Deciding whether to make the leap to booth rent is a big move in your stylist journey. It’s not just about money; it’s about freedom, responsibility, and finding the right fit for your career goals. So how do you know when it’s time to make the switch? Let’s break it down with some tips to help you decide.
How are Your Finances?
The obvious starting point -->Look at your monthly income and expenses. If your commission payouts are higher than what you’d pay in booth rent (and covering supplies), you’re in a good position to switch.
Do you Want More Creative Freedom?
Do you dream of choosing your own products, curating a unique client experience, or running your own promotions? Booth rent gives you the independence to run your business your way. This is perfect for stylists who want to experiment with their craft without needing approval.
Be prepared to manage inventory and marketing. Freedom is amazing, but it comes with responsibility.Are you Confident in Your Client Retention?
Are you Confident in Your Client Retention?
Making the switch means relying on your ability to bring clients with you. If you’ve built strong relationships and have a loyal base, booth rent could be the next step.
Ask Yourself: Will most of your clients follow you to a new salon? If you believe that at least 2/3 will follow you, you’re likely ready.
This Is Now Business Ownership
Booth renting is essentially running your own small business. From taxes to scheduling to budgeting, you’ll take on responsibilities that a commission salon typically handles for you. If you feel ready to wear the entrepreneur hat, this could be your time.
Brush up on business skills like bookkeeping, marketing, and tax prep to set yourself up for success.
Can You Do Your Own Marketing?
Even with a solid clientele, marketing yourself consistently is crucial to maintaining and growing your business. Clients inevitably move, change schedules, or adjust their budgets, so having a steady flow of new clients is essential. A strong social media content strategy is your best friend for keeping your work visible and attracting new faces. Showcasing your specialties, posting transformations, and engaging with followers can keep your books full.
If you want to really grow, it's important to familiarize yourself with platforms like Google Ads or Meta Ads to keep your services top of mind for potential clients. Alternatively, setting aside funds to hire a professional marketer can take this off your plate and let you focus on your craft.