Close
Management Practices

Finding Park Place

Stacey Soble | September 25, 2015 | 1:25 PM
Greg Smith, vice president of real estate for SportClips.

As vice president of real estate for SportClips, Greg Smith knows a thing or several about selecting a superb site for a new salon. On a daily basis he’s working with area developers to find locations for the franchisees, reviewing market analysis on different communities and negotiating with landlords. Recently he answered some of our questions about site location.

On real estate priorities…

Smith: Your top priority is understanding who your customer is and what type of retail environment you need for success. Psychographic data will help you understand your client, where they shop and what other retailers draw the same consumer. This will help guide you to the type of real estate you should focus on, such as power centers, grocery-anchored malls or lifestyle centers, as well as what other retailers you want to be surrounded by.

On finding prime real estate…

Smith: Engage with a qualified real estate broker who specializes in retail, and more specifically, represents other retailers you want to co-exist with. A great broker will be your educator on the market, where to focus your search and help you negotiate the best deal. You can also leverage their relationships with landlords and developers as they become your brand ambassador within the local real estate community. They also provide tools you may not currently have like demographic data, aerials, competition maps, retailer maps, etc.

On entering a new market…

Smith: Again, find a broker. Then, along with the broker, create a market optimization map. This is where you ultimately want to locate your stores within a given market. This will adjust over time, but having a strategic plan will not assist with the real estate selection process.

For more management solutions for owners and managers of multiple locations, visit ISBN’s website at salonspanetwork.org.

Facebook Comments

More from Management Practices

How to Fire a Stylist, and Advice on How to Avoid It

August 24, 2017

At Serious Business in January, a panel of four owners of multiple salons spoke to the audience about the power of will and how it has affected their careers. As successful salon owners, Van Council, David Wagner, Debra Penzone and Eveline Charles employ hundreds of stylists and support staff. They have seen it all, and offered the audience valuable advice on hiring a staff that will build up your business’s culture.

Management Practices
Management Practices

Six Things You Need to Know About Salon Lighting

Michele Pelafas | August 16, 2017

When it comes to salon design, the appropriate lighting is one of the most critical design factors and it can impact how your clients feel about your services and your salon. With this helpful blog, Salon Designer Michele Pelafas offers six valuable pointers when it comes to selecting and positioning your lighting.

Load More