Secrets To Managing Your Booth Rental Salon

Is it time to make the break and taste success as a Booth Renter Salon Operator? Becoming a Booth Renter and/or Rent a Chair Stylist still requires entrepreneurial skills, as you are still taking risks. However, as a micropreneur, (as I like to put it), you have opted to maintain a small business that enjoys less growth in order to combine career and family, to operate from home, and to enjoy a balanced lifestyle, all the while allowing full control over the type of work you wish to do.

Remember, there are always benefits and drawbacks when becoming an entrepreneur. In order to make it succeed, there are some crucial things you need to take care of. First and foremost is the formation of the booth rental agreement. The booth rental agreement outlines the terms and conditions between the salon owner and the solo stylist. You need to ensure that your fixed cost, that is, rent should be reasonable enough to give you a decent margin of profit on your business. Considering total fixed expenses for the space the renter consumes can assist in making an easy decision when choosing a rental figure. However, based on the number of clients you have and your potential income you might want to see whether it is affordable for you. You might also want to see how business will be managed operationally. For instance, will you get the freedom to use and sell your products or will you have to use and sell the products recommended by the salon owner.

Once the booth rental agreement is secured you are on your way to becoming an independent contractor. The other advantages of being a solo stylist are:

– You are free to set your own working hours. You can work as long as you want or as little as you want or set your timings as per the client’s demand
– If you want it that way, you can come only when there is an appointment with the client. Modern day electronics, like your cell phone and internet allows you to always be contactable by your clinets
– Normally, when you are working as a solo stylist, there will be no dress code so you can wear what you like
– Unless the booth rental agreement with the salon owner states the contrary, you can use and sell whichever products you like

However there are also a number of hurdles to overcome in order to make it as a successful solo salon operator. Some of those are:
– You have to build your client base. You may also have to bear incidental expenses like advertising expenses and promotional expenses to get your business going
– Since you are now the owner of your business, you have to take time to do the ownership tasks also. For instance, you have to take out time to meet the distributors and order the products.
– You will also be required to handle accounts and book keeping for which again, you need to spend time. Often booth renters, the landlord, may hire consultants to assist in making business decisions which expose the business. For instance, insurance, lease liabilities, etc