Join The Club: https://financesforsalonprofessionals.com/

Hi everyone. I am really excited to announce that my membership site for independent contractors and salon owners is finally launching in two days.

I’ve been working on the site for the past six months. As I was building the site, I was trying to add to the membership program the types of services that I thought would be most beneficial to the members.

The services that I eventually settled on were those that my current clients and other beauty industry professionals seem to struggle with the most.

In this video, I’m going to give you an inside peek of what is currently available within the program.

So here we go. Let’s see what’s behind the curtain.

Click The Link To View The Video https://youtu.be/Fnx5ye5cS4U

Join My Wait List https://accountants4hairstylists.com/something-new-is-coming-soon

Hello again and welcome to part three of Business financial literacy for the independent stylists.

In Part one I discussed the importance of picking a legal business structure for your business, in part two, I discussed why it's important for an independent stylist to set up an accounting system.  In part three, I discuss cash flow management for the independent stylist. 

CASH is the lifeblood of every business.  Without cash, your business will eventually fold even if the business shows a profit each month. 

One advantage that the beauty industry professional has over other businesses is that we are a cash business and as such, salon owners and independent stylists, generally speaking, do not have to worry about there income statement (profit & loss statement) showing a profit based on Accounts Receivable.  This means that most if not all the sales on your income statement is cash that you have already received.    

So for independent stylists and other cash businesses, the purpose of managing your cash flow is to always know how much cash you have in reserve before you have to start worrying.  

I hope you enjoy this 16-minute video that hits on some of the high notes of cash flow management.

Click Here To Join My Wait List

Hello again and welcome to part two of Business financial literacy for the independent stylists.

In Part one I discussed the importance of picking a legal business structure for your business, which included the different options available to independent stylists and the importance of understanding the structure you choose.

Today I’ll be talking about setting up an accounting system for your business and why it’s important

When I speak to some of my independent clients about the need for them to set up and maintain a bookkeeping/accounting system some of them simply say that they don’t see the need.  And that’s because they work directly out of their bank accounts, which can prove to be quite risky if you ever start to experience cash flow problems.

The first thing is your business needs to generate financial records so that you can have access to the three most important reports a business needs to make decisions.