Need some inspiration! & can you own a salon & have a job too?

[LauraLush]

Hi geeks
Im slowly running out of gas to keep going with my salon. For nearly 2 yeRs now, I've been quite happily (or tryin to convince myself I'm happy!) bobbing along running everything all on my own and working 50-60hr weeks for absolutely diddly squat.. But I just can't see light at the end of my tunnel at the minute. Me and my partner moved back home to my parents a year go to help us because things were so hard financially.. I can't see ever being able to move out again at this rate. The stupidly frustrating thing is that the salon is always really busy, the staff are brilliant, things are definitely improving all the time, I've just introduced a software system, I can't really put the prices up as i think they wouldn't be competitive within the area, I've also just got new chairs, a new mirror island unit to make 2 new styling stations, I've introduced a sunbed to the business 2 months ago which is getting busier - but there is never money left and it's getting harder and harder to live hand to mouth all the time and day to day - just to pay my car insurance & my mobile bill would be nice! :-S
Basically I'm just getting to the point where I think is life always going to be this difficult? I always say to myself 'work to live not the other way round!'
So now im considerin my options..
Does anyone know if it'd be a good option to work maybe 20-30 hours in another job (I've got a brilliant full time assistant salon manager to run salon while I'm not there).. And then just work in salon 1-2 days a week, but atleast that way I can earn some money & not be so negative like it's making me right now! :-(
Any advice anyone could give me would be greatly appreciated on any of the above! Ha.. Thanks for reading.
Thanks all, Laura. X

 

[persianista]

There are a few sides to this problem. YOU should be extremely profitable as a worker in your salon as there is no wage bill attached to the income you generate. Taking you out to go and work a few quid an hour in another salon is a non starter really. Would you employ another salon owner? Would you not feel it is a bit of a security risk?

You sound as though you are trying to grow too quickly. Lots of cash spent in the last few months for a two year old salon.

If you are busy, then put your prices up a small amount. If you are seeing 100 clients a week, a £1 increase on each bill is an extra £100 a week for no extra work.

Most salons fail through cashflow problems, not lack of profit. Try and conserve cash wherever and whenever possible. Stop spending on the salon for a while. New chairs etc are nice, but it takes a lot to earn the money back from them. Question every purchase.

Could you open an extra day for the next 6 months? open 7 days and use that "assistant manager" to generate further income. You can both work 5 days, just on different days.

I know this advice is harsh, but it will work. x

 

[soriminah]

I can't understand if you are working 50-60 hours and the salon is really busy, why you are broke...

Do you have too much stock you can't sell - salons can end up with tens of thousands of product sitting around.

Do you have staff that are sitting around without clients but you are still paying them - maybe look at sub-contracting them.

If you are paying an assistant manager, utilise her better. Have one of you working at a time...open longer hours and more days and rotate the hours with her.

Sounds like a major problem is plowing all your money back into the business. Limit your spending on new items to 1 major purchase a year. Updating things just for the sake of it is a big waste of money...only replace things if they are broken and essential.

I also like the idea of raising your prices by $1 - can make a hugh difference over the course of 1 year.

 

[LauraLush]

Thanks v much for your help and advice. I think you're right, I do plough every penny back into the salon and I think that's a massive part of the problem, most of it is probably unnecessary when I think about it. I'm just going to try to drive the overheads down as much as I can and keep going but worker smarter not harder!
Thanks, Laura.

 

[salonworldwide]

Thanks v much for your help and advice. I think you're right, I do plough every penny back into the salon and I think that's a massive part of the problem, most of it is probably unnecessary when I think about it. I'm just going to try to drive the overheads down as much as I can and keep going but worker smarter not harder!
Thanks, Laura.

I had the same problem! I ploughed all the spare cash back into my business then got frustrated when I had no money!! I have 6 full time staff.. So now I've put my manageress in charge of my salon,I only work there on a fri+sat+ I now run an online business from home,so I now use any spare salon money to buy stock for my online business. It helps my salon-cheaper products+also helps combat the massive vat bills we were getting!! Win win!! Lol Hth

 

[Chai]

I had the same problem! I ploughed all the spare cash back into my business then got frustrated when I had no money!! I have 6 full time staff.. So now I've put my manageress in charge of my salon,I only work there on a fri+sat+ I now run an online business from home,so I now use any spare salon money to buy stock for my online business. It helps my salon-cheaper products+also helps combat the massive vat bills we were getting!! Win win!! Lol Hth

I love this response !!! Sounds weird but im in the process of going this way with my shop and online biz and was wondering if it's possible but ur post just made my day!!!!!!!!!!!!!!

 

[salonworldwide]

I love this response !!! Sounds weird but im in the process of going this way with my shop and online biz and was wondering if it's possible but ur post just made my day!!!!!!!!!!!!!!

Haha... Thanks!!! It's hard work though!! Good luck