Negotiating a Salon or Spa Lease? Let Summit Salon Business Center be your guide!
Every salon owner is used to wearing many hats, fulfilling a number of diverse roles. They learn most of these skills through trial and error and through repetition. Perhaps one of the skills that owners struggle with most is salon lease negotiation, simply due to a lack of knowledge or experience in this area. Although salon rent payments need to be less than 7 percent of gross sales in order for a salon to be profitable, owners often pay exorbitant amounts and feel powerless to negotiate with landlords. This single budget line item can often make or break the financial success of the salon. Call 1-800-718-5949 to make the first step! READ MORE
Because SSBC strives to equip all of our clients with the tools they need to be successful, we offer a Leasing Service as part of the Financial Services Division. Lynn Chisholm, who has been active in commercial real estate for over 25 years, heads the Lease Services department. Lynn has extensive experience shepherding salon tenants and landlords through lease transactions, and she appreciates the unique needs of the salon industry. With her comprehensive understanding of commercial lease terms, Lynn is able to provide clients with insight, creative solutions, and, ultimately, lease commitments with long-term stability. Her approach is strategic rather than transaction-based, and she aims to create value in the relationship between tenant and landlord.
Many salon owners are at a disadvantage during a lease transaction simply because they have never had the opportunity to learn this particular skill.
Here are Lynn Chisholm’s top ten points of negotiation for a salon lease transaction:
- Net Rent
- Personal Guarantees
- Relocation Clauses
- Extensions and Renewals
- Assignment and Sublet
- Exclusive or Restrictive Covenants
- Landlord and Tenants Work
- Radius Restrictions
- Termination and Continuous Operating
Fees for our lease services are listed below. In Lynn’s experience, the amount each salon owner saves by working with her to avoid the potential pitfalls of an uninformed negotiation is often far greater than the actual consulting fee. As part of her services, Lynn reviews the salon lease agreement with an expert eye, providing the salon owner with all the necessary information to make prudent financial decisions. With Lynn’s knowledge and know-how, salon owners are able to make wise choices about the future of their salon with confidence.
Although owning a business can be infinitely complicated, SSBC provides salon owners with the support they need to succeed. By offering a salon-specific Lease Services consultation, SSBC has added one more viable tool to empower the independent salon owner to continue to grow!
- New Lease Review: $1495.00
- Lease Renewal – New Landlord/Lease: $1495.00
- Lease Renewal – Existing Landlord/Lease: $995.00
- Summary of Lease Terms: $495.00
Call 1-800-718-5949 to get started!