We had a Salon coach come in and give us these formulas: Your weekly goal should be 8x your weekly booth rent. ( 150/wk x 8 = $1200/wk) divide that by how many days a week you work and that should be your goal for the day. When you think this way, you start to go faster and add upgrades and quit giving away free nail art, free soak offs, and free repairs! Rent:a 12.5% of your income Supplies: 10% Self Employment Tax: 15% 2 wk vacation pay: 4% Marketing and Education: 5% Total Costs per week: 46.5% Take Home Pay=53.5% This helps me stay focused and watch all my dollars in and out and I don't make a deposit untill the end of the week, and whatever is left after my expenses, I write myself a paycheck. I will have vacay $ stashed, and also $ for taxes! Also, if you write down on your schedule exactly how much each person for the day paid you, (whether you claim it all or not), you will have a clear picture of how much you are really making and more aware of the cash you spend here and there and don't include it in your income. We HAVE to start viewing ourselves as businesswomen and not like this is just for fun, or it ISN'T worth it. ALTHOUGH, now that we just found out we are 8wks pregnant(!), my passion (or obsession) might also be changing...When I work a shorter week, I can definitely see it in the paycheck. Maybe a place with cheaper booth rent if you are only working part time.
On Mar 20, 6:26 pm, Lauren Dodson <[email protected]> wrote: > Thanks for all of the answers and thoughts so far. I do love what I do and > love > being my own boss. But I would also love know how to make more money. Is > there > a formula I could follow ie: rent should be a certain % of what you earn, > supplies etc. Maybe if I knew what the most I should spend a year I could > keep > that goal in check. i spent about $400 on Shellac and the lamp last year and > brought in an extra $4000. I thought that was worth it. I have only bought > some > of the new colors of the Shellac, instead of getting all of them. Trying to > edit > myself. -- You received this message because you are subscribed to the Google Groups "NailTech" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/nailtech?hl=en.
