To rent a salon suite is a big step. It’s exciting, empowering, and a major move toward independence. You’re finally your own boss, calling the shots, and creating your dream space. But along with the freedom of salon suite rental comes a little something called responsibility—especially when it comes to your money. If you’re not paying attention to your accounting, you’re setting yourself up for stress down the road.
We are Salon & Spa Galleria, serving the Greater Fort Worth Metro area with twenty-three affordable salon suite rental locations. Call us at 817-917-1416 for more information.
So let’s talk about it. You don’t need to be a CPA to run your salon studio like a pro, but you do need a solid understanding of your income and expenses. Good accounting is what turns a hobby into a business, and it’s what makes the difference between just getting by and truly thriving.
-
Track Every Dollar Coming In When You Rent a Salon Suite
First things first—know your income. That means every payment from every client. Cash, card, Venmo, Zelle, whatever your clients use to pay you, it all needs to be tracked. It’s tempting to rely on memory or just check your bank account once in a while, but trust me, that’s not enough.
Use a simple spreadsheet, accounting software like QuickBooks, or even apps made just for beauty professionals like Gloss Genius or Vagaro. Not only will this help during tax season, but it’ll also show you what’s working. Which services are your biggest earners? Which months are your busiest? That’s valuable info you can use to grow.
-
Don’t Forget the Expenses
Just as important as tracking income is knowing where your money’s going. You’ll have regular expenses like your salon suite rent, products, tools, laundry services, continuing education, and marketing. And don’t forget the little things—those fancy foils, ring lights, or coffee pods for your waiting area. It all adds up.
Keep receipts. Save digital invoices. Organize everything into categories so you can see your spending habits clearly. You might be surprised at what you’re actually spending each month—and where you can save.
- Separate Business and Personal Finances
Please, for the love of all things balayage, do not mix your personal and business finances. Open a separate bank account for your business. Get a business debit or credit card. This one move alone will make your life ten times easier.
Not only will it make tracking expenses simpler, but it also adds a level of professionalism and protection to your business. Plus, come tax season, you’ll thank yourself for keeping things clean and easy to report.
- Budget Like a Boss
When you rent your own salon suite, it’s easy to get caught up in aesthetics—trendy furniture, cute wallpaper, luxe retail displays. And hey, presentation matters. But don’t blow your whole budget on ambiance. You need to plan for slow months, unexpected expenses, and taxes (yep, we’ll get to that next).
Make a monthly budget and stick to it. Prioritize your rent, products, and utilities. Then allocate money for marketing, education, and a little cushion for the unexpected. Budgeting might not be glamorous, but it’s what keeps your business sustainable.
- Set Aside Money for Taxes—Seriously
When you’re self-employed, no one’s taking taxes out of your paycheck for you. That means it’s your job to set money aside—ideally, 25–30% of your income—to cover what you’ll owe the IRS.
Consider making quarterly estimated tax payments so you’re not hit with a massive bill in April. Working with an accountant or tax pro is worth every penny when it comes to getting this right. They can help you find deductions, stay compliant, and avoid headaches.
- Regularly Review Your Financials
Set a time every week or month to go over your finances. It doesn’t have to be a major event—just an hour with your coffee and laptop to check in on how your business is doing. Look at your profit and loss, track your goals, and make any needed adjustments.
Doing this consistently gives you control. It helps you spot trends, make smart decisions, and feel confident about the direction of your business.
- Invest in Professional Help When Needed
If accounting isn’t your strong suit, that’s okay. There are tons of bookkeepers, accountants, and apps designed to help small business owners like you. Think of it as an investment in your peace of mind. You’re already an expert at making your clients feel beautiful—let a financial pro help make your numbers look good too.
And if you’re in Fort Worth and thinking about renting a salon suite, check out Salon & Spa Galleria. With multiple convenient locations, flexible lease terms, and beautifully designed luxury salon suites ready to customize, it’s the perfect place to launch or grow your business. They support their tenants with marketing tools, business resources, and a strong community vibe—so you’re never on your own. Ready to turn your talent into a thriving business? Start with the right space—and the right support.
