also need to include finances for your own marketing, tools, and related supplies, as well as setting accurate prices and collecting payment from your clients for the services performed.

We suggest working with a CPA to get in the know as quick as possible.

Inventory

Read Also: Can You Clean Solar Panels

What Are Sola Salons

Sola Salon focuses on whats best for you, so you can focus on whats best for your business.

They need beauty professionals with the support and equipment with the highest, fully equipped salon studio they need to launch their salon business on time.

They pride themselves on being the largest, fastest-growing salon studio business in the country. At their core, they believe in a beauty professional and have one goal in mind.

Sola Salon Prices And Services

Sola Salon provides clientele with top-notch services. Sola Salon decides to go with the approach of giving you your own salon space sans the typical risks of traditional salon ownership. With this sort of business, they manage to house experienced aestheticians, nail stylists, massage therapists, hairdressers, and other salon professionals under one roof.

View the latest estimated Sola Salon prices and services below.

Also Check: Why Solar Is Not Worth It

What Is Sola Salon Studios Looking For In Its Franchisees

The Sola® Salon Studios country master franchise will be from one of the following groups: restaurant developers and operators with real estate experience, hospitality or customer service-based businesses, existing master franchisees, franchisors or multi-unit franchisees, real estate and property development and management businesses, or commercial and residential decoration and fit-out groups.

More Freedom Makes Stylists Happier

Sola Salon Studios Franchise for Sale

Photo credit to Forbes

Stylists at a Las Vegas location personalize their spaces and do some of their own decorating, molding the ceilings, and painting the space any other color they like. The salon suites let manicurists, masseuses, and waxing specialists rent spaces, so every location has a variety of beauty services available from different providers.

A Boston Globe article highlights the experiences of an immigrant from Nigeria, who once worked in a traditional studio, but now loves the creativity and freedom he gets from working in his own studio.

A stylist contacts clients directly if he or she needs to reschedule or cancel an appointment due to an emergency. This approach is much more personal than if an intermediary does it

All locations have an overall manager to receive rent and make sure the building and studios are maintained properly. Each stylist is responsible for decorating and maintaining their studios, advertising for and retaining clients, learning new styling techniques, setting appointments and managing websites and social media pages.

Stylists can contact their closest location about studio rates, and individuals interested in opening franchises can email the company or fill out their website contact form.

Don’t Miss: Is Solar Power Cost Effective

Taking The Next Step In Your Career

When it comes to running your own business in your rented space, its important to remember that the key to your success is avoiding staying stagnant.

You want to continuously improve, provide a better experience for your clientele, and be the best professional in your industry that you can be.

Sometimes, that means continuing your education through an accredited school or gaining specific certifications.

Heres A Quick List Of Tasks And Items You Should Focus On In The First Few Weeks Of Your New #solaboss Life

Lean Into Sola Tools

  • Download the Sola Pro app to get access to exclusive product deals, education, perks and more.
  • Sign up for SolaGenius our cutting-edge, all-in-one salon management app designed to help you run your Sola like a BOSS!
  • Create your Sola webpage. The Sola website gets over one million visitors per month! Many of these people are looking for a new beauty professional to book an appointment with. Using the Sola Pro app, you can easily update your own Sola webpage with beautiful pictures, a robust bio, hours and a booking link. And the best part? It’s free to all Sola professionals! At Sola, we’ve made it easy to increase your online presence and keep your books full.
  • Visit the Sola Blog to find marketing ideas, tips and success stories from other Sola owners.
  • Subscribe to the Sola Stories Podcast. Whether you’re looking for a marketing quick tip, advice from a fellow Sola professional or inspiration from some of our industry’s thought-leaders, to the Sola Stories Podcast for your on-the-go inspo!
  • Take the initiative to walk around and meet the other Sola pros in your location This is not only a great way to cross-promote your business to attract new customers, but to also get to know your amazing Sola community!

Protect Yourself + Your Business

Now, you may be tempted to run to IKEA, HomeGoods, or Target and start picking out some décor . But first and foremost, lets get all the important business stuff taken care of.

