If you don't have medical insurance, a bookkeeper, money for the vacation of your dreams, or money saved in case you gotta take time off. I hate to tell you, but your business is running you.
In cosmetology school we were not taught how to run a business. Hell, we weren't really taught how to do hair. Most of us came into hair school with the skills needed to do hair, but we never developed the mindset that if you are in a booth rental space or in a salon studio, you are a business owner.
After I graduated hair school all I wanted to do was make money doing hair. I didn't know that when I rented a booth that I would be paying my own taxes, nor did I know anything about a 1099, a bookkeeper, how to manage my finances, or account for my product expenses or even price myself as a stylist.
My first job was in a commission based salon. They did all of the book keeping, taxes and pricing for me. That was one of the benefits of being a commission stylist. The problem was, I wanted to charge more than what the salon I worked at wanted me to charge. I wanted to do more services than what they allowed me to perform. I wanted to own my own business and I didn't feel like I did as a commission stylist, because I didn't.
In 2014, I decided to step out of my comfort zone, and get my first salon studio space. I was so excited! Initially, I just charged what they charged because I thought it made sense. It seemed like a fair price. What I didn't take under consideration was that I needed help with balancing my books, which I had to pay for. I needed someone who understood how to properly take out my taxes, because they weren't gonna do it anymore. I think the only thing I took under consideration was that I had to buy my own products, but I still did not go up on my pricing because I had fear of losing clients.
My business was running me from the jump, and I had no clue. It wasn't until I took my first business class that I realized that I was a hairstylist, and I was also a business owner. I needed to take out expenses that account for me and my business. I wanted to take a vacation. I needed to have a bookkeeper. I had to have an accountant to do my taxes. I also needed to create some form of my own 401K so when I got finished doing hair, I was able to sustain the life that I wanted to lead.
If you are a hairstylist that is just making enough money to pay your bills, you don't have money set aside for your rainy day fund, or you're working everyday long hours performing every service that you possibly can to generate revenue; then I would love to talk with you. It is so important as cosmetologists that we understand that we run our businesses, our businesses do not run us!
I changed the game for my salon when I niched down and realized that I am preparing for my future and running a business, not just styling hair. If you are ready to start having enough revenue to save for your 401K, start taking the vacations that you dream of, and generate revenue that helps you feel valued as a stylist, I have the perfect solution to help you do that.
Apply for the Scalp Care Certification Course to learn if you qualify.
It's time to put your business in check. And it starts with Scalp Care.