Tag results for > Costs

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Calculate your costs per minute

To define your pricing in the best possible way you need to take 3 things into consideration. The required lowest price based ...

Calculate your profit

As soon as you know your annual or monthly running costs (material, overall and employee costs, including salon owners wage), yo ...

Calculate your running costs

The following 3 cost elements are important to define as accurately as possible to generate a rough calculation of how your turn ...

Create a financial plan

Consider the following steps as a basis for working out your financial needs: First of all estimate how much money you requir ...

Financing a new salon

The more to the point and accurate the figures are the bigger the chance of preventing any unexpected surprises or payment probl ...

Finding the right place

In looking for your ideal salon premises, you should consider options that help you operate effectively without excessive costs. ...

How much capital will I need?

Do I have enough capital to survive the launch phase? Financial plans are often calculated far too optimistically and your own r ...

Introduction to salon finances

Most salon owners are also hairdressers and so have made the transition from an employee working in someone else's salon to havi ...

Leasing premises

Leasing Leases typically have agreements of between three to 25 years and can offer long-term stability. However, lease lengths ...

Paying Tax: Outlining the basics

Tax for the self-employed Self-employed people pay tax on their business profits, not on what they pay themselves. Profit equal ...

Performance related pay

Performance related pay is meant to directly correlate efficiency/productivity and wage level and is typically based on a percen ...

Renting or buying?

Renting premises Renting premises suits many hairdressing salons and there is a wide range of commercial premises available. Th ...

Searching for premises

Here is a list of questions you may wish to consider when looking for a location for your salon: What are my requirements? D ...

Setting up your own business

One commonly used interpretation of ‘setting up your own business' is that you are busy constantly ...and that's not far from th ...

Target profit by retailing

The average client expects a salon professional to advise on products they can use at home and appreciates your professional adv ...

Target setting and goal management

A desire for excellence in performance is not the same as a commitment to excellence. An inspiring way to reach your business go ...

The importance of a business plan

Be prepared to spend time in the planning stage that will help save you from many a hazard on your business journey. A business ...

VAT: How it works

Once your business turnover reaches a certain level, you will have to register for VAT. This means that whenever you buy or sell ...

What are the monthly costs of running the salon?

Your most important building block is a thorough planning of the costs you will incur and the income required to cover those cos ...

What level of income do I need to cover my costs?

If you know your monthly costs, staff costs and the cost of materials, calculating your minimum income requirement is easy. How ...

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