{"id":29940,"date":"2018-04-11T18:53:02","date_gmt":"2018-04-11T17:53:02","guid":{"rendered":"https:\/\/phorest-ob-staging.com\/?p=29940"},"modified":"2024-09-04T10:14:04","modified_gmt":"2024-09-04T10:14:04","slug":"buying-an-existing-salon","status":"publish","type":"post","link":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/","title":{"rendered":"What You Need To Know Before Buying An Existing Salon"},"content":{"rendered":"\n<p><span class=\"s1\">If you have even the slightest bit of entrepreneurship in you, it is very likely that there will be a time in your hairdresser, stylist or beauty therapist career where you think:<em> &#8220;Right, it&#8217;s time. I&#8217;m ready to run my salon (or spa!).&#8221; <\/em>From there you might decide that <a href=\"https:\/\/www.phorest.com\/blog\/opening-a-salon\/\" rel=\"noopener\">opening a salon, clinic, or spa is the way you want to go<\/a>, or you might instead consider buying an existing salon, clinic, or spa.&nbsp;While the latter might seem like a good bet, there\u2019s a lot to take into consideration. In my 21 years in business, I\u2019ve seen 90% of business owners overestimate how much their business is worth. So you need to be very careful, even if the said salon, clinic, or spa has been professionally valued.<\/span><\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>Listen to the audio version of this blog, and&nbsp;<a href=\"https:\/\/itunes.apple.com\/ca\/podcast\/the-phorest-blog\/id1182467915?mt=2\" target=\"_blank\" rel=\"noreferrer noopener\">subscribe to the Phorest Blog Podcast here<\/a>:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-spotify wp-block-embed-spotify wp-embed-aspect-21-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Spotify Embed: What You Need to Know Before Buying an Existing Salon\" style=\"border-radius: 12px\" width=\"100%\" height=\"152\" frameborder=\"0\" allowfullscreen allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" loading=\"lazy\" src=\"https:\/\/open.spotify.com\/embed\/episode\/5c1Mio3LmYJerZSgiwqVTi?si=GwTTft0JQeOX7zhUwAXQ2A&#038;utm_source=oembed\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">5 Things To Consider When Buying An Existing Salon, Clinic or Spa<\/h2>\n\n\n\n<p><span class=\"s1\">Just like <a href=\"https:\/\/www.phorest.com\/blog\/expanding-second-location\/\" rel=\"noopener\">when I wrote about expanding with a second location<\/a>, there&#8217;s a myriad of things you need to think about before going ahead and investing your money in an existing business.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"s1\">1. Is It Profitable? <\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Before you buy, get at least the last two years of the business&#8217; account prepared by an accountant. This will help you find out if it\u2019s profitable. If it\u2019s not, then you have to look into why it isn\u2019t. It\u2019s always a good idea to have a conversation with the current owner about this, but take what they say with a pinch of salt. Get the black on white paper evidence and leave the emotional decisions aside.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"s1\">2. What Are The Monthly Income Revenue And Expenses?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">If the salon, clinic, or spa you&#8217;re interested in buying spends more money than it brings in each month, you might want to hold off from buying. If you still want to go ahead though, then consider that you might have to bail it out for several months before it starts to break even. The reason for this is that it can take a while for your marketing and PR efforts to pay off. Bear that in mind and ensure you have money aside to weather this.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">If looking at a profit and loss sheet or cashflow is not your strength &#8211; <em>and to be honest it\u2019s not something many people feel good about, <\/em>&#8211; then get a really knowledgeable outsider to look at this for you and point out where the problems might arise. The last thing you want is to end up with a business that\u2019s nothing more than a strain on your resources.