Importance of Investing in Your Hair Business Skills | Hairstylist VLOG
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- เผยแพร่เมื่อ 12 ก.ย. 2024
- Being highly skilled in your craft doesn't necessarily translate to the same level of expertise in managing your business. That's where I step in, offering guidance to help you become more organized and gain a better understanding of your financials. Let me assist you in optimizing your operations and maximizing your potential. You can find all this valuable information in my complimentary course, "A Wealthy Hairstylist." And the best part? It's conveniently available right here on TH-cam for you!
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Hey it's me, Samantha! I am a course creator, salon owner, stylist, mom & wife.
And LISTEN GIRL, I GET IT. A lot of hairstylists shy away from numbers.
We spend so much time being artists, that we’re not aware of what comes in and what goes out. But we need to know how to do the numbers better if we want to have a thriving, successful business.
And that’s why I started A Wealthy Hairstylist.
To help stylists like you achieve more wealth by becoming financially savvy and ultimately more profitable. As hairstylists, we aren't taught how to measure profitability or track our growth, so we don’t know where we’ve been and where we are now. And I think that’s ridiculous. It’s time to learn those skills so we can create long-term wealth, feel confident in our financials, and craft a business we love.
Let’s get you started on your journey to wealth today.
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A Wealthy Hairstylist is all about mentoring and educating independent hairstylists so they can boost profits, increase the organization of their business, and achieve financial empowerment in their business, on their own terms. The Wealthy Hairstylist Academy is a selection of courses to help hairstylists take their businesses to the next level.
If you’re looking to streamline your business and make more money by niching down, then THE NICHE IT DOWN COURSE is the place for you - awealthyhairst...
If you want to learn how to completely track your income and expenses with templates and custom spreadsheets to help you every step of the way then THE CASH IN ON PROFIT COURSE is for you - awealthyhairst...
If you’re ready to fully take your business to the next level by learning how to price your services for profit, incorporate your business, and plan for future financial stability then THE SUCCESS CLUB COURSE is the one for you - awealthyhairst...
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Not ready to take on a course just yet, I got you! Your future self will thank you for downloading these freebies. Just saying…
FREE HOURLY RATE CALCULATOR - Helps independent hairstylists determine their current hourly rate based on workdays, daily hours, client numbers, and gross income, providing a clear starting point for business improvements - awealthyhairst...
FREE MASTER HAIRSTYLIST EXPENSE SHEET - Helps independent hairstylists calculate their daily costs, providing insight into expenses and their impact on overall profit. Learn how to determine your Daily Expense Rate as a Rental Hairstylist - awealthyhairst...
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Ready to join me in becoming a financial bad*ss? Meet me at awealthyhairst...
Investing in your business skills is just as important as your investing in your hairstylist technique. Let me know where you need help!
So many important points. Thank you for sharing!
I am so happy you found this useful! If you have any other questions or any other topic you would like me to discuss more on, please let me know.
How do I message you? I would love more information please!
@@HollyWolfe-om6ys you can visit www.AWealthyHairstylist.com
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!
@@SamanthaPiercy thank you this definitely helped !
@@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.