5 Steps To Becoming Your Own Boss
Most commission based stylists dream of becoming their own boss. There are many benefits to branching off on your own: freedom, flexibility, and the possibility of increasing your income – but remember, booth renters are business owners. Great management tools and business knowledge are vital to the success of an independent stylist.
Think you are ready to take the plunge? Here are a few tips to prepare you for success.
YOUR WEBSITE MUST BE EFFECTIVE
Your website should look amazing, everyone knows that. What people don’t know is your website should actually be converting page viewers into paying clients. Every time someone lands on your website, this is an opportunity for you to acquire a new client.
- Do you have a “Book Now” button?
- Do you prompt clients to book an appointment or browse your gallery?
- Services like StyleSeat help you create your own profile page where clients can check your availability and book you directly from your page.
YOU NEED A MARKETING PLAN
Marketing on social media is free. Create a business page on Facebook and start uploading photos! Show penitential clients what you offer and make it easy for them to book.
- Add a “Book Now” button.
- Include your location and credentials in your “about” section.
- Post any and all content that will encourage bookings: client reviews, before/after photos, and special offers.
SELL PRODUCTS
Product sales are a great source of additional revenue. Pick a product you can confidently sell to clients – for tips on upselling checkout, “Increase your Revenue by Upselling.” If the product line you choose offers reward kickbacks, you can pass those savings on to your clients while still making great money! Let’s break down the numbers:
- You see 10 clients a day and each buys a $30 product.
- $30 X 10 clients = $300 extra is sales a day
- If you purchase the products for $180 + $15 in shipping, that means you make $105 in profit a day plus some rewards points from your initial purchase.
- $105 X 4 days a week = $420 extra a week in income.
- $420 a week mean an extra $1,680 a month!
GET BUSINESS INSURANCE
You have worked hard to earn your livelihood, why wouldn’t you protect it? Without insurance, you’re taking a risk that could cost you everything. Take the steps necessary to protect future earnings, tax returns, and your credit rating. Purchasing insurance can be intimidating if you don’t know what to look for. Don’t make this investment based on cost alone. Not all insurance policies are created equal, so it’s important you do your research.
MAKE SURE YOU HAVE ENOUGH CLIENTELE
The number one thing to take into consideration before becoming an independent stylist is, do you have the clientele necessary to succeed?
The bottom line is, you need at least 100-150 loyal clients to leave your commission based salon and become independent.
Take inventory of your clientele, do the math, and see how many clients you would have to see a day to support yourself. Let’s look at an example.
- 9 men’s haircuts a day at $30/cut = $270
- Now, minus $50/day for rent and $30/day for products. Now you have $190 left.
- A percentage of that goes to the government so let’s say you are left with $130
- If you work 4 days a week, you are left with 520 a week.
- That $520 goes to rent, food, gas, insurance costs, etc.
After you break down your numbers, ask yourself, “How many men’s haircuts would I need to do a day to make the money I really want?
Giving up the security of working for commision is a big decision, but If you are committed to professionalism and you are willing to learn, venturing out on your own can be incredibly rewarding.
Learn how StyleSeat can improve your business here.
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