Over the years I have been asked numerous times by hairstylists, “How did you become so successful?” As flattering as this question is, it really struck me that my hairstylist peers were not as successful as I had become. They were just as talented and experienced as I was, yet they were making less money and working more hours than I ever had.
It was this epiphany that really inspired me to create this hairstylist educational channel. To help you truly understand your hairstyling business so that you too could become a wealthy hairstylist.
I have seen so many stylists fall into the trap of emotionally discounting their hairstyling services. Don't make these same mistakes. Let me know if you need any help with this important topic!
How have you been nurturing your business from behind the chair? We're here to help each other grow, so if there's anything you're curious about or need advice on, feel free to drop a question.
I hope these tips hair extension inventory tip helps! Let me know if there is a different way that you manage your inventory? If you have any questions, let me know!
Hi Samantha! Can you please share with me what you do as far as booth rent increases? Dollar amount or percentage, and is it at the start of the new year, a year from the stylists start date, etc…? Thank you so much!!!
Hey! To be honest it really is your preference. I personally do a yearly percentage increase based off of my lease rental increase. Every lease agreement is different, so I would consider your lease terms and increase rates accordingly to maintain your profit margin.
Taxes can be an intimidating subject for any hairstylist! Don't wait all year for a surprise, get ahead of this important part of your business. Let me know if you have any questions.
Well, here is a quick version of my hair extension specialist story! Hope you enjoy. Share your story in the comments below. I would love to hear from you :)
So i have a question that i cant seem to wrap my head around . My wife has been a stylist for 6 years and has been very successful with her chair rental & she is at a point in her career where she wants to open her own salon . I am at a point in my career where id like a change also so we thought why don’t we open a salon together . I am not in the hair industry. With that being said the plan is to open a 5or6 chair salon with one of them being hers . Everything as far as startup and cost & bills will be split 50/50 and my roll would be obviously half owner but also maybe salon manager/ receptionist/ marketing etc….how much would i pay myself is the ultimate question? Would our pay be split 50/50 even though she is the owner/ stylist that brings in her own clients? Now that we are 50/50 would her clients be considered “the business’s clients” ? Would i pay myself from just the chair rental profit ? Just a bit confused on this part i figured id ask someone with your experience. I have been binge watching your videos the past 2 days thanks for all of the great insight and help!
Hey! So I would look at how you are planning on splitting everything a little differently. Here is a suggestion. She needs to incorporate her business if she has not done so already. You both need to create a shareholder's agreement for the company based off of the money/equity you both are contributing or looking for. What the salon makes and she makes goes into the salons business account. She can have a small monthly or bi monthly salary as an employee of the business. I would start you off on an hourly rate for "management" of the salon. If the income coming in from renters and your wife's chair income is enough to put you on payroll and pay for your taxes as well, then go for it. But I would ease into that and make sure you have enough funds to do so. You could set owners distribution's/draws once the business reaches over an X amount of income. However the draw can not be more than what the limit needs to be, to keep your account healthy to pay for all your monthly expenses. You could also take an owners distribution based on your profit shares at the end of the year from what is left as profit. The business account would be the account paying for all overhead bills. Not each of you individually. I hope this all makes sense. Let me know if you have any other questions. Best of luck on your new adventure!
@@JamieMac203 of course! You need to be on top of your book keeping every month to be able to determine the salon profit rate. I would suggest doing a spreadsheet that separately tracks the salons income, bills, management, repairs ect separate than your wife’s. It’s a good way to see what she spends to run her business vs what the salon does. It will give you better clarity to find out of the salon itself is really profitable to be able to withstand a salary pay or any improvements/uogrades needed down the road.
@@SamanthaPiercy absolutely.! We are still in the beginning stages & tomorrow are going to go over an intent to lease with an agent. Any suggestions or things we should ask for or look out for? . The space is 1280 sqft and needs updating which the owner knows and is ready to do
Make sure you understand all lease terms! There is a lot of unfamiliar lingo if you are new to commercial leasing. Make sure you are clear on what TI will be provided, sometimes there is none! Everything is negotiable on your lease, so don't be afraid to ask for changes or lower rates or terms. You could always apply for a SBA loan if you need the extra financing for a build out, and equipment.
Hello! Would you share a price break down of costs to your renters if you have finally made it to where all of the salon costs are paid by the renters? My contribution is for our emergency fund, and all salon expenses are paid by the renters. I feel they will have animosity towards me if they knew those numbers. My salon is beautiful, and I carry beautiful, sustainable product line as well as all of the things you mention in this video! Thank you! Also, how would you go about it, if you chose not to share your books with the renters?
Hey! I would NOT share a breakdown of your business expenses to your renters. I never had any renter come and ask me what is cost me doing business, and why I charge what I charge for their rent. A way to help with this, is to have clear communication within their rental agreements as to what is included within the space they are leasing and what you are providing as the lessor. Rent should be a weekly rate that is consistent and based off of the days they rent. I hope this helps. Let me know if you have any other questions.
Ahh you caught me.. its a Demi permanent color. When the camera is going and you cant stop recording, you just have to go with the flow. Mistakes and all...
There are some months that have 5 weeks versus 4. If you charge the same monthly rate for each month, you leaving money on the table for the months that actually have 5 weeks. A lot of it is preference. I prefer to charge week by week. My stylist prepay to work the upcoming week. I offer one week off a year, so its easier for me to track when my stylist's pay per week. And if a stylist goes on maternity leave, it is easier more me to track each exact week they take off, and the discount rate associated with each of those weeks. Hope this helps!
