Issue link: https://www.ascpskindeepdigital.com/i/1482182
Use your upgrade discount to become an ASCP Professional member today! ascpskincare.com 17 business environment, there are so many tools available to make it easy for your clients to schedule services. Product Choices Having the freedom to select products you want to use for services and retail is a game changer! Not only will you have the ability to keep your revenue (after you pay your business expenses), but you will have additional income from retail sales. If you don't own your own business, you'll likely receive a commission on your product sales. But, if you own your own business, you get to keep all the profits to pay your rent, pay down debt, upgrade or buy new equipment, and even start a retirement account! The possibilities are limitless. TO OWN OR NOT TO OWN So many beauty pros are incredible employees and team members. We wouldn't trade our boss or where we work for the world. But some of us have the desire and the dream to someday go out on our own and be a business owner. As you build your clientele and gain knowledge and experience, you may begin pondering whether being a business owner is for you. You might ask yourself: • Will it cost too much money? • Would I be a good boss? • How will I get employees? • What if employees leave? • Will I be a good trainer? • How will I cover payroll costs? Before you allow reluctance to rule out the possibility of business ownership, let's discuss what ownership could mean for you. You Are Truly Your Own Boss With independence comes responsibility; however, you are living in a time where there is more support for entrepreneurs than ever before. To get started, find a trusted advisor to support you in establishing your business. Then, obtain your professional and business licenses (each state is different). Finally, you will need start-up funds to pay for licensing, insurances, rent (if applicable), and supplies. Depending on your specialty, opening a beauty business may not require a large business loan. A little discipline and savings to buy product, equipment, and décor to get you started is all you need. Then you can begin planning for your grand opening! You Keep Your Revenue Keeping the revenue from your services is one of the most exciting parts of being your own boss. However, as a boss, you have more to think about than just money earned. While it's important to set goals and track your revenue, you must also track your expenses, such as: • Rent/utilities • Service and retail product Windows ◇ Blinds, shades, or other covering? ◇ Do windows open? Have screens? ◇ Noise factors near doors and windows? HVAC ◇ Shared or separate ventilation? ◇ Shared or separate thermostat? If shared, who controls it? Does HVAC run 7 days a week? Type of flooring: Number of electrical outlets: Placement of outlets OK? Internet access? Cell reception good? Hookup for laundry machines? Expenses & Maintenance Rent: Utilities: (type and average cost) ◇ Gas: ◇ Electric: ◇ Internet: ◇ Other: Responsibility for plumbing, HVAC, other urgent systems issues: Lease Is it triple net? Annual rent increases built in or fixed? What if building is unusable due to damage? Can landlord force you to move to different space in building? Can you negotiate: ◇ Construction costs/upgrades before you move in? ◇ Lower rent for longer lease term? ◇ Dedicated parking space? Allowed to paint? Allowed to sublet? SUITE LIFE