Take the leap & go self employed?

[Moni23]

Hey everyone I’m wanting some advice regarding going self employed, I’ve been hairdressing for the last 15 years employed with a fully booked column & great loyal clientele.. but with lock downs & covid it’s really made me think about what I want & I want to earn more whilst working the hours I want too rather than working my back side off for my bosses & a capped salary.. I have been presented with a new contract & im thinking is this the time to make the leap rather than staying & signing a new Contract when I’ve been thinking of leaving for a while.. the money is the biggest reason I am wanting to make the leap & also the capped 4 Saturdays a year Holiday
It’s a scary thing making the leap especially when I’m not unhappy where I am but I want to earn more & be my own boss.. do you think I’m doing the right thing

 

[Trinity]

Only you can decide what is right for you, we have no idea of the way your life plays out. However, there are pros and cons to both situations and you need to weigh them up for your specific situation.

Remember, you only get paid when you work if you are self employed. No clients = no wages. No holiday pay. No sick pay. You are responsible for paying your tax and national insurance, it's not hard but it needs to be done. You need to be on top of your paper work, bill, expenses, etc. Advertising, website, emails, appointment booking, etc.

Where will you work from? Mobile, consider the costs of car/insurance/fuel/time to travel/etc - set your prices accordingly. Work from home? ensure you have all the permissions needed such as mortgage provider, local council, etc. Chair rent? Ensure they are actually on a self employed basis not dictating your hours, etc. which is not self employed. How will you work your hours? every day, all day hoping for footfall or specific days and hours?

All the above aside self employed can be great, everything you earn is yours (after tax etc.) your time is your own, you don't answer to anyone about why you took a 4 hour lunch, etc.

Nothing is permenant. If you decide to become self employed and hate it you can always get a job again and go back to employment.

Most people only regret the things they didn't do, not the things they did.

 

[Moni23]

Thank you so much for taking tree time to reply to me, I am going to take leap I don’t want to look back with regret & I’m also pretty sure the company I currently work for would have me back if It didn’t work out if not somebody else would employ me, I’m super passionate & love the industry and need to give it a try. Thank you so much again for your advice

QUOTE="Trinity, post: 2686542, member: 471"]
Only you can decide what is right for you, we have no idea of the way your life plays out. However, there are pros and cons to both situations and you need to weigh them up for your specific situation.

Remember, you only get paid when you work if you are self employed. No clients = no wages. No holiday pay. No sick pay. You are responsible for paying your tax and national insurance, it's not hard but it needs to be done. You need to be on top of your paper work, bill, expenses, etc. Advertising, website, emails, appointment booking, etc.

Where will you work from? Mobile, consider the costs of car/insurance/fuel/time to travel/etc - set your prices accordingly. Work from home? ensure you have all the permissions needed such as mortgage provider, local council, etc. Chair rent? Ensure they are actually on a self employed basis not dictating your hours, etc. which is not self employed. How will you work your hours? every day, all day hoping for footfall or specific days and hours?

All the above aside self employed can be great, everything you earn is yours (after tax etc.) your time is your own, you don't answer to anyone about why you took a 4 hour lunch, etc.

Nothing is permenant. If you decide to become self employed and hate it you can always get a job again and go back to employment.

Most people only regret the things they didn't do, not the things they did.
[/QUOTE]

 

[BannerPenguin]

Make sure you have plenty of savings

It's expensive to get your marketing off the ground and to build your clientele up again from scratch so you'll need money in the bank to cover your personal life for 6-12 months ideally while the business builds.

Whilst being self-employed can be great it can have its downsides so just something to think about. A lot of people assume you can work fewer hours and earn more but if you aren't careful you can work 100hr weeks and earn minimum wage if you're lucky.

 

[Gaylebutterfly37]

I was 11 years in my employment when I decided to take the opportunity to work for myself at the start Of this year. I’m just over a month in and I honestly do not regret it. I do recommend having savings to live off whilst you build your business. That way you will be able to put everything you earn back into the business for stock etc. I live in a small town so word of mouth has brought clients to me. Social media platforms really help too! I haven’t been able to pay myself a proper wage yet however, that’s expected when you start any business.
I wish you all the best. It’s scary but I don’t think you will regret the move

 

[Marie Scott]

