Too many people put down hairdressers and beauticians as a dead end job, they even snigger at salon owners saying it’s only a matter of time before you close. There is NO money in it, it’s a hobby, it’s stressful and will take you no where.
Well I wanted to prove these people wrong. This is me, my life. I’ve lived and breathed hairdressing for over 35 years and I know different. I decided to prove these people wrong once and for all.
But first a little back story about me.
Hi I am Richard McCabe a salon business coach and I help salon owners make more money and free up more time. I wasn’t always a coach, I left school with poor exam results and fell into hairdressing, it wasn’t long before I started my own salon and struggled for the first 5 years. Making average money working month to month ( like most salon owners). I then decided to learn a better way to run my business and for the majority of my salon owner life I had a very comfortable living, giving me a lifestyle that I wanted.
When I was looking to purchase my second salon I realised that a lot of salon owners were just scraping by and not many were making money, so that’s how I fell into coaching. I wanted to help them and share my system.
From that day on I have had this battle with some salon owners that say YOU CANNOT make money as an owner, the margins are too small and everyone is struggling. This week I had this conversation with three owners and all of them said that most salon owners would be making marginal profits if any.
I know I was right as I was a salon owner making this kind of money, I have salons in my coaching practice earning and paying themselves extremely well, so I thought I would throw the question out on Facebook to any one that would help me build a picture of our industry.
This exercise in by no means exhaustive and may not even be the industry standard. But the results are real and true. Salon owners sent me these figures with no bribes and no other reason than sharing what they do. I thank each and every one of them for sharing and helping others gain knowledge that there is money to be made as a salon owner.
This is what I posted to 3 groups on Facebook and the results
Check out a workshop here how you too can get a lifestyle salon.
I’m now ready to hire license Hair Stylist, I had gotten burned out with the attitude of employees..I’m trying to get things back up and running. I need more time off but the bills must get paid. I have been during this for over 30 years.
Hi Alice. I am a big believer in, if your salon is NOT growing you are dyeing. I say that because if you are not growing you soon become burnt our and your passion what got you where you are today soon fizzles out and then its so hard to lift you game back up. Take the leap of faith and employ people on there ability to please others :). Good luck Rich