What would you suggest for a stylist who is unsure when or even if they will return? As of now, I have decided to take 8 weeks off; However, we are going to have a baby with special needs, and are just unsure of what to expect and what life will look like for us after the baby is here.
I would ease back into working. Take all the time off that you need. To prepare coming back to work I would try to pre book your clients on your schedule. If you are recommending them to see someone at your salon, then book one apt with them and then their next back on your schedule. Already adjust your future schedule to be part time or one to 2 days a week coming back to work. And then each week, slowly add more hours and or days. You might just like the part time schedule and may just stick with that for awhile while you adjust to your new mommy life. If you were an employee of your own business, you can file against your "company" for maternity leave and family bonding leave. This way you could at least make some extra money while you are out. Let me know if you have any other questions. And congrats on your baby!
Hey! Yes, the station with the mirror is 76" tall and 32" wide. The cabinets measure 72" tall, the mirror is set to be larger and taller in front of the cabinets. My stations are also floating off of the floor. I hope this helps.
Hey! I have a rental contract pdf available for you through my website. www.AWealthyHairstylist.com You can fill in the blanks for what works best for you or rewrite the contract using what I give you as a guideline.
This is just showing you the minimum of what to charge based off of your expenses. You can always charge more from there. I wanted to explain what is the minimum to charge to cover your expenses. By understanding your expenses you can base what rate would work best for you based on what you want your profit to be. You can make more of an income having two stylist per station, being open more than 4-5 days a week to name a few.
I am so happy this has helped. It takes a lot of work to run a business and to be the artist as well. But having clear guides and direction will only help keep you organized and prepared for growth. Let me know if you have any other questions. Thank you so much for following along!
I am so happy to hear this video has helped you. I am coming out with a salon manger guide to purchase soon! If you have any other questions please let me know.
I personally just do hand-tied and or coveted wefts. I do not do k-tip or tape in's, However you can still apply these tip to building any extension clientele! If you have any other questions, let me know!
I have been preaching this mantra for years to my salon stylist and now I am sharing it with you. I have to admit it isn't anything new, just a fresh perspective from an experienced stylist! Let me know what you think!
A root melt is essentially creating a transitional color from a clients roots into another color. For example I create most root melts to help achieve a softer regrowth for my clients who would normally have highlights. After washing out all my clients highlights(foils), I would apply a root melt using a semi permanent color ( i like redken shades or colornace) at my clients roots while they are in the shampoo bowl. The root application can be a tap (very little) or a longer drag (1-4 inches) depending on how much depth or how big you want your transition to be. The color is left on for 5-25 minutes depending on brand and opacity that you are looking for. I can link another video of how I do a root melt if you are interested? Let me know if you have any other questions.
Thank you! I actually just used the Redken Shades Processing Solution ( equal parts). Recently I have been playing with Goldwell's Colorance and using their 7 vol for a root shadow and I am really liking it!
As I watched your video I think you mixed more than one job into one - most of what you said is correct, but where is the reception, where is the cleaner where is the HR team, you shifted all the jobs to the saloon manager, even social media marketing I am not with you, any Saloon need more than one person, yeah we can load one person with everything but the best is to cut it in the right way, so the saloon manager can focus on the target and achieving the highest rank for everything. You will need Reception - Social Media Marketing - Cleaner - Hair Stylist - Nail specialist - Skin Specialist and Stylist in general - So Saloon Manager will go take the training and Opservite with other Salon team member - Greating , SUpport schedule - salaries Bouns yeah Saloon Manager - inventory - and Morning meeting with all the team is the best way to get the new idea and the most important thing is Saloon manager to know the latest update for Fashion from A to Z, and Update the team with it.
Hey! What you said could be true if said salon had the finances to do such things. Most salons are boutique and small and do not have the income to pay for all of things you listed. I own a rental salon, so a lot of what you said wouldn't apply to me. I have no interest in having a full service salon. I have a specialized salon that only focuses on color, extensions and haircuts. If someone owns a very large commission salon, then yes more management would need to be in place since you would have employee's. However this would not apply to rental salons when such stylists would run their own business behind the chair. All I talk about are suggestions and what has worked for me and how I run my business. I never suggest that this is how YOU should do it. Thanks for the suggestions, this could be a great video to talk about for management for a Commission Salon.
We all know if the clients are happy the stylist and salon owner are happy! Making sure clients have a good experience is absolutely my number one priority as a stylist and salon owner. These are just a few of the many things I do in my own salon for clients. Let me know if you have any tips of your own to share!
I am now in my sixth year of owning my first salon! It is hard to believe but it has gone by so fast. If you have any questions at all, please leave me comment.
I actually designed all of my websites. I use Squarespace as the platform. From there you can pick a layout from their website that works best for you and your business needs. Its super user friendly to customize. I hope that helps!
Very helpful video. Which retail line are you having in your salon? I would love to test them. I also want to offer something different. Thanks for your help❤❤. I truly appreciate your videos
I have carried a number of different product lines over the years. To name a few: EVO Hair, Mr. Smith, Oway, NAK, Iles Formula, and ROZ. I have enjoyed all these lines but I am always looking for the next best thing for my stylists and clients. Currently I carry Mr. Smith, Oway and NAK. This year I am phasing in Iles Formula and ROZ. Check these out and let me know what you think!
This is my first VLOG! Hope you guys enjoy a different perspective from me as I share more behind the scenes of my business and life. Any questions? Don't be shy! Ask away.
Hairstylist retention is very important if you want to own a successful salon. Whether you are running a rental or commission salon, these tips will definitely keep your stylists happy!
