Achieving Financial Freedom in Running a Beauty Business

Salon Business
Cool Beauty Magazine Summer 2019

“Yes, I own a salon.” “I love beauty, but I struggle to be profitable.”

“I really enjoy doing hair, but selling product is not my thing.”

Owning a salon goes beyond hair artistry. You want – and need – your salon business to be profitable. You want loyal clients that keep coming back for all their beauty needs, and you want them telling their friends about you and your salon!

As a 30-year professional salon consultant and co-owner of Cool Beauty Consulting, I have found that there are two key components to achieving financial freedom in running a beauty business.

The first is payroll or commission structure. You should invest in salon systems that train stylists how to create and keep a full client base. This is how to achieve your income goals – the real, hard cash that both owners and stylists deposit in the bank. We recommend taking the focus off commission percentages and placing the focus on success systems.

The second is retail. Up to 50% of salon profits can come from retail product sales. An integral part of loyalty is that you are your clients shopping destination! They look to you for the right products to re-create their salon look everyday (until their next appointment).

The BIG intangible priority is the connection and emotional well-being your client receives from you when they look and feel beautiful beyond their salon visit by using the products you recommended. This ensures continued loyalty as it strengthens the relationship you have as a stylist and a beauty expert.

Remember – what they are buying is you!

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  • This is so true for salon owners that have the desire to succeed, not just have a “busy” salon. As a former salon owner, I can personally say that implementing systems is the absolute best way to grow your salon, staff, and business as a whole. In the end you become profitable because it is a direct result of system based businesses. We see everyday in other successful companies!

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