Hi everyone, Im still relatively new to the nail industry and had set my goals on being mobile. However at my local hair salon yesterday, been going there for 7 years, my stylist asked me if I wanted to have a nail table in her salon. It would be a new venture for her as well as she doesn't have any beauty rooms, just hair. It would be just on a Saturday as I have a full time job in a completely different industry, but I've accepted her offer and am quite excited. We are yet to sort out financials as she needs to speak with her accountant but what is the norm, percentage on what you earn or a flat set rate? And how would my tax work out? Can I be an employee at one job and self employed at another? Any help would be appreciated, thanks
Rent dilemma
- Thread starter Deeders
- Start date
Help Support SalonGeek:
The % split is usually 60/40 to who ever buys the products. Daily rents vary largely on area, & location. As a rough guess id expect around £30-40... Unless you rented there the full week which would work out cheaper per day.
Yes you can be employed & self employed.
You have 3 months to register as SE from your 1st paying client. Keep all your receipts from products, uniform & rent, & amounts paid by clients in your appointment book.
You can do your tax yourself online in April 2014. Add up all your expenses (outgoings) & incomings. You will also need your P60 from your employer at the end of your tax year & that information will need entering too.
If you earn (as a total in both jobs) over £9,600 you pay 20% tax.
If you have spent alot of money on your new business ie equipment, stock, uniform you may even make a "loss" in your 1st tax return. If you do, there will be no tax to pay... You will pay tax on your profit.
Hope that makes sense. Xx
Yes you can be employed & self employed.
You have 3 months to register as SE from your 1st paying client. Keep all your receipts from products, uniform & rent, & amounts paid by clients in your appointment book.
You can do your tax yourself online in April 2014. Add up all your expenses (outgoings) & incomings. You will also need your P60 from your employer at the end of your tax year & that information will need entering too.
If you earn (as a total in both jobs) over £9,600 you pay 20% tax.
If you have spent alot of money on your new business ie equipment, stock, uniform you may even make a "loss" in your 1st tax return. If you do, there will be no tax to pay... You will pay tax on your profit.
Hope that makes sense. Xx
Wow, put like that it doesn't seem viable!!! If I averaged £100 per day as an example and the salon took 40%, I will take £60 and out of that have to buy more stock, plus pay my taxes - seems I would be working for next to nothing! Or am I missing something lol !!! Thank you for the swift response by the way, much appreciated
What services are you offering? & what are you intending to charge?
This is why you cant go in too cheap. I personally don't like the % split, the owner then has a vested interest in your business. When they should only be your landlord, as you do not work for them.
They may come back with different figures, but thats the industry average.
Again it does depend on area & location of the salon too.
Let us know what they offer you, & of course you can negotiate. Or come to an agreement for your first few weeks.
Xx
This is why you cant go in too cheap. I personally don't like the % split, the owner then has a vested interest in your business. When they should only be your landlord, as you do not work for them.
They may come back with different figures, but thats the industry average.
Again it does depend on area & location of the salon too.
Let us know what they offer you, & of course you can negotiate. Or come to an agreement for your first few weeks.
Xx
squidgernetball
Ubergeek
All true, but if you took £100 and paid £30 rent you still have all the stock to buy. I would say £30 for a Saturday is quite high for a nail table, but I'm not too sure!!!
I'm not keen on percentage split. As a salon owner, I prefer to know I have XX amount coming in, come hell or high water - regardless of holidays, sickness etc.
Check the hours you can work - do you have to finish when she finishes, or can you stay later/start earlier?
As for the tax thing - easy. Unfortunately because you're in another job, you will pay tax on all profit. As has been said, keep all receipts and anything work related!
Good luck x
I'm not keen on percentage split. As a salon owner, I prefer to know I have XX amount coming in, come hell or high water - regardless of holidays, sickness etc.
Check the hours you can work - do you have to finish when she finishes, or can you stay later/start earlier?
As for the tax thing - easy. Unfortunately because you're in another job, you will pay tax on all profit. As has been said, keep all receipts and anything work related!
Good luck x
I'm offering the CND range, shellac, vinylux, BL, and nail art also with their products. I'm currently in the process of compiling my price list, ie ringing around other local salons as a perspective customer to get an average charge. I agree I don't want to be going in too cheaply but I still have to consider my local market and I was thinking of setting up with some type of % off offer as a client incentive. I won't be starting until after Xmas so we have time to negotiate etc but I've gone from being really excited to a bit disheartened although I will wait as suggested to see what her offer is and go from there. Also I don't want things to become difficult between us as she's been doing my hair for so long and she us damned good!!!! I will be back once there's an offer on the table and see how it pans out. Thank you much for your advice x
Yes thats good to see what others locally are charging, make sure you start as you mean to go on... Charging for nail art, soak offs so check those out too.
If somewhere charges £30 for shellac & that includes soak off, or one charges £25 but soak off is £5 etc.
But you ideally need to incorporate your rent too, so just wait til you know what you will be paying divide it by your hours working, & find out your costs per service in products, how long each service takes you, & what you'd be happy earning for that time.
You may well make a loss in your first year, many businesses do as set up is expensive, it takes a while for your name to get out there, & get a good reputation.
Good luck 🍀 xx
If somewhere charges £30 for shellac & that includes soak off, or one charges £25 but soak off is £5 etc.
But you ideally need to incorporate your rent too, so just wait til you know what you will be paying divide it by your hours working, & find out your costs per service in products, how long each service takes you, & what you'd be happy earning for that time.
You may well make a loss in your first year, many businesses do as set up is expensive, it takes a while for your name to get out there, & get a good reputation.
Good luck 🍀 xx
I've had a chat today with the salon owner who has apologised but hasn't been able to find out any rates to help her decide what to charge me to rent a table! She's decided on the rent flat rate tho and not a percentage so that's a start - she has asked if there's any way I could find out what the going rate is for my area, but to be honest I wouldn't know where to start! Any help would be appreciated as I'm looking at starting on the first Saturday after New Year and need to know my outgoings etc. Do I just ring other salons and blatantly ask how much?!! Not very good at this side of it I'm afraid lol
laurakate
Well-Known Member
Id have thought that this would be a good innings for one day.
Deeders id look online & see if there are any advertised online in your area...
If not, id guess calling other salons to see if there is a nail desk to rent available, & if so how much.
Or... Post a new thread with your area asking other geeks what they are paying/ charging xx
If not, id guess calling other salons to see if there is a nail desk to rent available, & if so how much.
Or... Post a new thread with your area asking other geeks what they are paying/ charging xx
It's all been finalised!! My rent will be £20 for my Saturdays in the salon and I start this week!! I'll buy all my stock and I'm responsible for all my bookings. My new venture begins!! Thank you all for all your advice
Absolutebeautyx
Well-Known Member
Congratulations & good luck 😃 xx
