Planning out a salon remodel is slightly different than your standard small business remodeling job. You still have to keep your business operating in order to afford the costs. Here are some of the things that you can do in order to properly budget for your commercial remodeling project as a small business owner.
Determine Finish Requirements
The level of finish that you require will dictate the amount of money that it will cost to complete your salon remodel. For example, you may be able to get away with lower grade or middle grade materials in order to reduce your costs. Another thing to consider is the style of finishes that you want to select. Going with more neutral options can help you to keep costs under control because there will be more materials to select from than something that has to be custom ordered. Consider hiring a design and layout specialist to help you figure out the most cost-effective remodel that will still give your salon style.
One of the best ways to properly budget is to get several quotes so that you can make a true comparison of your options. Use construction estimating services so that you can get a feel for the quotes that you’re receiving. This will give you a baseline in order to determine which construction company is going to work for your needs. Make sure that whoever you select has a contingency budget built into their estimate. This will save you from any nasty surprises at the end of your project.
Get a Loan
Quality treatments and spa equipment can be pricey, particularly when you are just starting out. Furthermore, the ongoing expenses can be too much for some companies. Consider obtaining financing through a spa business loan to help you launch your business with the right amount of capital.
Certain times of the year tend to be more expensive than others to hire for construction labor costs. Select a time of the year that’s in relatively low demand. This is when you can get the best deals because companies are more likely to compete for your business instead of just adding you to their wait list. There are also differences in costs when it comes to hiring union labor versus non-union labor.
It may be too expensive for you to complete everything that you have on your list. Taking a phased approach to your remodeling scheme could help you to manage your budget more effectively. Focusing on one area at a time is one technique in which to keep your costs in-line until you can save up enough money to complete the whole project. Some of your major expenses are going to be electrical, plumbing, and HVAC. However, it may be more cost effective to buy certain equipment, like shampoo bowls and salon chairs together, as you can get better deals by buying sets of equipment. Consider what fits in your budget and make a long-time plan for small remodels to offset costs.
You don’t want to overspend on your remodel because it can leave you struggling to stay in business. Use these tips in order to properly plan for your salon remodel and develop the budget to match.
Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan