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1. #Barber shop monthly expenses how to#
2. #Barber shop monthly expenses pro#
3. #Barber shop monthly expenses professional#

Keep all your receipts so you can easily justify your tax write-offs if you are ever audited. Examples of eligible equipment and supplies for hair stylists include the following:īarbers can write off work clothes as well, but only if they can’t reasonably wear them when not working (think smocks). The supplies and equipment you use to cut and style hair are tax-deductible.

#Barber shop monthly expenses how to#

Here are five tax deductions hair stylists should know about, and how to make sure you’re taking them by the book: 1) Supplies and Equipment Necessary expenses can include things like continued education that can be helpful to your long term business growth. Ordinary expenses are the things like hair dryers, business insurance, or salon space that your business can’t do without. You might be surprised how many things can be counted as a “necessary” or “ordinary” business expenses as a stylist – and how big of a dent they put in your total income. It may seem silly to tally up every comb or alligator clip you buy, but even the smallest expenses can add up over the year. While being an independent contractor often means business expenses will fall on you rather than an employer, it also means you can deduct those expenses from your taxable income. Say you could do £200 in sales each day, then a 6-day week would earn you £1200 in sales, and £1050 in profits once you subtract your chair rental cost.Tax season is rapidly approaching, and it’s time to start thinking about the tax deductions you can take as a barber or hair stylist. This structure is beneficial in a busy shop. Chair Rental - Here the barber pays the shop owner a set amount, say £150, to have a chair at the shop for 1-week’s time.

Say you did 20 haircuts at £15 each, then your sales would be £300, of which you would keep £180.ģ. This structure is very good if you work in a busy shop. This means that for every £10 that you make, you keep £6 and the shop keeps £4. Split or Commission - A shop could share your revenues with you, at say 60/40. This means that you earn a set income regardless of how busy or slow the shop is.Ģ. Hourly salary - A shop could pay an hourly salary, which at £10 per hour would be £80 for an 8-hour day. Shops generally pay in 1 of 3 structures:ġ. Alternatively you could set a target to sell 5 products per day x £2 each x 300 workdays = £3000 commission).

This means you need to convince 250 clients per year to buy product when they have their haircut. (If each customer buys 4 products per year and you earn £2 commission on each, then you earn £8 per customer per year. By simply advising each of your clients on how to recreate their look at home with product, you can bank an extra £2000 to £3000 per year. Some shops will pay a £2 in commission for each pomade or wax sold.

Yes, in fact it is quite important to earn some extra money by selling hair product.

#Barber shop monthly expenses pro#

With time and experience, a pro barber can earn as much as £1000 per week or £50k per year. If you work a 6-day week and 50 weeks per year, this equates to earnings of £18,000 to £24,000.

#Barber shop monthly expenses professional#

Take a listen to our exclusive interview below with professional barbers Kenny Scott and Richard Tucker who give a great insight into how much barbers make and the other elements that contribute to a good barber salary:Īnother way to get an idea of the average barber salary is to check out our jobs pageon our website, where there are a range of barber jobs advertised for all levels and pay outlined.Īs a junior barber, after completing your training, you can expect to earn about £40-£60 per day in salary, and £20 in tips. In this post we provide some answers to your questions. Here at London School of Barbering, we quite often get asked, “What is the salary of a barber” or “How should I get paid as a barber”.