Anybody know about the salon business? Salon owners get on avg 55%-60% of everything

[Meast21]

Started hanging with this girl and she is a salon manager. She told me the stylists get about 40% per cut, etc. and the owners get 60%. I almost died when she said this. A typical week the salon gets about 7500 in sales or 30k a month. Rent I'm guessing is 1500 per month and I would also need a salon manager which is maybe almost 3500 a month. After all other expenses I'm guessing the salon owner is making 125k a year before taxes and they do shit. Thoughts? Why couldn't I not be greedy and take 50%

 

[Hollatchaboy]

Started hanging with this girl and she is a salon manager. She told me the stylists get about 40% per cut, etc. and the owners get 60%. I almost died when she said this. A typical week the salon gets about 7500 in sales or 30k a month. Rent I'm guessing is 1500 per month and I would also need a salon manager which is maybe almost 3500 a month. After all other expenses I'm guessing the salon owner is making 125k a year before taxes and they do shit. Thoughts? Why couldn't I not be greedy and take 50%

Think about it. Wouldn't everybody be thinking the same as you? It can't be that cut and dry. (Pun intended)

 

[Max Ehrmann]

The quicker we all figure out all it takes to make money...is money. The better.

 

[Meast21]

Think about it. Wouldn't everybody be thinking the same as you? It can't be that cut and dry. (Pun intended)

Every town has a bunch of salons and they all make money.... Obviously there are a few issues or problems that can occur. This girl I'm hanging with said 3 girls got together that worked their and left and started their own salon probably bc the owner was taking 60% like everyone else. Well guess what, I'm the 50% guy. I'm not greedy.

 

[Meast21]

The quicker we all figure out all it takes to make money...is money. The better.

I have money that is collecting dust. I could open 10 salons.

 

[PadawanWarrior]

 

[Max Ehrmann]

I have money that is collecting dust. I could open 10 salons.

Ok first I will say, if you literally have money collecting dust or cant figure out how to invest it so it grows. Brother/Sister you have no common sense.

I mean I come from nothing. I grew up in the foster care system in the inner city of Detroit. Started with ZERO. At 18 years old I was taught only criminal skills. I had no idea how to be an adult or earn a living or anything to do with finances for that matter. I had no home training. I'm state raised. lol

I say all that to say that although I started the monopoly game with no money, I have worked hard, stayed true to my morals, payed my bills, invested my money wisely, never bought anything I couldn't afford. Now I own houses and hotels. Simple as that.

There are millions of ways to turn one bag on money into two bags of money. Its pretty simple actually. I am sorry you cant figure it out. I suggest starting with maybe thinking about the whole system as capitalist society. Then read a book. Learn what that means. lol

 

[bam0813]

Started hanging with this girl and she is a salon manager. She told me the stylists get about 40% per cut, etc. and the owners get 60%. I almost died when she said this. A typical week the salon gets about 7500 in sales or 30k a month. Rent I'm guessing is 1500 per month and I would also need a salon manager which is maybe almost 3500 a month. After all other expenses I'm guessing the salon owner is making 125k a year before taxes and they do shit. Thoughts? Why couldn't I not be greedy and take 50%

Lol you could and use it to open your own salon. Do stylists supply all the products , pay utilities rent etc Are they liable when someone tries to sue for something do they pay to have the lot plowed signage advertising etc. when renovations are needed or equipment needs replacing, not scissors and buzzers but the chairs , sinks floors counters mirrors etc. They do shit? They provide a place to make 40%. Why not be greedy cut hair in your basement and keep 100% ?

 

[Rurumo]

OP has just hit on the fundamental truth of a capitalist society-you are either an owner or a wage slave.

 

[Bubbas.dad1]

My wife had a dog grooming salon. Utilities and other expenses add up fast. And equipment isn’t cheap. Local salons were run under a 50:50. We threw that out and payed 2x the minimum wage, plus tips. I think it worked out better for everyone. The girls got legal wages, many shops didn’t, so the girls got nothing paid into ss, and no unemployment protection. And we weren’t risking the wrath of the IRS for not withholding taxes. And the we weren’t paying the girls taxes. Being greedy in the short term usually hurts you. After my wife retired, her girls told her that they missed working for her, we had a 401K plan for them also.

