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Are You Earning Enough?

Are You Earning Enough?

Are You Earning Enough? 

Boss Your Salon founder Maddi Cook’s new financial survey suggests you’re not – especially if you’re a business owner

by Amanda |  BUSINESS

Maddi Cook

Hair & beauty professionals need to double their monthly income to cover their cost of living and overhead expenses. That’s the major takeaway of a new pricing research survey by Boss Your Salon. 

The research, which used Boss Your Salon’s pricing calculators, revealed professionals earn an average of £13.25 per hour when factoring in client income. After accounting for non-client-facing work, the actual hourly income falls to £10.19. The results showed an average monthly income (pre-tax and National Insurance) of £1,533.42. Yet to cover the cost of living and overhead expenses, professionals need to earn £3,042 per month, according to Boss Your Salon’s calculations. 

Maddi Cook, Boss Your Salon’s founder, was keen to “get some numbers”, knowing anecdotally from her work with clients that price is a major challenge. The findings highlight that many are not earning enough to meet their basic needs.  

One of the biggest issues in Maddi’s eyes? People thinking in “bums on seat hours” when it comes to their pricing. “So they’d go, ‘Well, I work with clients 30 hours a week’. But I think we’re in this employee mindset of ‘I get paid for the hours that I’m working with clients’. They forget about all the hours that go into running a business,” she said. 

“An employee can down tools at the end of the day. They can finish it Saturday afternoon, and not have to worry about their job until Tuesday. Whereas business owners spend a lot of hours outside of work doing the marketing, booking and rearranging appointments, stock take and ordering. We need to get paid for all that time, because that’s work required to actually get those done.”  

“If it’s just bums on seats, we’re a little bit above minimum wage, which personally I think is terrible.” 

But once you take all the extra work into account, that’s when it drops down below Minimum Wage, or National Living Wage. If someone was on minimum wage in a job in Aldi or an office in the UK, you’d get 5.6 weeks paid holiday. You’d get six months full sick pay. You’d get maternity pay. You get a lunch break where you don’t have to worry about customer acquisition or accounts. So, you would be paid better in a minimum wage job, and you’d also get better conditions and job security.  

With about 44 per cent of respondents from hairdressing, Maddi is keen for hairdressers to realise and value their skills beyond hair. “So many hairdressers say, ‘I’m not good at maths’, and so they avoid it. That infuriates me because you are, you’re a hairdresser! You work in ratios and timings and weights,” she said.  

“If your income does not reflect the hard work that you put in, there is something wrong. Pricing is fundamental; just knowing your numbers is fundamental. It’s getting people to see this as the first and most crucial step before doing any of the other things, like marketing and social media.” 

Finding Success in Any Market: How Salon Owners Can Thrive in the UK’s Varied Markets

Finding Success in Any Market: How Salon Owners Can Thrive in the UK’s Varied Markets

Finding Success in Any Market: How Salon Owners Can Thrive in the UK’s Varied Markets

Navigating opportunities in both competitive hotspots and underserved markets 

by Caitlyn |  Industry News

Unsplash

New data released by beauty and wellness marketplace, Fresha, reveals Blackpool as the beauty and self-care captal of the UK, due to a record number of beauty salons compared to the population. Bournemouth and Glasgow follow closely behind – while Gateshead is last. The study also highlights surprising beauty hotspots beyond major cities, such as Chelmsford, Worthing, and Preston.  

The full data from Fresha can be seen here. 

For hair salon owners and stylists, choosing the right location to open or expand a business is a critical decision. The UK’s hair industry presents a range of opportunities—from bustling markets, where demand for hair services is high but competition is intense, to quieter areas, where the potential for growth lies in less saturated environments. Success hinges on selecting a location that aligns with your business goals, services, and target clientele. 

Fresha summarises this balance: “Those in areas with a high concentration of salons, like Blackpool or Glasgow, face stiff competition but can be reassured by the high demand for beauty services in these hotspots. These may prove profitable areas for budding makeup artists and hairstylists to practice their trade.” 

