Self-employed or employed?

[Frenchie88]

Hi I’m just looking for any insight to anybody’s experiences when converting from being employed within a busy salon to self employed within the same salon.
Was it worth it? Did it go smoothly? Any recommendations? Things you wished you knew before hand? Stock? Rent fees? Accountancy fees?

Any info muchly appreciated

Thankyou xx

 

[Lilhen2t]

if you are working as part of a busy salon its a no brainer. you have a healthy flow of clientele no outrageous set up costs and stand to take home a healthy chunk of money after paying your rent. I can't see what would hold you back? however if you are having trouble filling your column and don't have a steady stream of clients I would think very carefully. hope this helps. have you started yet or are you still in the process?

 

[Frenchie88]

Not started yet. Future plan for end of the year possibly. I was just trying to obtain as much info and peoples experiences first.

 

[AcidPerm]

It depends on the terms offered by the salon owner. A 70/30 split to the owner isn’t that great. A high daily rent can be equally problematic.
No point working your backside off if you come out with less than minimum wage.

You need to work out your equivalent income after deducting your rent/percentage charges, product costs, income tax and NI, public liability insurance, pension contributions, health insurance or savings to cover loss of income if sick or on maternity leave, ongoing training fees etc.

Also, sometimes employers struggle to view you as a self employed separate business within their salon and continue try to treat you as employed staff, maybe trying to dictate your prices, telling you that you can’t take a holiday when you want to, getting involved with client disputes etc.

 

[Frenchie88]

Luckily I’ve worked for my boss for over 15years & have a brilliant relationship with her. She’s offered to help me with the basics eg books etc. We haven’t talked in-depth logistics yet. As I’m still trying to obtain info on general outgoings etc as I’ve never done it & neither has anyone at our salon. So its really new to us both.