 

[bam0813]

 

[Meast21]

Ok first I will say, if you literally have money collecting dust or cant figure out how to invest it so it grows. Brother/Sister you have no common sense.

I mean I come from nothing. I grew up in the foster care system in the inner city of Detroit. Started with ZERO. At 18 years old I was taught only criminal skills. I had no idea how to be an adult or earn a living or anything to do with finances for that matter. I had no home training. I'm state raised. lol

I say all that to say that although I started the monopoly game with no money, I have worked hard, stayed true to my morals, payed my bills, invested my money wisely, never bought anything I couldn't afford. Now I own houses and hotels. Simple as that.

There are millions of ways to turn one bag on money into two bags of money. Its pretty simple actually. I am sorry you cant figure it out. I suggest starting with maybe thinking about the whole system as capitalist society. Then read a book. Learn what that means. lol

My money is only been collecting dust now for 3-4 years.. Time to get into the phony stock market and player safer stocks so my money can double in 5 or so years.

 

[a mongo frog]

Started hanging with this girl and she is a salon manager. She told me the stylists get about 40% per cut, etc. and the owners get 60%. I almost died when she said this. A typical week the salon gets about 7500 in sales or 30k a month. Rent I'm guessing is 1500 per month and I would also need a salon manager which is maybe almost 3500 a month. After all other expenses I'm guessing the salon owner is making 125k a year before taxes and they do shit. Thoughts? Why couldn't I not be greedy and take 50%

Not sure your state, but in California cosmetology ladies get super paid. Some days 800 a day. They rent a chair for 1k a month. Not sure where your figures are comming from.

 

[Meast21]

Not sure your state, but in California cosmetology ladies get super paid. Some days 800 a day. They rent a chair for 1k a month. Not sure where your figures are comming from.

Poor small city

 

[MidnightSun72]

Started hanging with this girl and she is a salon manager. She told me the stylists get about 40% per cut, etc. and the owners get 60%. I almost died when she said this. A typical week the salon gets about 7500 in sales or 30k a month. Rent I'm guessing is 1500 per month and I would also need a salon manager which is maybe almost 3500 a month. After all other expenses I'm guessing the salon owner is making 125k a year before taxes and they do shit. Thoughts? Why couldn't I not be greedy and take 50%

Rent will depend on your location, sure let's say $1500 then you gotta renovate your space into a salon and buy all the requisite equipment and tools and furniture. Then you get your business insurance, water, electricity, laundry cost, salon supplies (expensive AF). That's before you count her time keeping all the employees happy, ordering supplies, organizing maintenance and replacement on different salon tools and equipment.

running a business is hard work no matter what your business is.

also the salon employees might only keep 40% but they also get to keep the tips $$$ no tax.

 

[Max Ehrmann]

My money is only been collecting dust now for 3-4 years.. Time to get into the phony stock market and player safer stocks so my money can double in 5 or so years.

I wouldn't risk a penny on the stock market. Its politically motivated and driven. Its basically gambling. In my opinion usually not a good business decision. I mean gambling can be fun as entertainment, but a cracker like me is trying create a legacy here. No time for risky bets that are dependent on the whims of the super rich. No thanx. lol

A lot of my buddies and fellow entrepreneurs (Mostly marijuana guys.) Are going to crypto currencies and swear there is money to be made there.

Me. I think...that's all good but with crypto, if the power goes out...your broke. lol No thanx.

Gold has been and can still be a great long term investment. That shiny shit has continued to grow in price year after year. Gotta love the human race and their infinity for shiny stuff. lol So I have some gold bars that are worth WAY more now than they where when I purchased them. Easy money man. Buy it and wait. lol It aint rocket science. Problem with gold is if there is a civil uprising or zombie apocalypse you cant eat gold. lol Grocery stores close and you cant get food, you will trade a truck load of gold for a bag of potatoes.

