How To Become A Successful Salon Owner (The 3 Key Elements That Will Make You Profitable)

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How do you become a successful salon owner? Well, the problem with learning how to be successful is that people’s definitions of success are all over the place. In this video, I share three important measures that you should aspire to if you want to run a profitable business.

The thing is, there are some people who really don’t care what their salon looks like so long as they own a salon. However, at our academy, we have certain things that we feel are important indicators of success. Although you need to fulfill what your personal definition of success is, here are three general guidelines that can help shape what success looks like for you.

The first thing is that you are able to choose when you want to work behind the chair. Maybe you enjoy working with guests, and maybe not. Either way, learning how to be successful means giving yourself the flexibility to be able to make that decision for yourself.

Second, with a successful salon, you should be able to pay yourself an owner’s salary for all of the extra duties that you have to do. All of the extra time spent on the business should be compensated.

The third thing that is really important is taking home a profit, separate from what you’re paid behind the chair or from your owner’s salary. This is the money you get from your shareholding.

Decide how much money you want to make from each of these three roles, and that will be your definition of a successful salon. But whatever goals you choose for yourself, make sure they're based on your own true desires. At the end of the day, only you will know how to be successful based on your definition.

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[samarabdulla]

Thank you for the great content you've provided. As a salon owner of 2 years, I've really benefited from the tips and insights shared here.

I'm curious to know if just using a software system is sufficient to manage the day-to-day financials of my business. In my country, the standard practice seems to be to also maintain a physical notebook alongside the software, and to compare the numbers between the two. I also have my own Excel spreadsheet where I track daily income, expenses, and monthly payments.

I'm wondering if the software typically provide all the functionality needed, or are the additional records still important? Knowing that it takes lot of time to do so!

[gbvjcjk]

Thank you, I only knew about the two methods of payment and not the third. Very valuable points that I will take into consideration when operating as an owner.

[HighPerformanceSalon]

Be sure to follow us on social media!

@highperformancesalon

And if you want more salon insights, check out our free podcast and webinar:

[FrankWrightCburgers]

Thank you for video! Want to start my own business, its very helpful and inspiring!

[trinitytv_]

Help me! 3 years later lol. I love this

[oqcsjbr]

I planning to open a salon in India needed some guidance would you help ?

[gordonmartin]

Very helpful video. Been in the industry for 21yrs and have had thoughts of opening my own salon, after watching your video I'm having a little more confidence that I could actually do it. Definitely subscribing to your chanel and going to look for your Facebook page. Thank you.

[elninjapirata]

Hi, what program did you use to edit your videos. I love it!

[leslierivera]

Id like to book an appointment to start a hair salon business

[kayleighmills]

Just got a huge opportunity thrown out at me and my twin sister to take over a pre existing salon owners salon and we need help on how to be able to take over an existing successful salon!!

[baller]

I was wondering if you can help me here, my girlfriend and I are buying a salon where she already manages it for the last 20 yrs, we both agree to split the profits 50/ 50, if she works behind the chair does she get paid a managers salary and take 50% of profits or is that considered double dipping on the profits?

[statebudget]

Great video. I am planning to set up a saloon

[isabellacharles]

Pls help me. I just rented a space for my salon. I need coaching for the interiors and how to run it..

[mememe]

Help me. Purchasing my first salon. It's a chair rental and breaking even with half the chairs not rented.

[BeeingBee]

Great video! Just opened my salon this January and am ready to really take it to the next level as I have not checked off any of those points. Help please! Thank you!

[karminadeborja]

Help me 🙏 I own a nail salon business here in the Philippines. Currently, me, my mom and 1 on call staff are doing all the work. Especially me doing all around tasks. My concern is that why do I feel like nothing is happening. I need advice from the expert. Thank you

[dicksyification]

Help me I'm a professional qualified hairstylist in South Africa, Bloemfontein in Free state Province. I need assistance to start a salon business

[KeleenDesignsArt]

I just brought my first salon yesterday, and I don’t have a clue what to do anybody please help me

[stevedamien]

Never a franchise but a private yes.
I have the worst haircut(Rocker with an 80s hairstyle, , )for the business of hairstylist.
But still despite not liking and having zero interest in fashion and hair styles I bought an 95k hair salon that has 9 chairs and 2 spa rooms(these rooms are already leased before purchasing the place and cover 4000$ of the 6100$ monthly lease!..
Mortgage is 720$/month-I provided 10k in down payment.
I am in the International Vancouver, Canada.
My location is Downtown.
And yes I do offer at least great opening hours 7 days a week and 12 hours a day access to the salon for the stylists.
That help getting stylists moving in, ,

On the 9 chairs I managed to have 5 rented out monthly by the second week owning it.
-5000$
plus the already income from both spa already rented out rooms
-4000$
INCOME---9000$/MONTH (squaring here)

Monthly expenses are:
Mortgage-720$
Utilities-400$ (squaring here)
Lease-6100$
Property tax-280$
EXPENSES---7500$(squaring here again, )

So I end out right now with 2500$ a month doing absolutely nothing, nothing.
And still have 4 chairs to rent out.
then once the chairs rented out my 2500$ will become 6500$ a month doing nothing(utilities might go up of 200$ish so 6300$.
Now you have a detailed! plan that show you"yes buy an hair salon!!!"
-BUY SMALL
-NO FRANCHISE
-NEVER HIRE PROFESSIONALS BY THE HOUR!(MONTHLY CONTRACTORS ONLY)

All best!

[kasiajackowska]

How I can book consultation if we feet for each other?