This week we answer a question form our member's group... "What's a fair hourly rate to pay?".
That question is a bit deeper than you'd think as it pertains to time and price.
The minimum pay rates are dictated by FairWork - but the current market rate is well above that amount in major centres due to staff shortages and the cost of living in Sydney or Melbourne in particular. For salons there we have stylists asking for Rock Star money for mediocre performance levels.
As some of you know may know I particularly enjoy teaching this subject.
I think it's critical to understand what's going on and perhaps why your salon or staff are not making hairdressing a profitable venture for you - it's a HUGE topic.
1)you will be asked to use the dreaded spreadsheet So make peace with that (lol!)
2) I'll be demonstrating on Apple's Numbers but anything will do (ie; Microsoft Excel or Google Sheets)
3) what we cover may break your current pricing - knowledge is power but be prepared for a moment or two of discomfort. 🤯
The maths we cover on this lesson relates to any salon business regardless of where you're located or what demographic you serve. We use the exact formulas to this in our Melbourne salon as well as our regional (country) salon - and we've done so for almost 17 years. The two salons have different pricing but ironically two of my top three highest earners are based in our country salon
You can download the spreadsheets I used in the presentation below;
Thanks everyone for watching :-)
This topic is 'heavy' but critically important for your salon businesses health - I hope it was valuable information for you.
Post any questions you have on this here in the comments and I'll do my best to answer you.
Carl & Belinda Keeley