Management Practices

A Lesson in Real Estate from the Kings

Allyson King | September 27, 2015 | 5:16 PM

As they say… location, location, location. Now that we’ve agreed to open a salon, where should we put it?   So many great high potential neighborhoods in Brooklyn.

We know the areas we like, but we've agreed not to bet our savings on just our gut.  It's time to find a commercial real estate broker and map out the neighborhoods we love, the broker's experience and relevant demographic data.  

We looked for an active neighborhood that was close to mass transit, that had great parking and was easy to get in and out of. We want other retail neighbors that attract clients—I prefer lifestyle malls, but if you in a regular mall, I’d stay near the entrance. We are targeting young professionals and families.

Eddie, the Kings' commercial real estate broker.

Meet Eddie, he's our commercial real estate broker. We had reached out to our friend Jill Szymanski.  She's an expert in franchise real estate both for restaurants and spaces our size.  She recommended Eddie, who specializes in retail space our size, has been a huge part of the growth of several large chains in the boroughs and is a native Brooklynite.

What a lesson we learned…

  1. Commercial real estate is an expertise.  The right broker knows all the landlords. 
  2. If the space has a “for lease sign” on it, there is probably a reason.
  3. Don't believe the sticker price, the right broker can save you money in rent, leasehold improvement or free rent. 
  4. Let the expert do the work, searching on-line or driving around is a waste of time.

Hot Tip: Don’t know a great broker….  As stylist’s we love to chat.  Chat with the chain business you see popping up everywhere.  If they can find great locations for every T-Mobile in the Boroughs, I swear they are on every corner.  They can find you the right space with the right terms.

Read the first Blog in Allyson's series, Brooklyn is Our Muse.

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