With about 50 percent of the hair styling industry represented by independent beauty professionals, you may be considering if it’s the right move for you. The prospect of putting more money in your pockets is definitely attractive, but do you have what it takes? It’s a good idea to do a bit of self-analysis to determine if you should go that route.
Modern Salon gives a glimpse of some of the pros and cons of going the route of being your boss. The pros include flexible hours, the ability to choose your own products, keeping your own money, independence and, of course, being your own boss.
Some of the cons? You have to handle your own paperwork/recordkeeping, pay all of your business costs, go without someone providing your employee benefits, and handling higher tax rates.
But are your ready to take the leap? Good question. Making that decision requires taking the time to understand why you want to make the transition, calculate whether you’ll make more money either now or in the future, and if you’re self-disciplined enough to handle the challenges of running your own business.
Here’s a checklist of things to consider when making the decision to become a booth renter — and being your own boss:
- Do you have ideas about how you can do things better?
- Do you envision yourself continuing to work on commission in five years?
- Would you rather not focus on any details outside of styling hair?
- Do the pros of working on commission outweigh the cons?
- Do you have a significant number of loyal clients?
- Are you highly organized?
- Do you prefer working outside normal hours?
- Are you independent?
- Are you able to multi-task, taking on numerous responsibilities?
- Do you have solid business skills?
With the right mindset and desire, launching your own styling business could be the perfect decision for you. You can pair your natural skills along with new business tools and social marketing to help you make the transition with ease. The time could be now to make a move. Do a bit of self-analysis. Who knows? You could be on the path to a successful styling business of your own.
You can be on your way to building a rock solid business with Stylie, a great scheduling and point-of-sale tool that’s designed specifically for independent beauty professionals. You’ll get your business up and running in no time. Contact us for a free trial.
-Easy for you, Easy to love-