Here’s How To Take Home 6 Figures As A Hairstylist
Learn The Difference Between Earning And Taking Home 6 Figures As A Stylist
Like most jobs, earned pay and take home pay are NOT the same—and stylists have no exception. That’s why hairstylist, educator and business guru Mariah Cloke (@mariahcloke) is helping hair pros learn the difference between the two and how they can accomplish their money-making goals.
Keep scrolling for Mariah’s must-have advice on setting the right financial goals, learning the real difference between earned and take home pay, and how stylists can achieve a six-figure salary.
Gross income vs. net income: What makes them different
External factors like rent, taxes and product overhead play a HUGE role in determining costs and take-home pay. Below, Mariah shared her money roadmap for rethinking your financial goals (here’s a hint: think DOUBLE!):
Per Year: Old Goal: $100,000 New Goal: $200,000
Per Month: Old Goal: $8,333 New Goal: $16,666
Per Week: Old Goal: $2,083 New Goal: $4,166
Every Four Days: Old Goal: $520 New Goal $1,041
Want to learn more? Enroll in one of BTC University’s business courses to become your salon’s go-to guru!
Add New Services To Boost Ticket Prices
Mariah’s advice? Invest in higher-priced services like extensions. This way, you don’t have to increase your days or hours behind the chair to hit your daily financial goal.
Pro Tip: A super common misconception is that booth renters make more money than commission stylists. BOTH have expenses that can decrease their net earnings and BOTH can hit six figures.
Not having an assistant DOES NOT mean you can’t make six figures
For stylists who are first starting out, retention is key. If you can’t hire an assistant, focus on pre-booking and maintaining your clientele. Remember that happy clients boost referral rates significantly!
For stylists who can hire an assistant, Mariah encourages them to do so. Having an assistant allows more guests to be serviced in the same amount of time, driving up earnings potential.
Make sure you’re charging your worth
Mariah encourages fellow stylists to be confident in their work and learn how to adjust pricing for experience level, area and demand. She implores that practice, education, hard work and some experience with celebrity clients can go a long way. Even if you aren’t pricing like Mariah right now, you could very well be in the same ball park.
“I used to not be able to see the results after listening to and watching successful hair stylists and coaches,” Mariah says. “Now, I’m able to help you reach your goals as a six-figure stylist.”
Click to read Mariah’s full post!
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