Unsplash

Understanding High-Demand Markets 

High-demand markets such as Blackpool, with 403 hair salons per 100,000 residents, and Glasgow, which boasts 360 salons per 100,000 residents, offer both significant competition and substantial opportunities. The dense concentration of hair salons indicates a strong consumer demand for hair services—a critical factor for those looking to tap into an established and hair-conscious customer base. 

Success in these saturated markets often hinges on differentiation. Offering specialized hair services, building a distinct brand, or delivering an exceptional customer experience can set your salon apart. The competition may be fierce, but the rewards are considerable for those who can carve out a unique niche or deliver superior quality. High visibility, word-of-mouth marketing, and a loyal customer base can be achieved more quickly in these areas. 

The Potential in Underserved Markets 

Conversely, areas with fewer hair salons per capita, like Gateshead (40 salons per 100,000 residents) or Swansea (77 salons per 100,000 residents), present a different kind of opportunity. These markets may not have the immediate demand seen in larger cities, but they also offer less direct competition and the chance to establish your hair salon as a local leader. 

In underserved markets, the key to success lies in addressing unmet needs. Whether it’s introducing a wider variety of hair services, offering luxury treatments where they are scarce, or simply providing top-notch customer service, you can position your salon as the go-to destination in these communities. With less competition, there is more room to grow and potentially dominate the local market. 

Unsplash

Balancing Risk and Reward: Thriving in Any Market 

The decision of where to open or expand your hair salon should reflect your specific business goals. If you are prepared to differentiate yourself in a crowded market, hair hotspots like Blackpool offer a ready and eager clientele. However, if you prefer to build your brand with less pressure from competitors, exploring less saturated markets might be a better fit. 

Whether you choose a competitive market or an underserved one, both paths offer potential for success. The key is aligning your business strategy with the characteristics of the market. By understanding local demand, differentiating your hair services, and building strong client relationships, your salon can not only survive but thrive in any market. 

The UK’s diverse hair industry offers numerous opportunities for savvy salon owners. Whether you are drawn to the thrill of a competitive hotspot or the untapped potential of a quieter market, with the right approach, your hair salon can achieve lasting success. 

Why Are We Not Talking About The Industry’s Biggest Exclusion Barrier?

Why Are We Not Talking About The Industry’s Biggest Exclusion Barrier?

Why Are We Not Talking About The Industry’s Biggest Exclusion Barrier?

Not Another Salon launches a pioneering initiative for Price Inclusivity

Sophia Hilton

Not Another Salon has been a driving force of inclusivity and innovation in the last decade. Since becoming the world’s first gender-neutral salon in 2017, then continuing to pioneer unique offerings such as silent haircuts and mirror-free experiences that went viral globally, Sophia Hilton, founder of Not Another Salon is taking a bold new step. 

“Inclusivity these days seems to focus so strongly on sexuality, gender, and race,” says Sophia. “While that is hugely important, in order to be truly inclusive we have to consider all aspects of inclusivity, and that includes economic access.”

Not Another Salon are proud to launch this new pioneering initiative, Price Inclusivity, becoming the first salon in the UK to offer a specific number of appointments each month at a reduced cost for individuals on low incomes. All clients have to do is provide an income statement or bank statement and make less than £25,000 a year. 

How It Works
Each month Not Another Salon will allocate a set number of selected appointments and services to be offered at a reduced price. These appointments are designed to accommodate individuals who would like premium salon services but may find them financially challenging. Availability will be on a first-come, first-served basis, to ensure fairness and equity.

Sustainable Quality and Commitment 
“It was tough to create these appointments because after all, we have premium prices for a reason,” Sophia adds. “Our team is among the most highly trained in the country, our rent is high as we’re in a premium location, and the products we use are the best money can buy. We’ve created a menu of appointments and services that we were able to reduce, while still making it viable to our business.” 

