Thinking about renting a salon space? Find out if that could be the right move for you and your career.
Freelancing in the beauty sector has grown in popularity in recent years. More than half of the around 250,000 people in the UK that work in barbering, hairdressing and beauty are self-employed.
For these self-employed freelance workers renting a share of an existing salon space has become a great option. With the number of spaces being put up for hire across the UK renting salon space has never been easier.
It does not necessarily mean this is the right choice for all beauticians and stylists.
Let’s take a look at some of the key pros and cons to renting a salon space.
Be your own boss
Choosing to rent salon space instead of becoming an employee at a salon also allows for greater control for the freelancer in a number of ways. More control over your salon space than if you were to be an employee. More control over your dress, your working hours and the products you use. Having this control can be hugely rewarding for self-employed workers.
Save money on salon space
If being your own boss is appealing, choosing to rent a salon space may be the more affordable option at least initially. The upfront costs and risks inherent in purchasing or hiring an entire property for a salon business will be too high for many. Opting to rent salon space can allow you to build up a client base that can be transferred to a new space if that is the long-term goal to lessen some of these risks.
Sounds great right?
Before you decide to rent salon space right away here are some possible negatives that also need to be considered.
Whilst greater control can be a positive for some people, other stylists may prefer to focus on their work with clients than the extra duties and responsibilities involved with being a freelancer. Having more responsibilities is the general theme of the argument against renting a salon space but these can be broken down into –
Building your own client base
Freelancers have to do more work to attract customers, as most of your business will be by appointments with walk-ins being less common without the name recognition of a successful salon. This can mean running your own social media pages to attract customers and other marketing efforts. Whilst this can be a fun and rewarding creative challenge, these activities will take time and must be considered before going it alone as a freelancer.
There are a great deal of administrative tasks that freelancers are required to perform from a regulatory perspective when renting salon space. Accurate accounts and records must be kept for tax purposes, which may require the additional expense of hiring an accountant for assistance with this. Managing inventory or handling and paying for appropriate insurance are other activities that will consume time and cut into profit margins.
Being a freelancer also means that there are fewer protections for you if you need or want to take time off work. Statutory Sick Pay for example does not apply to freelancers and taking significant time off for a holiday will be more difficult when you have a client list to maintain.
So, should you rent salon space? These are just some of the things that must be considered before making that decision.
If the answer is yes then you can find salons spaces for hire across the UK on Occupyd. Check out our listings and find a salon space that suits you!