Immediately after passing your Cosmetology State Board Exam you will need to make many important career choices. And one of the choices that will probably impact your future career more than any-other, is one you will have to make with no experience, few facts and little reliable information.
-should you find a job as an assistant,
-should you seek a job at a commission salon, or
-should you rent a station?
There are pros & cons to each of these choices, and in previous Blog Posts we have discussed all of them:
Blog Title: Commission or Booth Rental (October 16, 2016)
Blog Title: Things Nobody Told Me, Numbers1, 2 and 3 (October 14, 2016)
This Blog will provide you with some dollar amounts to determine if you can afford to rent a station.
Rents vary widely from one location to another. From big cities to small towns; and from wealthy areas to economically depressed neighborhoods. But it is safe to assume the average station / booth rental will be about $150 per week in most places you might want to work.
In addition to the rent, most cities will require you have a Business License of your own, not that of the salon. And most salons will require you have your own Business Insurance. Your State Board of Cosmetology is a good source for finding insurance companies with low rates.
– phone (that cell phone in your pocket is not Free),
$ 600 = Rent,
$ 10 = Business License,
$ 15 = Business Insurance,
$ 200 = Supplies,
$ 200 = Advertising,
$ 100 = Phone
$ 100 = Miscellaneous
$ 1,235 divided by 4 = $ 308.75 per week.
Long Story Short:
Do you have enough customers of your own to pay $ 300 per week, week after week?
If you don’t, what is your plan to find enough customers, week after week?
Because no matter how busy the salon is, the salon will NOT be giving you any customers – all the customers you see already have a stylist and that stylist is NOT giving you any of his / her clients!
To Sum It Up:
– salon will NOT provide clients,
– you will need to bring in $ 300 week after week to pay your bills,
– this leaves Zero for you, and
– If you bring in nothing, you will still owe $ 300.
– salon will provide clients,
– if you bring in $ 300 per week, you will get half,
– this leaves $ 150 for you, and
– If you bring in nothing, at least you will not be in debt and owe $ 300.
The math is simple; use it and decide if now is the time to rent a station.