Ravenwood Business Loans of Waukegan, IL arranges funding through partners for Lake County, IL hair, nail and beauty salons: equipment and furniture financing for chairs and stations, term loans for build-outs and purchases, and working capital. Partners review each request and make their own decision.
| Beauty salons, Lake County, IL | 252 employers (CBP 2023) |
|---|---|
| Nail salons | 94 employers (CBP 2023) |
| Beauty salon nonemployers | 1,272 (NES 2024) |
| Nail salons under 5 employees | 78.7% (CBP 2023) |
A salon's two cost shapes
Opening or refitting a salon is equipment and construction: styling chairs and stations, shampoo units and backbars, dryers, pedicure spas with plumbing and venting, reception furniture and a booking system. Running one has steadier costs: products, wages or commission, rent, and card fees.
Owners who rent chairs or suites to independent stylists have a third shape: rent income that depends on keeping the chairs filled.
Counting Salons across Lake County, IL
| Business type (NAICS) | Employer establishments, CBP 2023 | Paid employees, CBP 2023 | Share under 5 employees | ZIP 60085 employers, ZBP 2023 | Nonemployers, NES 2024 |
|---|---|---|---|---|---|
| Beauty salons (812112) | 252 | 1,542 | 64.3% | 7 | 1,272 |
| Nail salons (812113) | 94 | 246 | 78.7% | 5 | 472 |
Employer figures: County Business Patterns 2023 (NAICS 2017). Nonemployer figures: Nonemployer Statistics 2024 (NAICS 2022). Two programs, two years; the counts are shown side by side, never combined.
The 1,272 beauty-salon businesses with no payroll in the 2024 nonemployer file reflect a trade where many stylists and nail technicians work on their own. Barber shops are smaller still: 24 employer establishments in 2023 (CBP).
Salon equipment loans and salon furniture financing
Equipment financing covers styling chairs, stations, shampoo bowls, dryers, pedicure spas, nail tables, sterilizers and reception furniture. Quotes from a salon supplier, with installation itemized, are the starting point. Used salon furniture can be financed but has limited resale value, so terms may be shorter.
The post on paying for salon chairs, stations and a build-out in Waukegan, IL lists the equipment and the order to buy it in.
How to get a business loan for a salon, from quote to signature
- List what the money buys: equipment, build-out, or operating cash.
- Get supplier quotes and the contractor's bid for plumbing, electrical and venting work.
- Pull recent bank and card-processing statements.
- Call Ravenwood or send the form; we suggest the structure and list the records partners will want.
- Compare the written terms before you sign.
For operating gaps, such as a slow month after a move, working capital fits. Some card-heavy salons look at a merchant cash advance, which is a purchase of future card sales rather than a loan; compare its total cost first.
Hair salon business loans for a build-out
A new space needs plumbing for shampoo bowls and pedicure spas, extra electrical capacity for dryers, and ventilation for nail work. That construction is a term-loan job; the chairs and stations go on equipment financing. Confirm the space's permitted use before you sign the lease.
Chair arithmetic (hypothetical)
If a salon adds four stations and rents them to independent stylists, the monthly chair rent from filled stations has to cover the equipment payment and the extra rent for the space. Model it with a vacancy or two, not with every chair full.
How to buy a salon
Buying an existing salon brings equipment, a lease and a client base whose loyalty may sit with the stylists. Partners may review the seller's returns and card statements, the lease and the staffing arrangement. Buyers mostly reach for a term loan here.
What partners commonly review
- Bank plus card-settlement records
- Supplier quotes and the contractor's bid
- The lease
- Existing equipment financing
- How long you have operated, and your revenue band
Salon suites and chair rental
Some owners build out a space as individual suites and rent them to independent stylists. The build-out is larger (walls, plumbing and electrical for every suite) and income depends on occupancy. Partners reviewing a suite project may want the lease, the build-out bid, signed suite agreements if any, and a plan for empty suites.
Retail product inventory
Product shelves earn margin but tie up cash. Everyday product orders can come from cash flow; a large opening order for a new location can be part of working capital. Track which lines actually sell before reordering.
Related pages
Barber shops are on the industries page. County counts are on the Waukegan, IL data page.
By Ravenwood Business Loans · Updated
