Booth renting is a growing trend for stylists who aren't interested in the traditional salon working environment. Is it right for you? There are many advantages and disadvantages to consider before making the career move.
Renting a booth almost always allows you to set your own hours.
Renting a booth lets you work independently, without the burden of overhead expenses incurred by owning and operating your own business.
You'll have the ability to market yourself any way you choose.
You'll be able to use products of your choice, rather than from a line a salon carries.
Aside from the booth rental fee, you'll be able to keep your earnings to yourself. (Note: some salons that offer booth rentals require renters to pay a percentage of their profits on top of the rent. Pay close attention to your contract for details like this.)
For stylists with a lot of experience and talent, the income potential is limitless!
Booths can often be expensive and can be hard to come by.
It can be harder to bring in business during slow seasons.
You'll be responsible for your own taxes and insurance coverage.
You'll have to provide your own products, equipment and tools.
It can be difficult for booth renters to access mentors and educators.
Booth renters often miss out on the teamwork and camaraderie that comes along with working in a salon.
Take into consideration...
Do your homework. Ask fellow stylists and research salon booth rental rates in your area so you can find the best rate and amenities. Popular amenities include shared advertising costs between you and the other renters, a receptionist, access to products priced wholesale, towel usage, and a cleaning service.
Choose a location in a high traffic area near other businesses, especially shops and restaurants. A popular location will often bring customers to you rather than you having to seek them out.
Before you lock into a contract, take a good look at the space and the other stylists you'll be working with. What kind of reputation to they have? Are they the type of people you want to be associated with? How successful is their business?
Read through your lease and any other contracts very carefully before signing. As I mentioned above, there are salons out there that expect a percentage of your earnings on top of your booth rent.
The ability to take your marketing in the direction you want is a major advantage, but it can be expensive and overwhelming to handle it all on your own. Creating a profile on Loxa Beauty is an easy and inexpensive way to create an online identity and brand yourself.
Do you rent a booth in a salon? Do you love it?