How Much Money Does a Salon Owner Make?
As with any occupation, a variety of factors influence the amount of money a salon owner makes, including the geographic location of the salon and the number of new or returning clients.
For a salon owner to earn a competitive wage, he must have a healthy number of clients, a sufficient number of staff and strong management skills.
Less than half of all cosmetologists and personal appearance workers are self-employed. Many of these workers own a salon and are responsible for utilities and maintenance of the building. According to the Bureau of Labor Statistics, however, "a growing number of self-employed cosmetologists and personal appearance workers lease booth space or a chair from the salon's owner."
The mean hourly wage for a salon owner is £8.20; the median hourly wage is £7.10. Salon owners may earn an hourly wage up to £12.90. The mean annual wage for a salon owner is £17,231. Salon owners can earn an annual wage up to £27,001. Only 10 per cent of salon owners take home an annual wage as low as £10,627.
- The mean hourly wage for a salon owner is £8.20; the median hourly wage is £7.10.
The difference in pay between salon owners working in metropolitan areas versus nonmetropolitan areas is significant. According to the Bureau of Labor Statistics, salon owners in metropolitan areas earn a mean annual wage up to £26,715. Salon owners in nonmetropolitan areas earn a mean annual wage up to £23,822; however, this figure can dip as low as £21,645.
A variety of factors influence how much a salon owner earns per year. For instance, the prices being charged at the salon, the amount of traffic in the salon, the number of self-employed cosmetologists working at the salon are all factors that affect a salon owner's take-home pay. The cost of overhead, including rent, electrical, water, insurance, salon products and supplies, hair care tools and other expenses are deducted from the salon owner's profits.
Charlie Gaston has written numerous instructional articles on topics ranging from business to communications and estate planning. Gaston holds a bachelor's degree in international business and a master's degree in communications. She is fluent in Spanish and has extensive travel experience.