By entering the realm of the self-employed Rent A Chair or Booth Renter you automatically become an entrepreneur. That said, because you've decided to operate as a solo artist, you're really a 'solo-preneur ' someone who creates a sustainable business the growth of which is directly related to the personal growth of its founder: you!
In other words, 'Self-improvement = personal growth = business growth'. It's far removed from the traditional mindset of the entrepreneur, whereby 'Business growth + self-improvement = personal growth'.
- That the salon owner does not need to pay worker compensation - The salon owner does not need to pay federal and state employment taxes - They do not need to pay for group insurance or other such overheads - They do not need to train or manage employees - They do not need to spend money for acquiring new customers
If you want to start your own booth rental salon, there are certain challenges that you have to be prepared to overcome which are different from the ones faced by a salon owner who follows the "employee model". There are three important things you might want to consider:
1. Decide your salon booth rental charges: Many salon owners who are operate on booth rental basis make a lot of effort just to get their booths filled. It is important to decide what you are going to charge the solo stylists and be confident about what you are offering them. There are fixed expenses to your salon like electricity, rent, insurance, etc. You could divide the fixed expenses equally among the salon booth rental spaces available. Ultimately your charges should ensure that your business is profitable.
2. Put your retail strategy in place Booth rental salons have varying retail strategies. The independent contractors may use and sell the products of their choice or you as the salon owner could manage all the retail business in your salon. In any case, the client needs to have an "integrated" experience as she walks in and waits for her appointment or requires recommendations on her way out of the salon. The clients would not want to know or even care about your salon setup. Naturally, if don't focus on a vibrant retail display and if you're haphazard with your recommendations, then be prepaid to lose a big chunk of change.
3. Training the Solo stylists Even though they are not your employees, anything that they do wrong that makes the client unhappy will be ultimately your responsibility. Strive to build a common vision and team spirit in the team right from the start and ideally they should be allowed to take the space only when you have seen their potential to maintain excellent client service standards.
Being the owner of a salon which runs on the booth rental business model can be a very satisfying experience. If you manage your booth rental salon right you could earn decent income through salon rentals and get freedom and flexibility in your life. Be sure to always make sure the image of your rent a chair salon matches that of your desired and/or target client audience.
Author Resource:
Francis Featherby
Starting a Rent a Chair Salon Getting started with the right Booth Rental Agreement
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