<\/span> <a href=\"https:\/\/www.phorest.com\/blog\/salon-accountant\/\" target=\"_blank\" rel=\"noreferrer noopener\">A good salon accountant can assist you in this. <\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Examine Management Accounts &amp; KPIs<\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Another thing to look into before buying an existing salon, clinic, or spa is the management accounts and the Key Performance Indicators <em>(financial, marketing, etc)<\/em>. If you\u2019re buying a business that uses <a href=\"https:\/\/www.phorest.com\/\" target=\"_blank\" rel=\"noopener\">Phorest Salon Software,<\/a> this will be easy to get a hold on using the <a href=\"https:\/\/www.phorest.com\/features\/salon-accounting-software\/\" target=\"_blank\" rel=\"noopener\">management and reporting tools.<\/a> Digging into management accounts and KPIs will give you an excellent insight into which areas of the salon, clinic, or spa you can improve upon.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4. Look Into HR &amp; Staff Issues<\/h3>\n\n\n\n<p><span class=\"s1\">Find out if there are <a href=\"https:\/\/www.phorest.com\/blog\/guide-difficult-salon-staff\/\" rel=\"noopener\">any problem staff members<\/a>. When you take over the business, one of the ongoing concerns will be&nbsp;that you will take over the staff and their employment record will be unbroken. You need to be aware of this, because if you have to let go of someone who is underperforming, then you need to go through all the standard HR procedures and <a href=\"https:\/\/www.phorest.com\/blog\/planning-salon-spa-procedure-manual\/\" rel=\"noopener\">act accordingly to the SOP Manual<\/a>&nbsp;that is currently in place. Check with your HR advisor before doing anything.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"s1\">5. Know What You&#8217;re Buying<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400;\">Think really hard before you buy the limited company, rather than just the assets of the business. If you buy a limited company from another owner, then you inherit their liabilities, including disgruntled clients who may sue the company at a later date.<\/span><\/p>\n\n\n\n<p class=\"p1\"><span class=\"s1\">As you can see, buying an existing business is not as easy as it may look. If you\u2019d like to learn more about your numbers and how to run a financially successful business, or, if you&#8217;d like advice regarding the P&amp;L sheet, then<strong>&nbsp;<a href=\"https:\/\/www.facebook.com\/groups\/GMkyn\/\" rel=\"noopener\">join my Facebook group Knowing Your Numbers<\/a><\/strong>.<strong>&nbsp;<\/strong>It\u2019s a safe place to ask questions and find out more about numbers in a supportive environment.<\/span><\/p>\n\n\n\n<p>Got feedback? Let us know either in the comments below <em>on&nbsp;<a href=\"https:\/\/www.instagram.com\/phorestsalonsoftware\" rel=\"noopener\"><em>Instagram!<\/em><\/a><\/em><\/p>\n\n\n\n<p>Thanks for reading! #Togetherwegrow<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h5 class=\"wp-block-heading\">&nbsp;<\/h5>\n","protected":false},"excerpt":{"rendered":"<p>If you have even the slightest bit of entrepreneurship in you, it is very likely that there will be a time in your hairdresser, stylist or beauty therapist career where you think: &#8220;Right, it&#8217;s time. I&#8217;m ready to run my salon (or spa!).&#8221; From there you might decide that opening a salon, clinic, or spa &hellip; <a href=\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/\">Continued<\/a><\/p>\n","protected":false},"author":40005,"featured_media":114455,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1298,1300],"tags":[6564,6565,13253,13254,4369,5054,6123,4371],"class_list":["post-29940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-management","tag-buy-a-salon-us","tag-buy-an-existing-salon-us","tag-buying-a-new-salon-us","tag-buying-a-spa-us","tag-finance-us","tag-know-your-costs-us","tag-know-your-numbers-us","tag-salon-finance-us"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What You Need To Know Before Buying An Existing Salon | Phorest<\/title>\n<meta name=\"description\" content=\"Just like when you&#039;re thinking of expanding with a second location, there&#039;s a myriad of things you need to think about before investing your money in buying an existing salon. You need to be very careful, even if the said salon has been professionally valued. Here are 5 aspects of the business you need to look into.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What You Need To Know Before Buying An Existing Salon | Phorest\" \/>\n<meta property=\"og:description\" content=\"Just like when you&#039;re thinking of expanding with a second location, there&#039;s a myriad of things you need to think about before investing your money in buying an existing salon. You need to be very careful, even if the said salon has been professionally valued. Here are 5 aspects of the business you need to look into.