Financial Planning Basics for Hair Salon Owners

E24: Financial Planning Basics for Hair Salon Owners

Today, I want to talk with you about what I believe are the financial planning basics every hair salon owner should know.

Now, we all do crazy stuff with money because we’re all relatively new to this game that is money. And what looks crazy to you might make sense to me.

But guess what? No one is crazy.

In fact, we all make decisions based on our own unique experiences that seem to make sense to us in the moment. Make sense?

No matter what type of salon owner you are, understanding these financial planning basics can help you overcome the various obstacles and decisions you’ll face along your path to financial freedom.

So, I’m going to break this episode into three sections. The first will be about cash flow planning; second, tax planning; and third, paying estimated taxes. Meanwhile, within each of these three sections, I’ll give you actionable steps you can implement immediately.

Because it’s the salon owners who take action who get the wealth and reap all the financial security. And now is the time for you to take action.

Episode Highlights

[02:08] Cash flow planning basics.  

[07:26] Tax planning basics for hair salon owners.

[11:43] Paying estimated taxes.  

Looking for more tips on how to grow, scale, and ultimately sell your hair salon business? Check out our other Unchained From the Chair podcast episodes.

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