I am often asked the question, how much does a salon owner make? Maybe you are wondering the same thing. So here it goes. Most of my salon owner clients bring home between $120K to $200K per year. This for a salon that generates between $600K to $1M in service sales per year.
Now if you want to know whether that is REALISTIC for you, I first need to talk some hard truth. I really depends on how you build your business. The truth is that most of these salon owners came to me when they were broke. In fact, they were completely in debt and barley keeping the lights on. They were exhausted and losing their passion for the business. They were tired of working so hard to make so little money.
How Much Does a Salon Owner Make – Really?
Now let’s talk about building true Freedom & Wealth. The ultimate goal of any entrepreneur is having the freedom of time to FOCUS on what’s important. But as we now know, the business often controls the owner, and that couldn’t be more true than for salon owners. Everyday is a new adventure in salons. Clients running late, staff calling in sick last minute, stylists running behind and the phone ringing nonstop while customers are waiting to cash out.
Then there are the regular things like employee situations, salon traffic, entertainment, music, etc… not to mention the fact you’re probably doing clients in your own chair throughout the day with everything else going on. As an owner, you can easily find yourself reacting to one thing after the next. Suddenly the day seems to have no purpose other than being there to answer everybody’s questions and handle problems. If you had a plan, it’s usually out the window by the time finish your first cup of coffee.
This all leads to a business that makes no money and wears you down.
How Do The Top Salon Owners Make Money?
Creating freedom and wealth is about having control over all these things and truly building a business model that is flawlessly designed and implemented for all your staff and clients to follow. The list below lays out the essentials to creating a calm happy work environment and smooth flow throughout the day. Once you’ve implemented these things, you will begin to step back and watch your business practically run itself.
Creating freedom is about having control and building a business model that is flawless…
Here are some Key Steps to Building Your Freedom & Wealth
First, think about how you show up to your business. Decide whether you want to be a stylist, or truly become the CEO of your business. So many salon owners struggle with this. They can’t let go of their clients and are consistently booked 40 hours a week. Trying to run a company from behind the chair is a game you just can’t win. The most successful salons have an owner that spends 80% of their time running a company, not doing hair.
Learn to Create a Legendary Client Journey
You need a flawless system of handling clients from the moment they begin their relationship with your salon. This includes everything to how they are handled on the phone, at check-in, throughout their time in the salon, consistent communication across the entire team, check-out, pre-booking, follow-up, etc. The most important thing is to have a company-wide system in place that all team members learn and follow.
Embrace Your Team
Everything from hiring the right talent to loving your team. Just as there is a client journey, there also needs to be a journey for your staff members. This includes everything from interviewing, hiring, on-boarding, training, and development. Your team members are also your clients. In fact, they are your most important clients and you need to provide a blueprint for them to grow and be wildly successful.
Implement a Signature Consultation
We teach how to have crystal clear communication during each and every client. The benefits of a perfect consult will guarantee the client has complete engagement and buy-in to the service and next steps. The staff will LOVE the results and thrive as they become experts at the communication of the service, salon values and customization for their clients.
Automate All Your Salon Procedures and Guidelines
We help our owners build a salon manual that includes each and every system that you implement. You develop a training set of procedures that holds everyone accountable. It will create a level of professionalism across your entire team and allow the true leaders to flourish. As a result, this will enable you to empower them to keep each other on track.
Branding and Marketing is Not Just About Social Media and Advertising
It’s about building a tribe of heroes in your community. There are endless ways to create a buzz through events and getting involved. Once you create the time and space and freedom in your business and life, you’ll be able to create and develop meaningful relationships. Your commitment and contribution to the many things around you will open an entire world of friends and loyal customers that will bring referrals and endless opportunities to your salon.
In Summary
The answer to “how much does a salon owner make” really depends on how you build your business. Moreover, it depends on how you’re showing up to your business. If you would like to learn more about our approach, I would urge you to schedule a complimentary discovery session with our Salon Cadence team. Learn more about our programs here!