Create Your Culture

Build Your Brand

You May Like: What Does Solar Energy Mean

Marketing Expenses To Build Your Salon Clientele

If youre opening a new salon, you need to make it a priority to attract new clients. In the beginning, very few people will know that you even exist unless you invest in your marketing.

How much you should budget for marketing is really up to you. There are many ways that you can market your salon and the most cost-effective ways are typically using digital marketing strategies.

There are also many free ways you can promote your salon yourself. To give you some ideas, Ive put together a complete list of salon marketing ideas that I recommend you check out.

Where Do You See Your Salon In 5

Own a Franchise That Fits Your Life, Your Style®

Try to create an as vivid picture as possible in your mind about where you and your salon business 5-10 years from now.

What does your salon look like? Who are you working with? Whats your clients like? What does it feel like to be there?

This does not mean that what youre imagining is where you should start your business. However, having a vivid picture in your mind of where you eventually will be will help guide you, even if subconsciously, in many decisions along the way to get there.

Also Check: How To Open A Solar Panel Business

Cost For Starting A Salon From Scratch

Starting a salon from scratch by renting a new space and turning it into a salon comes with benefits.

You have more options of location on the market to choose from and you will be able to build the salon up exactly the way you want without worrying about the image and reputation of the previous salon.

The drawback of building out a new salon from scratch is that you will need to invest substantial money up front to turn it into a salon with renovation and new equipment.

No one will know about the salon either so you will need to be prepared to do some marketing in the beginning to establish the salon in the neighbourhood.

The cost for opening a salon from scratch starts at $90000 assuming you will rent the location. Below is a break down of the cost.

WHAT
$89 500

How Important Is A Social Life With Colleagues To You

Being surrounded by colleagues is very important to some people. I have seen businesses fail because the founder started the business alone and the only social interaction was with the clients.

If you know that you are a person that gets your energy from working and socializing with other people, I would strongly encourage you to find a format for your salon that will allow for this. On the other hand, if you get energy from working on your business alone, you should consider the opposite.

Also Check: What Age To Introduce Solid Foods

Cost For Taking Over An Existing Salon

Taking over an existing salon will minimize major renovation interventions on the property as it is already built out to support salon operations.

You will also get the salon equipment you need to get going from day one. And, more importantly, by taking over an existing salon youll also benefit from the existing clientele built up by the previous owners. However, if you buy the full salon with operations as it runs today you will, of course, want to make sure the style of the salon and its clientele is in line with the type of salon you want to run and also the current trends.

The cost for taking over an existing salon starts at $62000 and assumes you rent the location with the below upfront investments.

WHAT
TOTAL $62 000

The cost can be significantly higher if you buy a salon with a well-established brand that is has proven to be profitable today.

How Much Does A Sola Salon Studios Franchise Cost

Meet The Hair Salon Franchise That Turns Stylists Into ...

There is an investment level of £575,000 for an exclusive country master franchise, to be paid upon signing of the master franchise agreement. The minimum investment is £1,000,000 for the initial one-time country master franchise fee and for the build out of the first Sola® studio in the country.

Unit opening fee: There is no fee for the first unit opened in the territory. There is a 30 per cent local unit franchise fee or a minimum of £2,500 per unit for additional units opened and operated by the master franchisee.

The advertising fee is 3 per cent of the gross turnover of all units in the territory that is to be spent by the master franchisee in their territory, while there is a royalty fee of 6 per cent on company-owned units, while 30 per cent of the royalty charged to franchised units is paid to the franchisor.

A percentage of each unit franchise fee paid to the country master franchisee will be paid to the franchisor.

Commercial space of 4,500 to 9,000 sq. ft. is leased and then build out in ~100 square foot spaces for rent by individual stylists and related service providers. The revenue for a Sola® Salon unit is focused on the occupancy of the spaces rented. In the US, the average occupancy is 89 per cent. The average square feet for a Sola® unit is 5,700 and that results in 25 rentable spaces.

Also Check: How To Get Solar Panels

Popular Articles
Related news