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/\" \/>\n<meta property=\"og:site_name\" content=\"Phorest\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/phorestsalonsoftware\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/groups\/GMkyn\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-11T17:53:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-04T10:14:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234-150x150.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"723\" \/>\n\t<meta property=\"og:image:height\" content=\"482\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gloria Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234-150x150.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@GloM62\" \/>\n<meta name=\"twitter:site\" content=\"@thephorestword\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gloria Murray\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/\"},\"author\":{\"name\":\"Gloria Murray\",\"@id\":\"https:\/\/www.phorest.com\/us\/#\/schema\/person\/28d924500da88726de43660670095fd3\"},\"headline\":\"What You Need To Know Before Buying An Existing Salon\",\"datePublished\":\"2018-04-11T17:53:02+00:00\",\"dateModified\":\"2024-09-04T10:14:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/\"},\"wordCount\":791,\"publisher\":{\"@id\":\"https:\/\/www.phorest.com\/us\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234.jpg\",\"keywords\":[\"buy a salon\",\"buy an existing salon\",\"buying a new salon\",\"buying a spa\",\"finance\",\"know your costs\",\"know your numbers\",\"salon finance\"],\"articleSection\":[\"Finance\",\"Management\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/\",\"url\":\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/\",\"name\":\"What You Need To Know Before Buying An Existing Salon | Phorest\",\"isPartOf\":{\"@id\":\"https:\/\/www.phorest.com\/us\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234.jpg\",\"datePublished\":\"2018-04-11T17:53:02+00:00\",\"dateModified\":\"2024-09-04T10:14:04+00:00\",\"description\":\"Just like when you're thinking of expanding with a second location, there's a myriad of things you need to think about before investing your money in buying an existing salon. You need to be very careful, even if the said salon has been professionally valued. Here are 5 aspects of the business you need to look into.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#primaryimage\",\"url\":\"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234.jpg\",\"contentUrl\":\"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234.jpg\",\"width\":723,\"height\":482,\"caption\":\"Barber with digital tablet sitting on window sill of salon. Hairdresser organizing his business using latest technology.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.phorest.com\/us\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What You Need To Know Before Buying An Existing Salon\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.phorest.com\/us\/#website\",\"url\":\"https:\/\/www.phorest.com\/us\/\",\"name\":\"Phorest\",\"description\":\"Salon Software for Hair, Beauty, Barber &amp; Spa Businesses\",\"publisher\":{\"@id\":\"https:\/\/www.phorest.com\/us\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.phorest.com\/us\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.phorest.com\/us\/#organization\",\"name\":\"Phorest Salon Software\",\"url\":\"https:\/\/www.phorest.com\/us\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.phorest.com\/us\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2019\/10\/24141402\/phorest-acorn-logo1.png\",\"contentUrl\":\"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2019\/10\/24141402\/phorest-acorn-logo1.png\",\"width\":201,\"height\":202,\"caption\":\"Phorest Salon Software\"},\"image\":{\"@id\":\"https:\/\/www.phorest.com\/us\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/phorestsalonsoftware\",\"https:\/\/x.com\/thephorestword\",\"https:\/\/instagram.com\/phorest_salon_software\",\"https:\/\/www.linkedin.com\/company\/phorest?trk=company_name\",\"https:\/\/www.pinterest.com\/phorestss\/\",\"https:\/\/plus.google.com\/u\/0\/b\/101418954139594616916\/101418954139594616916\/posts\/p\/pub\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.phorest.com\/us\/#\/schema\/person\/28d924500da88726de43660670095fd3\",\"name\":\"Gloria Murray\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.phorest.com\/us\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2021\/10\/28151403\/Gloria_Murray_2021_Headshot-150x150.jpg\",\"contentUrl\":\"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2021\/10\/28151403\/Gloria_Murray_2021_Headshot-150x150.jpg\",\"caption\":\"Gloria