New to renting a chair, any advice appreciated

[jen19855]

Hi all!
I have recently taken a leap of faith and have agreed to rent a chair as a barber in a salon, the salon wants to pass all male clients on to me as barbering is my main area of expertise.
I am leaving an employed position with an hourly wage.
Ive never been self employed before and was just hoping for advice or pearls of wisdom for the self employed out there!
some areas I need advice on
-insurance
-keeping track of income and outgoings
-paying tax
-advertising

but if you can offer any advice in different areas, it would all be appreciated!
Thank you in advance

 

[Caroline_music_]

I found Salon Gold are very reasonable for insurance. You could keep track of income by getting a spreadsheet on your computer or iPad or receipt book for the takings and keep track of your takings each day/month that way or you can refer to your diary and add up your takings from that. Keep on top of that as it can be a pain if you fall behind. Keep a bag or large envelope for all your receipts and don't forget to print off any receipts you get from online purchases. Get an accountant (independent ones are better value) and get them to do your tax return, it's complicated and they will work out depreciation and know how to work out the best way to pay less tax if possible (if you want that although don't feel guilty about that you're a sole trader not Amazon!). You'll need to tell inland revenue and start paying your own national insurance too but you can do a direct debit. Get business cards printed and offer a 'recommend a friend' incentive or buy a stamp and do a loyalty offer. Once you start getting busier put your prices up. Other advice would be relax and be yourself but stay professional yet friendly, don't ask where they're going on holiday or something for the weekend sir and you'll be grand. Good luck!!