Related

Who Is Heading To The Wella TrendVision Awards Grand Final?

Who Is Heading To The Wella TrendVision Awards Grand Final?

Who Is Heading To The Wella TrendVision Awards Grand Final?

Wella Professionals names its TVA 2024 finalist lineup

Wella TVA

Wella Professionals TrendVision Award 2024 finalists have been announced. Finalists are set to compete at the UK & Ireland final in London on Monday 7 October; having been selected from their initial photographic entries, the finalists will take to the stage at Old Billingsgate, London. 

Hosted by Wella Professionals, the TrendVision Award showcases competitors’ creativity and craftsmanship and offers a platform to excel. The categories this year are Colour Visionary (the global category), Craft Visionary (local to UK & Ireland) and XPOSURE Creative Colour (for students only).  

With more than 600 guests expected on the night to celebrate the winners and runners-up, the event remains one of the most exciting moments in the hairdressing calendar, with finalists competing live on the day, before celebrating throughout the night. Not only will the exciting winner announcements take place, but guests can also expect a lavish drinks reception, gala dinner, exclusive hair shows – from leading Wella Artists including Jordanna Cobella and TONI&GUY – after-party, and a luxury gift bag to take home. 

Find the full list of finalists at wella.com

Related

This One Tool Could Transform Your Client Bookings

This One Tool Could Transform Your Client Bookings

This One Tool Could Transform Your Client Bookings

If you’re looking to build your salon brand, consider Fresha a must-have tool to run and grow your business 

Promotion – Fresha

As the social media landscape continues to evolve, having a strong website and social platforms has never been more important for your salon’s online visibility. While great content and engagement will get you so far, there may be one missing ingredient in your perfect progress potion… an online marketplace like Fresha.

Here’s how it works
The marketplace is a hub where potential clients can find, compare, and book services in their local area. Imagine your marketplace profile as your online shop window – it’s the best way for you to make a great first impression and bring new clients straight to your salon’s doorstep.

Most new client journeys start on the internet, and you need to show up in those searches for the best chance of bookings. Having a profile on a platform like Fresha marketplace will boost your local SEO rankings. So, even clients searching on Google are more likely to find your business, especially if you can offer popular services and treatments that set your business apart.

120,000 appointments are booked on the Fresha marketplace every day. Not only is it the world’s largest wellness marketplace, but it’s perfect for showing off your brand, as well as quickly and easily offering discounts or running sales.

A Fresha top tip
Clever pricing is one of your best tactics for winning new clients, and your marketplace profile is there to help you do it. Anyone who browses your services will instantly see how your deals and promotions affect your prices – whether it’s a seasonal flash sale that drives urgency, off-peak pricing to keep your salon busy throughout the day, or last-minute offers to quickly fill un-booked slots.

Treat clients to a better booking experience
With an online marketplace profile, you’ll unlock online bookings for your salon – letting your clients book, rebook, and reschedule their own appointments, 24/7. You’ll cut down your time arranging appointments on the phone and save hours each week, all while filling your calendar even faster.

Nowadays 70 per cent of clients prefer to book online, whether it’s for comfort or convenience, so they’ll love the ease of booking their appointment with you through Fresha. Add clear “Book Now” buttons to your profiles on Google Maps, Instagram, and Facebook, as these are apps your clients use every day.

You can do it all on the Fresha marketplace

With over 18 million monthly users and 120,000 appointments made every day, the Fresha marketplace is the best way to reach new clients, almost effortlessly! Salons typically gain at least 26 per cent more clients after joining the marketplace, and four out of five of those clients return.

Ready to get your salon’s name in lights? List your salon on the Fresha marketplace today, get seen by thousands of local clients, and watch your calendar fill up.

Related

Who won the 2024 L’Oréal Colour Trophy?

Who won the 2024 L’Oréal Colour Trophy?

Who won the 2024 L’Oréal Colour Trophy?