Murray\"},\"description\":\"Gloria Murray is a UK award-winning accountant and business advisor known to her clients as the Queen of Profit. With 30 years of background and experience in the hair and beauty industry, she understands small business owners' needs, wants, and dreams and with her speciality being numbers, she helps them succeed. Director of Murray Associates Accountants, Gloria focuses on making the bottom line a foundation to build on, ensuring that every salon, spa, and clinic owner she works with increases their turnover, grows a sustainable business, and significantly boosts their profit.\",\"sameAs\":[\"https:\/\/murrayassociates.co.uk\/\",\"https:\/\/www.facebook.com\/groups\/GMkyn\",\"https:\/\/www.instagram.com\/gloriaqueenofprofit\/\",\"https:\/\/www.linkedin.com\/in\/gloriamurrayaccountants\/\",\"https:\/\/x.com\/GloM62\",\"https:\/\/www.youtube.com\/user\/MurrayAssociates\"],\"url\":\"https:\/\/www.phorest.com\/us\/blog\/author\/gloria-murray\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What You Need To Know Before Buying An Existing Salon | Phorest","description":"Just like when you're thinking of expanding with a second location, there's a myriad of things you need to think about before investing your money in buying an existing salon. You need to be very careful, even if the said salon has been professionally valued. Here are 5 aspects of the business you need to look into.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/","og_locale":"en_US","og_type":"article","og_title":"What You Need To Know Before Buying An Existing Salon | Phorest","og_description":"Just like when you're thinking of expanding with a second location, there's a myriad of things you need to think about before investing your money in buying an existing salon. You need to be very careful, even if the said salon has been professionally valued. Here are 5 aspects of the business you need to look into.","og_url":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/","og_site_name":"Phorest","article_publisher":"https:\/\/www.facebook.com\/phorestsalonsoftware","article_author":"https:\/\/www.facebook.com\/groups\/GMkyn","article_published_time":"2018-04-11T17:53:02+00:00","article_modified_time":"2024-09-04T10:14:04+00:00","og_image":[{"width":723,"height":482,"url":"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234-150x150.jpg","type":"image\/jpeg"}],"author":"Gloria Murray","twitter_card":"summary_large_image","twitter_image":"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234-150x150.jpg","twitter_creator":"@GloM62","twitter_site":"@thephorestword","twitter_misc":{"Written by":"Gloria Murray","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#article","isPartOf":{"@id":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/"},"author":{"name":"Gloria Murray","@id":"https:\/\/www.phorest.com\/us\/#\/schema\/person\/28d924500da88726de43660670095fd3"},"headline":"What You Need To Know Before Buying An Existing Salon","datePublished":"2018-04-11T17:53:02+00:00","dateModified":"2024-09-04T10:14:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/"},"wordCount":791,"publisher":{"@id":"https:\/\/www.phorest.com\/us\/#organization"},"image":{"@id":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#primaryimage"},"thumbnailUrl":"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234.jpg","keywords":["buy a salon","buy an existing salon","buying a new salon","buying a spa","finance","know your costs","know your numbers","salon finance"],"articleSection":["Finance","Management"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/","url":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/","name":"What You Need To Know Before Buying An Existing Salon | Phorest","isPartOf":{"@id":"https:\/\/www.phorest.com\/us\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#primaryimage"},"image":{"@id":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#primaryimage"},"thumbnailUrl":"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234.jpg","datePublished":"2018-04-11T17:53:02+00:00","dateModified":"2024-09-04T10:14:04+00:00","description":"Just like when you're thinking of expanding with a second location, there's a myriad of things you need to think about before investing your money in buying an existing salon. You need to be very careful, even if the said salon has been professionally valued. Here are 5 aspects of the business you need to look into.","breadcrumb":{"@id":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#primaryimage","url":"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234.jpg","contentUrl":"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2022\/08\/22085335\/GettyImages-643977234.jpg","width":723,"height":482,"caption":"Barber with digital tablet sitting on window sill of salon. Hairdresser organizing his business using latest technology."