Hey everyone I’m wanting some advice regarding going self employed, I’ve been hairdressing for the last 15 years employed with a fully booked column & great loyal clientele.. but with lock downs & covid it’s really made me think about what I want & I want to earn more whilst working the hours I want too rather than working my back side off for my bosses & a capped salary.. I have been presented with a new contract & im thinking is this the time to make the leap rather than staying & signing a new Contract when I’ve been thinking of leaving for a while.. the money is the biggest reason I am wanting to make the leap & also the capped 4 Saturdays a year Holiday
It’s a scary thing making the leap especially when I’m not unhappy where I am but I want to earn more & be my own boss.. do you think I’m doing the right thing

It's better the devil you know! Than the devil you don't. Look at all the pros and cons of both situations and doublely check your new contract. Covid has hit us all very severly Don't be fooled into thinking that all your loyal clients will follow you because they won't. However, there is nothing stopping you from doing employed and self employed and don't let anyone tell you can't. But if you sign a new contract with your current boss they are bound to have a radius clause(usually 3 miles) so be careful. Good luck in what ever you decide.

 

[gc2233]

Employed = someone else booking your appointments, marketing, book keeping, guaranteed wage and holiday pay, you can concentrate on your skills, have opportunities for promotion/advancement in the right job.
self employed - work your own hours, choose your own clientele, be independent, manage your own social media, marketing, books. You need a reliable car and insurance. Don’t get time off. Have less product availability and advanced training can be expensive.
I managed a salon of 30 staff and then went self employed. I loved both at different times of my life. Self employed is so rewarding though in that you make your own choices and all the money you make is a big pat on your own back for how hard you work.
marketing on Facebook and Instagram are really good inexpensive ways of advertising. Also market yourself with mums clubs, preschool groups etc as these types of clients have busy lives with young kids that are often easier to haircut at home. And of course word of mouth with your existing clientele is the best.
It is harder to get a hold of some products so good to keep in touch with a friend who works in a salon when you need something specific.
You tube is great to keep up with edication and insta for trends although your at home hair client isn’t always the same as an Instagram client. I think post Covid home hairdressing is a good move.
I hope you enjoy your journey and wish you the best of luck!

 

[Moni23]

Thank you for taking the time to reply I really appreciate it great advice

Make sure you have plenty of savings

It's expensive to get your marketing off the ground and to build your clientele up again from scratch so you'll need money in the bank to cover your personal life for 6-12 months ideally while the business builds.

Whilst being self-employed can be great it can have its downsides so just something to think about. A lot of people assume you can work fewer hours and earn more but if you aren't careful you can work 100hr weeks and earn minimum wage if you're lucky.

 

[Moni23]

Thank you for you reply

Employed = someone else booking your appointments, marketing, book keeping, guaranteed wage and holiday pay, you can concentrate on your skills, have opportunities for promotion/advancement in the right job.
self employed - work your own hours, choose your own clientele, be independent, manage your own social media, marketing, books. You need a reliable car and insurance. Don’t get time off. Have less product availability and advanced training can be expensive.
I managed a salon of 30 staff and then went self employed. I loved both at different times of my life. Self employed is so rewarding though in that you make your own choices and all the money you make is a big pat on your own back for how hard you work.
marketing on Facebook and Instagram are really good inexpensive ways of advertising. Also market yourself with mums clubs, preschool groups etc as these types of clients have busy lives with young kids that are often easier to haircut at home. And of course word of mouth with your existing clientele is the best.
It is harder to get a hold of some products so good to keep in touch with a friend who works in a salon when you need something specific.
You tube is great to keep up with edication and insta for trends although your at home hair client isn’t always the same as an Instagram client. I think post Covid home hairdressing is a good move.
I hope you enjoy your journey and wish you the best of luck!

 

[Moni23]

Thank you everyone for all the advice, I really appreciate it xx

 

[ChloeBluNails]

My advice as somebody who went solo last year with no clientele (just started nails 2 years ago right when COVID hit), and my best fact to share is, the first year or two of a start-up business, you don't make a profit, you will be lucky if you break even. You have the skills and advantage of clientele that will definitely make you more successful than me when I started. But try to be smart about it, some of your clients might not follow you, there might be a large legal fee you had not found in your research, you might have a hard time marketing even though you have the skills for the service. As a lot of people said on here try to have some money aside for it.

 

[gc2233]

Just on the finances topic - can you go part time at work first? Until you build up your clientele? I know you can claim universal credit to top up a wage/self employed wage and get help with rent council tax etc. for first 12 months of self employment but I think you there may be rules on how you came to be self employed I.e may have to have been unemployed/made redundant/fired not just chosen not to work. You would have to check it out and give them a call.

