Salary, Earnings, and Profit Disclosure: Which means I may receive a small commission if you decide to make a purchase using my links at no additional cost to you. Find out more… Are you considering launching a salon? Then I’m sure you’ve wondered: “How much money do salon owners make?” and “Is a Salon Owner’s salary really that much better than a Salon Manager’s or Salon Worker’s salary?” These are valid concerns. Being a salon owner entails a great deal of responsibility. You must deal with any problems that develop in the salon while also ensuring that there is enough money in the bank at the end of the month to pay your salon personnel.
But how well are Salon Owners rewarded for the additional responsibilities?
1. How may salon owners enhance their earnings?
Salon owners earn an average of $70,000 per year. The Salon Owner’s income is determined by the type of salon, its location, and how successfully the salon business is run. Hair Salon Owners get an average yearly compensation of $75,000 (CMP), Nail Salon Owners earn $58,000 (MNB), and Spa Owners earn $78,000 (SAP). The location of the salon effects the wage by up to 50% compared to the average, and salon owners can earn more than six figures with the correct business management.
The figures presented here are extrapolated from publicly available data in the United States. To be sure, the answer to the question “how much do salon owners make?” is far more complicated than a simple number.
This article delves into the specifics of how much money you can make in the salon business and how you can impact it.
2. How does a salon owner make money?
Hair salon owners earn an average of $75,000 a year. The reported income range for a Hair Salon Owner is $14,500 to $385,00 per year, with the majority of hair salon owners earning between $70,000 and $175,000 per year. The Salon Owner’s pay is determined by location and how well the salon is handled.
San Francisco has the highest average hair salon owner pay, which is 51% greater than the national average. Furthermore, Beauty Salon Owners earn an average of $75,000 a year, which is not surprising given that they typically provide similar services (CMP).
3. Salary allocation for salon owners.
Nail salon owners earn an average of $58,000 per year. The average Nail Salon Owner compensation ranges from $40,000 to $75,000 per year. The compensation of a nail salon owner varies according to the salon’s location and how well-managed the business is (MNB).
We’ll go through how a Nail Salon Owner can improve the salon business and generate more money soon.
4. How much Spa Owners Earn?
Spa owners earn an average of $78,000 each year. The average Spa Owner compensation ranges from $35,000 to $120,000 per year. The compensation of a spa owner varies depending on location, type of spa (small day spa vs. major spa resort), and how well-managed the spa business is (SAP).
A small day spa is often structured more like a salon, whereas a large spa resort has a different ownership structure in which each site is controlled by a Spa Director who also earns the greatest income from the specific spa location.
5. The Complete Reward of Owning a Salon
Simply looking at the expected salon owner pay does not do credit to the rewards you receive as a salon owner.
Most salon owners opt to open their own business because they have an entrepreneurial spirit and a desire to build something for themselves.
They wish to actualize an idea and goal that they were unable to realize as salon staff. Although this is an intrinsic reward, it is something to consider if you are pursuing a career as a salon owner.
However, there are additional monetary benefits.
When you operate a salon, you are not simply compensated by the monthly income you pay yourself.
You’re creating a brand, a team, a location, and a customer base. You’re creating a firm that has the potential to provide even bigger returns if you decide to sell it.
This is why comparing a salon owner’s compensation to that of an employee does not provide an accurate picture.
Before we look at how you can impact the salon owner’s income, we’ll still look at what you can anticipate to make as a salon employee.
While you’re reading this, you should also read the two below.
6. How can salon owners increase their earnings?
The salary range for Salon Owners is clearly large. But how come some people may earn more than six figures while others struggle to make ends meet?
In the part that follows, we’ll go over the best practices for running a profitable salon business.