},{"@type":"BreadcrumbList","@id":"https:\/\/www.phorest.com\/us\/blog\/buying-an-existing-salon\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.phorest.com\/us\/"},{"@type":"ListItem","position":2,"name":"What You Need To Know Before Buying An Existing Salon"}]},{"@type":"WebSite","@id":"https:\/\/www.phorest.com\/us\/#website","url":"https:\/\/www.phorest.com\/us\/","name":"Phorest","description":"Salon Software for Hair, Beauty, Barber &amp; Spa Businesses","publisher":{"@id":"https:\/\/www.phorest.com\/us\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.phorest.com\/us\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.phorest.com\/us\/#organization","name":"Phorest Salon Software","url":"https:\/\/www.phorest.com\/us\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.phorest.com\/us\/#\/schema\/logo\/image\/","url":"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2019\/10\/24141402\/phorest-acorn-logo1.png","contentUrl":"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2019\/10\/24141402\/phorest-acorn-logo1.png","width":201,"height":202,"caption":"Phorest Salon Software"},"image":{"@id":"https:\/\/www.phorest.com\/us\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/phorestsalonsoftware","https:\/\/x.com\/thephorestword","https:\/\/instagram.com\/phorest_salon_software","https:\/\/www.linkedin.com\/company\/phorest?trk=company_name","https:\/\/www.pinterest.com\/phorestss\/","https:\/\/plus.google.com\/u\/0\/b\/101418954139594616916\/101418954139594616916\/posts\/p\/pub"]},{"@type":"Person","@id":"https:\/\/www.phorest.com\/us\/#\/schema\/person\/28d924500da88726de43660670095fd3","name":"Gloria Murray","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.phorest.com\/us\/#\/schema\/person\/image\/","url":"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2021\/10\/28151403\/Gloria_Murray_2021_Headshot-150x150.jpg","contentUrl":"https:\/\/d2dfxqxblmblx4.cloudfront.net\/wp-content\/uploads\/2021\/10\/28151403\/Gloria_Murray_2021_Headshot-150x150.jpg","caption":"Gloria Murray"},"description":"Gloria Murray is a UK award-winning accountant and business advisor known to her clients as the Queen of Profit. With 30 years of background and experience in the hair and beauty industry, she understands small business owners' needs, wants, and dreams and with her speciality being numbers, she helps them succeed. Director of Murray Associates Accountants, Gloria focuses on making the bottom line a foundation to build on, ensuring that every salon, spa, and clinic owner she works with increases their turnover, grows a sustainable business, and significantly boosts their profit.","sameAs":["https:\/\/murrayassociates.co.uk\/","https:\/\/www.facebook.com\/groups\/GMkyn","https:\/\/www.instagram.com\/gloriaqueenofprofit\/","https:\/\/www.linkedin.com\/in\/gloriamurrayaccountants\/","https:\/\/x.com\/GloM62","https:\/\/www.youtube.com\/user\/MurrayAssociates"],"url":"https:\/\/www.phorest.com\/us\/blog\/author\/gloria-murray\/"}]}},"_links":{"self":[{"href":"https:\/\/www.phorest.com\/us\/wp-json\/wp\/v2\/posts\/29940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.phorest.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.phorest.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.phorest.com\/us\/wp-json\/wp\/v2\/users\/40005"}],"replies":[{"embeddable":true,"href":"https:\/\/www.phorest.com\/us\/wp-json\/wp\/v2\/comments?post=29940"}],"version-history":[{"count":3,"href":"https:\/\/www.phorest.com\/us\/wp-json\/wp\/v2\/posts\/29940\/revisions"}],"predecessor-version":[{"id":145482,"href":"https:\/\/www.phorest.com\/us\/wp-json\/wp\/v2\/posts\/29940\/revisions\/145482"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.phorest.com\/us\/wp-json\/wp\/v2\/media\/114455"}],"wp:attachment":[{"href":"https:\/\/www.phorest.com\/us\/wp-json\/wp\/v2\/media?parent=29940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.phorest.com\/us\/wp-json\/wp\/v2\/categories?post=29940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.phorest.com\/us\/wp-json\/wp\/v2\/tags?post=29940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}