Financial Planning within the Beauty Industry 

Use a software to keep track of your daily purchases

  • Quickbooks

  • Mint 

  • Goodbudget

  • Expensify

  • Wally

Ways to Save $

  • Conserve Water

  • Waste Disposal

  • Eco Saver Materials 

Be Ready for Slow Seasons!

Don’t forget to take into consideration the pricing of hiring workers 

  • Booth Rental

  • Commission Based

Have permits and licenses to open your salon.

Questions to ask yourself

  • What’s your busiest day of the week?

  • What are your best selling products?

  • Who are your highest-performing employees?

Determining Your Prices 

  • Estimate how many services you will have in a week 

  • Determine how much you will have to charge in order to make a profit 

Total Revenue

(-) Total Expenses

= Net Profit

Calculations to take into account when managing expenses 

Determine Your Competitive Analysis

  • What types of customers do they serve?

  • What services do they offer?

  • What products do they offer?

  • What is their pricing (premium, low, etc.)?

  • What are they good at?

  • What are their weaknesses?

What is a Financial Planner

  • Financial Planners are licensed to give investment advice and develop comprehensive financial and wealth management plans

 How Can a Financial Planner be a Resource

  • consulting with clients to analyze their goals, risk tolerance,  life stages, and investment strategies

The most important investment you can make is in yourself!🌸

Learn More about Entrepreneurial Planning click here