Then there's Real Estate. Play monopoly man. That's what I do. Its fun. Same as gold basically. Buy it and wait. lol I have a couple rentals, a couple retail outlets, and a couple hotels. All making money. I pay people to maintain and run most of it. So if I want to miss work or play frisbee. I still get payed. Again It aint rocket science. lol But here again we have the you cant eat a hotel problem.

In the end, sounds crazy but I think my smartest investments have been forest land, that I then built a small cabin and LARGE pole barn on. I then stocked the pole barn with the MOST IMPORTANT supplies. Seed stock, weapons and ammo, dried preserved foods, clothing, ect. This is a just in case investment for the future of me and mine. Best one I have made yet.

Be smart man. Think and read. Keep an open mind and always be willing to try and learn new things! This is the key to true wisdom. Good luck in all your ventures!

 

[amneziaHaze]

do you pay for the hair products or you expect your employee. thats why you take 60% but you make less after. if you got a girl that can cut hair offer her the idea why give the money to the bank if you are not using it just wasted life. even if you fail a man has to have one big investment fail or else he lived in fear

 

[Meast21]

Rent will depend on your location, sure let's say $1500 then you gotta renovate your space into a salon and buy all the requisite equipment and tools and furniture. Then you get your business insurance, water, electricity, laundry cost, salon supplies (expensive AF). That's before you count her time keeping all the employees happy, ordering supplies, organizing maintenance and replacement on different salon tools and equipment.

running a business is hard work no matter what your business is.

also the salon employees might only keep 40% but they also get to keep the tips $$$ no tax.

Yup you are married to any business and have to work 60+ hours a week.. But this seems the best with my health issues. I feel like I could be there less than 20 hours a week doing misc. stuff.

 

[Meast21]

I wouldn't risk a penny on the stock market. Its politically motivated and driven. Its basically gambling. In my opinion usually not a good business decision. I mean gambling can be fun as entertainment, but a cracker like me is trying create a legacy here. No time for risky bets that are dependent on the whims of the super rich. No thanx. lol

A lot of my buddies and fellow entrepreneurs (Mostly marijuana guys.) Are going to crypto currencies and swear there is money to be made there.

Me. I think...that's all good but with crypto, if the power goes out...your broke. lol No thanx.

Gold has been and can still be a great long term investment. That shiny shit has continued to grow in price year after year. Gotta love the human race and their infinity for shiny stuff. lol So I have some gold bars that are worth WAY more now than they where when I purchased them. Easy money man. Buy it and wait. lol It aint rocket science. Problem with gold is if there is a civil uprising or zombie apocalypse you cant eat gold. lol Grocery stores close and you cant get food, you will trade a truck load of gold for a bag of potatoes.

Then there's Real Estate. Play monopoly man. That's what I do. Its fun. Same as gold basically. Buy it and wait. lol I have a couple rentals, a couple retail outlets, and a couple hotels. All making money. I pay people to maintain and run most of it. So if I want to miss work or play frisbee. I still get payed. Again It aint rocket science. lol But here again we have the you cant eat a hotel problem.

In the end, sounds crazy but I think my smartest investments have been forest land, that I then built a small cabin and LARGE pole barn on. I then stocked the pole barn with the MOST IMPORTANT supplies. Seed stock, weapons and ammo, dried preserved foods, clothing, ect. This is a just in case investment for the future of me and mine. Best one I have made yet.

Be smart man. Think and read. Keep an open mind and always be willing to try and learn new things! This is the key to true wisdom. Good luck in all your ventures!

Gold stays flat. Its at the same level it was now as it was in 2011... I can see owning 20% of gold/silver of you're portfolio though as like a hedge.
Stocks always go up long term over a span of 3-5+ years.

 

[Meast21]

do you pay for the hair products or you expect your employee. thats why you take 60% but you make less after. if you got a girl that can cut hair offer her the idea why give the money to the bank if you are not using it just wasted life. even if you fail a man has to have one big investment fail or else he lived in fear

I would pay for the hair products, buy when my stylist sells products I get a profit of that too so it probably equals out.