Seeking success as a salon owner? Set up your stylists for six-figure salaries and watch your profits—and employee satisfaction—exponentially increase.
When Cosmoprof artistic team member Jacob Khan opened his salon, Jacob K. Hair, in Dunwoody, GA, he kept one goal in mind: Breed six-figure stylists. And this blueprint for success is working wonders. In just one year, stylists increased their individual monthly income by an average of 65 percent, and staff grew from three to 11 with zero turnovers. “I think that once you open a business
you make a commitment to the people you employ to provide for and take care of them,” Khan muses. “In owning a business, you better yourself by bettering others—figuratively and literally. You’re better inside for it, and your bottom line will see the benefit as well.” The stylist also credits much of his success to being a member of the Cosmoprof artistic team. “The support and exposure that I have gained by working with Cosmoprof is invaluable,” Khan says. Here, his simple steps for creating stylist and salon success.
Never give less than a 50/50 split. I’ve worked in a few salons and repeatedly see one pattern: disappointed employees and high turnover. You can provide as much culture, education, high-tech salon equipment and contemporary working space as you want, but money talks. If people aren’t making enough money, they will lose passion for what they’re doing. If most salon owners change this mind-set, get rid of low commission rates, and start investing way more heavily in their staff, they’ll see turnover rate dramatically decrease and their salon income increase.
Show your staff a clear path to success by outlining the numbers and setting goals. Be present in your salon and set an example, especially if you’re a new salon owner. I’m on the floor taking clients right alongside my staff. I build a mutual respect between everyone by experiencing the exact same thing they do. It’s not enough to say, “I paid my dues and did hair behind the chair for a long time.” Your employees don’t care, because they weren’t there. They need you now, so be there!
"In owning a business,you better yourself by bettering others—figuratively and literally,” says Khan.
Behind the Numbers
Khan whips out this simple metric for his team to outline the path to becoming a six- figure stylist. “In a five-day workweek, keeping a $600 daily average, you’re a six-figure stylist—simple as that!” he explains. Here’s his breakdown:
$600 x 5 days = $3,000
$3,000 x 4 weeks = $12,000
$12,000 x 12 months = $144,000
$144,000 x 0.5 = $72,000 (annual salary)
Calculate in tips at an average of 20 percent: $144,000 x 0.2 = $28,800
Add the two figures: $100,800
[Image: Courtesy of Jacob Khan]