What are the benefits of owning a hair salon as opposed to working as an employee in one? We are going to spell it out for you in this article by Salon & Spa Galleria, leading the way in the Greater Fort Worth Metro area with twenty-three salon suite rental locations. Call us at 817-917-1416 for more information.
Okay, you are thinking about owning a hair salon? Is it worth it to you to do so? We believe it is, and here is why.
Owning a hair salon means keeping 100% of the profits.
The vast majority of hair stylists begin their careers working in a hair salon, or beauty salon, owned by someone else. That means working for commissions, usually in the 40% range. It is a steady gig, provided you have the skills, it represents practically no risk, and for many it is a comfortable arrangement. The possibility of advancement is zero, as is the possibility of ever being financially secure.
Are there more risks in owning a hair salon? Of course there are, but our Salon & Spa Galleria business model urges you to start small, in your own one-person salon studio, growing as your business grows, and keeping all of the profits, which can be considerable.
Do the math. It is easy to see what all of this means regarding income. If you see ten customers per day, on average, and you average $50 per visit, you are making $500 per day, or $2500 per week, or $10,000 per month. After expenses you keep 100% of that profit. Now, the other option, working for commissions . . . 40% of $10,000 is $4,000 per month.
Which sounds better to you?
Owning a hair salon means great tax benefits.
The tax benefits of owning a business are huge. We strongly urge you to hire an accountant to help you in claiming all of the deductions you can claim, and the majority of those deductions can only happen if you are the owner and not an employee . . . deductions which will literally save you thousands of dollars, if not tens-of-thousands, come tax time.
Again, we urge you to contact a good tax accountant. They will tell you the same thing we have briefly told you in this article.
The intangibles of owning a salon vs working in one.
Be your own boss. Name your own hours. Make decisions which will directly affect your financial future, rather than being a pawn in a game played by others. Go to bed each night feeling good about your accomplishments and looking forward to the next day of possibilities.
These are benefits which are priceless, and they are available to you if you take the leap into business ownership.
A final word about Salon & Spa Galleria.
Salon & Spa Galleria is locally owned and operated, and we lead the way in the Greater Fort Worth area. Call us today and ask us about our free marketing program, designed to help new business owners succeed. When you lease a salon suite from Salon & Spa Galleria, you are never alone.
