Wednesday, February 18, 2009

Business Ventures...nothin new here

So I have been doing some thinking over the past months and have been slowly and in between my free time and busy life, working opening a salon/barber shop in Champaign sometime now. The initial reasoning was because there isn't really a good place to get your hair done or get a hair cut in town and I remember how difficult it was to find a good place that wouldn't fuck my hair up back freshman year. Never found one hence why I grew my hair out in the first place and why I get two hair cuts a year since I have to drive back to Chicago every 6 months to get it. Anyway I figure this might be the solution for me to get some profits into my life without having to put to much time into it because I am going to be focusing too much on school and the club shit. I need something that I can work about 10 hours a week and not have to really devote much attention to. I have an appointment this Thursday to see a building that I have been watching for about a year now (I wish I could buy that shit too bad the owner would never sell..bitch) and I think this building will be a perfect location for my shop and also a 2500 sq. ft. flex space that I might use to throw some little events throughout the year. The lease rate is probably the most important factor because if it exceeds 85,000 a year then this venture wouldn't work with that property.

Once I get the information I can begin to work out a expense budget and estimated start-up cost budget, as well as proposed renovations to get the building up to my standards and design. Based on my numbers so far I will have 8 stylists, 4 manicurists/pedicurists, 6 braiders, and 6 barbers. I want to have the very best in the city so I am definitely going to have to start talking to everyone I know to find out who is the best, and then start recruiting...aka jacking people lol. I plan to have a website created for the salon that details each worker, online scheduling, and personal email addresses for each of them. I need to figure out what products I want to sell as well because that's an additional way to generate more profits, so everything from hair care products, facial and skin products, to even refreshments. I think it will be essential to have a lead person in each area, who will have a the cheapest booth fee but will have the higher responsibility to make sure the area is clean and other shit. All of my people will have a key to shop so they will be able to work when it works best for them and their clients, this will be vital to creating the niche and flexibility that will attract workers. I think the best scenario would be to separate the women's section from the men's by the 1st and 2nd floor, that way they can truly at ease and comfortable.

I will need to holla at my financial advisor on some of the tax issues that I am concerned about (SHANA YOU READING THIS??!! lol) because I want to make sure that I get the most out of my money. Depending on the budget, timing, and feasibility I might be looking towards starting this project relatively within the next 3 months, primarily due to it not being that heavy of a overhead and once its done work can start immediately. The other good thing about this location is that with flex space idea I am having for the second floor it will provide a nice transition from the clubs/bars to our shit to our own club. In addition to this it will generate a little extra income that is always a big plus in my eyes, as well as providing something new and different to add to the nightlife. I need to check into the legal issues that I may or may not have with having the space and the inclusion of alcohol into the atmosphere. I am going to need to find some goons for security as well since I can't have any altercations in my place of business, that's just tacky lol. Plus it will be a fun after hours spot for me and my peoples I might just build a little bar in the mf'er. I need to maximize the potential profit out of the entire building, so by utilizing all the space for the shop and then having this flex space I think I will definitely hit this goal. Stay tuned to the pictures from the building showing Thursday.

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