You’re a cut and color wizard with skills that are hard to match, a true artist when it comes to hair. But are you also a businessperson? For a stylist, it’s tempting to want to be your own boss. Launching a salon gives you flexibility and independence and the potential to put your fees directly in your pocket. But there are also tons of hidden costs, risks, stress, and plenty of headaches involved with running a business. Sometimes, being part of a top-notch salon team is a better fit. Starting your own booth or salon may be a smart move for some, but make sure you’re going into it with your eyes open.
What Does Starting My Own Salon Involve?
Many stylists dream of opening a salon. But there’s a lot more to it than just cutting hair.
- Setting up shop means finding the perfect location. Plan to spend at least 10 percent of your gross earnings on rent and property costs, probably even more in high-value areas like the DMV.
- The hidden costs of business ownership go way beyond the cost of renting a booth or storefront. And running a salon isn’t always the moneymaker we think it might be. Experts say you’ll take home half of your gross income– or less– once you factor in all of the costs involved. The Thriving Stylist blog offers an excellent breakdown of some of these hidden or unexpected costs for salon owners. In addition to rent, consider:
- Back-bar and professional supplies
- Stylist commissions/wages
- Support staff wages
- Payroll taxes
- Maintenance and repairs
- Marketing and advertising
- Software (including online booking)
- Bank and credit card charges
- Licenses and permits
- Liability insurance
Operating a successful business means attracting and retaining customers. It’s up to you to get clients in chairs. Marketing and client retention fall to the salon owner. It can work well if you have the background and skillset for running a small business. But if your true passion is your flair for hair, going out on your own may not be the best approach.
What Are The Benefits of Working For A High-End Salon?
A position as a valued employee at a thriving business has plenty of perks. It’s all about finding the right salon. You want an environment where you’re appreciated and well-compensated. Guess what–it really does exist. Here are some of the upsides of working for a high-end salon.
- The team dynamic. Many small business owners admit there’s a loneliness to being a one-person operation. A fabulous team can provide support, share best practices and new techniques and create a fun work environment.
- Benefits. Working for a thriving professional salon means stylists can tap into benefits they wouldn’t otherwise have access to. For example, Radiance Salon & Medi-Spa offers medical and dental plans and a 401K program.
- Discounted services. Being part of a dream team at a full-service salon/medi-spa means discounts on a range of outstanding services. Don’t like doing your eyebrows? Need a mani-pedi? Want BOTOX? No problem.
- You don’t have to deal with purchasing products and supplies. At Radiance Salon, management takes care of all that. The stylists don’t pay any back bar fees (that’s a big deal!). And stylists get great discounts on retail products.
- Admin support. From booking to the books, we’ve got you covered. You’re here to do your job like no one else can. There are no headaches with taxes, insurance, and finances. Our admin staff takes care of that and lets you work your magic.
- Excellent compensation. Radiance offers a commission of 50 to 60 percent for stylists and guaranteed hourly wages while you build your book. You also get commissions on retail sales, and our clients are known for tipping well.
- Continuing education and professional development in a supportive environment.
- Flexible schedules. Not being the boss means vacations, sick leave, and family leave are a piece of cake.
The Benefits of Being Part of a Team
Radiance Salon & Medi-Spa has a reputation for a work environment that’s both highly professional and super fun. Terrific clients, room for your existing fanbase, a stellar facility, excellent pay and benefits, and so many perks. Plus a signing bonus of $1,000 for full-time stylists as we swing into summer. As a stylist, we give you space to focus on your artistry and not the daily grind of owning a business.