Case Study: Upgrading From a Booth Rental to a Private Beauty Studio
As we get closer to 2023, now is the time to begin planning for that fresh start you’ve been thinking about. If you’re currently renting a booth, making the move to a private beauty studio has the potential to significantly boost your freedom and improve your earnings. Investing in a high-end studio salon in Boulder, Denver, Lone Tree, or Cherry Creek provides the opportunity to solidify your brand and elevate the client experience.
If you’re ready to enjoy the privacy of your own space with your own decor, music, and more (and stop sharing a shampoo bowl), we’d love to help you along the path to entrepreneurship. Ready to determine whether it’s the right time for you to make the move? Our Market Director, Kandice Meylan, is always here to talk with you, can go over our Booth Rent to Salon Suite Owner Roadmap, and help you create a plan. Here, we share a case study to demonstrate how one of our Indies, Christina (name changed for privacy), made the decision to ditch the booth rental and become her own salon suite owner:
Analyzing Christina’s Current Data
Here’s a detailed analysis of Christina’s numbers:
- Christina takes home 100% of her weekly service sales and 10% of product sales.
- This breaks down to an average of $2,250 per week in service sales.
- She sells approximately $250 in products per week, but takes home just 10% of that figure. This leaves her with $25 per week in take-home pay from selling products.
- Her gross weekly pay is $2,275.
- After subtracting her booth rental payment of $385, plus $100 in additional expenses, her net pay is $1,7905 per week.
Her Projected Earnings As An Indie
Without increasing her weekly service and product sales, Christina will take home more money just by becoming an Indie. Here’s a look at what she’ll earn at Indie Salons:
- She’ll keep 100% of her weekly service sales of $2,250.
- She’ll also take home 100% of the revenue from product sales of $250.
- As an added perk, Christina will earn a 10% rent credit from purchasing professional products at wholesale prices through our wholesale beauty supply program of $25.
- Christina rents her gorgeous new studio for $330 per week which includes utilities, common area maintenance and WIFI.
- After deducting $330 for rent and $250 for product, software and other expenses, Christina’s new net weekly pay is $1,945. She increased her earnings while benefiting from the freedom of being her own boss and having her own salon suite!
We love real-life case studies like this. Over time, Christina also implemented add on services and increased her product sales for a substantial increase in her business. Christina’s story is an excellent example of how you can boost your income and enjoy the sweet life in a luxury studio. And at Indie, you are never alone! Our team and our supportive network of beauty professionals are here to support you.
We want to minimize the guesswork of owning your own salon studio business, so we’ve created a Booth Rent to Salon Suite Owner Roadmap with all the steps involved. If you’d like to go over the Roadmap and/or review your numbers with Kandice, she’d love to help. You can contact her via call or text at 303-792-8222 to schedule a complimentary consultation, or you can start by coming to tour your dream beauty studio.