 

[House Beauty]

Hey everyone I’m wanting some advice regarding going self employed, I’ve been hairdressing for the last 15 years employed with a fully booked column & great loyal clientele.. but with lock downs & covid it’s really made me think about what I want & I want to earn more whilst working the hours I want too rather than working my back side off for my bosses & a capped salary.. I have been presented with a new contract & im thinking is this the time to make the leap rather than staying & signing a new Contract when I’ve been thinking of leaving for a while.. the money is the biggest reason I am wanting to make the leap & also the capped 4 Saturdays a year Holiday
It’s a scary thing making the leap especially when I’m not unhappy where I am but I want to earn more & be my own boss.. do you think I’m doing the right thing

Why not start being self employed on the side?

I did this for years, and slowly went from full time recruitment and on the side spray tanning, to full time temp with regular weeks off to do beauty, to part time cleaner and doing beauty every other hour of the day...to full time beauty.

It was right for me to go full time self employed when I was exhausted from doing both. It was the right time and it was only a couple years before I was earning more than before.

The only caution is that since covid, many people aren’t ready to go back to a salon..Im sure you can gauge this better for yourself as everyone needs a haircut but not everyone has beauty as a priority.

Its been hard for a lot of us and even my hairdresser friends have empty salons, with one stopping and closing down and another with one client a day in an empty salon.

Maybe set up a website and mention it on your personal socials and see how it goes and do a bit of days off.

Plus you can always negotiate a new salary if you decide to leave altogether. ‘I need this much money to stay. I love my job but I need to pay my bills.’ A cap on wages is only good when you actually have staff that are pushovers. I appreciate they may not be able to afford you but then that should tell you you’re worth more.

 

[Moni23]

Why not start being self employed on the side?

I did this for years, and slowly went from full time recruitment and on the side spray tanning, to full time temp with regular weeks off to do beauty, to part time cleaner and doing beauty every other hour of the day...to full time beauty.

It was right for me to go full time self employed when I was exhausted from doing both. It was the right time and it was only a couple years before I was earning more than before.

The only caution is that since covid, many people aren’t ready to go back to a salon..Im sure you can gauge this better for yourself as everyone needs a haircut but not everyone has beauty as a priority.

Its been hard for a lot of us and even my hairdresser friends have empty salons, with one stopping and closing down and another with one client a day in an empty salon.

Maybe set up a website and mention it on your personal socials and see how it goes and do a bit of days off.

Plus you can always negotiate a new salary if you decide to leave altogether. ‘I need this much money to stay. I love my job but I need to pay my bills.’ A cap on wages is only good when you actually have staff that are pushovers. I appreciate they may not be able to afford you but then that should tell you you’re worth more.

Thank you so much for your reply, My employer has offered me a big pay rise to stay, so I now have to have a really good think about staying In a guaranteed wage & being able to go home at night with no stress, or still taking the plunge & going self employed as I can be my own boss with my own brand & potentially earn more than they have offered me in the long run I’m going to have a good think xxx

 

[Penketh_Beauty]

Why not stay where you are for now and use the time to get a plan of action together? Then you can keep earning whilst doing your research and working out how to make self-employment viable for you. I'd strongly recommend doing a few business webinars on starting up a new business/marketing/bookkeeping etc so that when the time comes you're fully ready to go. Good luck!

 

[House Beauty]

Thank you so much for your reply, My employer has offered me a big pay rise to stay, so I now have to have a really good think about staying In a guaranteed wage & being able to go home at night with no stress, or still taking the plunge & going self employed as I can be my own boss with my own brand & potentially earn more than they have offered me in the long run I’m going to have a good think xxx

Congrats on the payrise, well done!

Good luck with whatever you decide to do next

 

[Moni23]

Congrats on the payrise, well done!

Good luck with whatever you decide to do next

Thank you so much

 

[ChloeBluNails]

Thank you so much for your reply, My employer has offered me a big pay rise to stay, so I now have to have a really good think about staying In a guaranteed wage & being able to go home at night with no stress, or still taking the plunge & going self employed as I can be my own boss with my own brand & potentially earn more than they have offered me in the long run I’m going to have a good think xxx

Congrats! if you are still thinking about going solo in the future, maybe also consider investing in private classes. I did one with a local nail competition judge and really advanced my skills. It was not cheap, but it was a great investment.