Timely Unveils New Financial Literacy Education For Salons

New course aims to strengthen businesses as a major report highlights cracks in the industry

by AMANDA | INFORM

In a bid to tackle the growing financial instability facing the hair and beauty sector, Timely has teamed up with financial education platform The Curve to launch a new seven-part financial literacy course designed specifically for salon owners, freelancers and solo practitioners.

Hosted on Timely’s online platform, the course aims to give professionals the tools to price sustainably, manage profits and build long-term resilience. It follows the release of a joint report ‘Is Beauty On The Brink?’, which uncovers the alarming extent of the industry’s financial fragility.

According to the findings, 21 per cent of UK salons are operating at a loss, while two in five could face closure within a year without intervention. Despite powering a £30 billion industry and supporting almost half a million jobs, thousands of microbusinesses are working on margins so tight that a single no-show or rent increase can threaten their survival.

The report also reveals that many professionals undercharge to stay “affordable”, while rising costs and unpaid admin time push earnings close to, or even below, minimum wage. The pressures, experts warn, remain largely invisible to policymakers despite posing a risk to high-street vitality and employment.

“Financial literacy is a lifeline,” said Sophie Hallwright, co-founder and co-chief executive of The Curve. “By giving beauty professionals real financial confidence, we help them secure their futures.”Timely’s UK&I managing director, Oliver Smith, added, “Far too many practitioners are forced to try and survive on unreasonable margins, [but] this sector is resilient. With the right education and support, it can thrive again.”