Finding The Perfect Location For Your Beauty Business
If you’ve been reading my ‘get set and go’ guide to launching your own business over the last few weeks, you’ll be pleased to know that we can now move on to the fun stuff…
Previously, I’ve written about business plans (read that again here) and securing finance (read that one here), so now it’s time to start making it all come to life.
It’s time to find some premises.
Unless you are working mobile or from home, your premises are vital to your success and needs to be well considered before you can start making your dreams come true.
Here are some essential tips to find that perfect space:
Have a good wander around your chosen area and look for empty spaces. Mark them on a map, take photos and note the agent that is taking care of the leasing.
For each location, consider the following:
– Footfall – how many people walk past?
– How busy is the road?
– Are there other businesses in the area likely to attract your clientele?
– Is there any major competition nearby?
– Is there ample free parking?
– How big is the building?
They didn’t call the TV show ‘Location, Location, Location’ for nothing. It’s very important that the location is right for your business – don’t be ‘sold’ because the agent wants his commission!
Once you’ve identified a few sites that might be suitable, contact agents and ask for more details on prices and leasing. Also ask how long the premises has been available for and why it is empty.
Narrow down the suitable premises that offer the right leasing terms and conditions. Don’t view the sparkly brand new unit in the new shopping centre if it is five times over budget – you need to work with what is achievable. If it’s a little over budget, it may be worth a look if you are comfortable negotiating.
4. Get creative!
Use your imagination in each premises. Can you see your business here? A buzzing business with an overflowing till and a crammed diary is the aim of the game and if you can’t see your target market coming to this part of town or coming somewhere with no parking – forget it.
5. Pros and cons
Write the pros and cons of each site to help you assess what one is best for you. It’s best to take along an honest, rational person to give you their opinion.
I’m a very excitable person and I’m easily carried away but my Dad always kept my feet on the ground and would look at both sides of the coin and he probably stopped me making a number of mistakes! If you can, take someone similar. (My Dad’s rates available on request!).
6. Take your time
Keep in mind that once you’ve chosen your premises, you’ll need to spend money decorating it and kitting it out. There may even be building work required. With such a big investment from you, so you need to be sure the premises is just right.
Ok, so you’ve found your perfect location and taken into account the points above. Now it’s time to negotiate or get someone to help you to. Agents and landlords will expect you to barter them down so play with the terms to suit you better.
Remember I said to ask how long the premises had been empty? This is where that little nugget of knowledge will be gold. An empty space creates no income for the landlord – they will choose to rent it at a lower price than not at all and if the premises have been empty for some time they will be keen to start generating money from it. This is your trump card!
You’re an entrepreneur, so even a small saving on the rent can make a difference at the end of each month and can mean extra money for your business. Who would you rather had those precious pounds – you or the landlord?
8. Take it with a pinch of salt!
Agents work on commission and are generally great sales people. They’ll probably tell you there’s lots of interest and try to get you to sign on the dotted line. They could be being upfront – but they may be exaggerating!
Follow these tips and you’ll end up with a fab premises perfect for your business and at the right price.
This is adapted from my weekly blog for the UK’s leading nail magazine, Scratch. You can read the original article here if you wish.