New venue, new era of the UK’s longest colour competition

HeadUp X Calm

Gee-Kent Ho is celebrating a L’Oréal Colour Trophy win, scooping both the North Eastern region and overall prize at the 2024 grand final at London’s Old Billingsgate.

It was a big night also for Brooks & Brooks, with the salon’s Marlon Hawkins winning the London region and second place. Trevor Sorbie celebrated huge success too, as its Covent Garden salon winning third place, and its Brighton salon winning the Southern region. Its artistic director, Giuseppe Stelitano, also presented one of the event’s two hair shows, introduced by Trevor Sorbie MBE himself, who described the young talent as “a visionary”.

L’Oréal Colour Trophy – first place: Gee-Kent Ho, Newcastle upon Tyne

L’Oréal Colour Trophy – second place: Brooks & Brooks, London

L’Oréal Colour Trophy – third place: Trevor Sorbie, Covent Garden

It was also a major night for L’Oréal Colour Trophy itself, celebrating its 68th contest by switching it up a notch with a tech and innovation powered final at a new venue in London’s Old Billingsgate. Around 1,000 attendees enjoyed installations from fashion designer Jack Irving – as seen at On|Off – with hair by Jack Merrick-Thirlway and the Neville’s team during the pre-show reception.

Fashion design by Jack Irvin

The show itself – hosted by Clara Amfo, with help from DJ Lisa Snowdon, Vogue’s Twiggy Jalloh and make-up influencer Hannah Martin – played out on a circular stage with a jaw-dropping video wall. This proved an impressive backdrop particularly during the art team shows, immersing the audience further in the hair artistry presented on stage.

Host Clara Amfo, with Lisa Snowdon, Twiggy Jalloh and Hannah Martin

The first show – MetaBall from Giuseppe Stelitano and the Trevor Sorbie Creative Team – was a breath-taking affair, fitting for a salon brand that’s celebrating its 45th birthday. An amplified display of texture and wig artistry – cherry cola lengths, high pompadours and neon yellow shags – the presentation kicked up into high gear when dancers decked in feathered headpieces, neon green mullets and more took to the stage in a celebration of New York’s ballroom scene, soundtracked of course to a remix of Madonna’s Vogue.

MetaBall from Giuseppe Stelitano and the Trevor Sorbie Creative Team

Robert Eaton and the Russell Eaton Art Team later shared Luminaire, with all models dressed in white bodysuits as the perfect canvas to spotlight the sumptuous hair creations, and for light displays to play across their faces and bodies. This was a fusion of thigh skimming textured lengths kissed with indigo, two-toned precision bobs in lavender and aubergine, and fuchsia and candy pink. With a voluminous cube of textured sunshine yellow and blonde juxtaposed with bleached-out close crops, it was a masterful display of creativity.

And once all the winners had been revealed? It was on to a barn-storming set delivered by TikTok DJ twins ALTÉGO, a properly fitting high-energy climax to the night.

Luminaire from Robert Eaton and the Russell Eaton Art Team

And the winners are…

L’Oréal Colour Trophy – first place: Gee-Kent Ho, Newcastle upon Tyne

Second place: Brooks & Brooks, London

Third place: Trevor Sorbie, Covent Garden

North Eastern: Gee-Kent Ho, Newcastle upon Tyne

North Western: Saks Hair, Newark

Scotland: Jason Hall Hairdressing, Edinburgh

Western: Zoe Hodgkiss – Hair Artistry, Holsworthy

Eastern: Strictly Xtended, Bishops Stortford

Northern Ireland: Peter Mark, Lisburn

Southern: Trevor Sorbie, Brighton

London: Brooks & Brooks, London

STAR Award: Peter Mark, Belfast

Colour Specialist Award: Amelia Hall, Frances Marshall, Sunderland

Afro Award: Headmasters, Soho

Moving Image Award: Lauren McNeela, Stripe Colour Studio

Future Talent Award: Alex Doherty, Brandon Marchant, Elsie MacDonald, Francesca Bay, Isla McKelvie

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