Business economics for stylists suggest that your business income remain in a 60/40 ratio. 60% profit, 40% business expense. If your billing equals $50 and hour, if you are managing your expenses, your profit will be $30 (40% of $50 is $30) an hour. It’s important to take that into consideration. Keep your receipts and at the end if the month, tally up your income vs your business costs (supplies, salon rent, phone, cc processing fees, refreshments) and see what your profit/cost is. Are you keeping within the 60-40 profit/cost ratio. Divide that by how many hours you worked to determine how much you actually made per hour.

@JamieDana

5 жыл бұрын

Thanks for sharing!

Great information. Thanks again Jamie. I love the "hourly" rate idea, and the "range" idea. I have found myself in the past quoting someone an exact price, only to kick myself in the butt later when I realize it took me an hour longer then I had guessed.

@JamieDana

5 жыл бұрын

I'm so happy to hear you loved this video. Thanks for watching!

I’ve been having so much trouble with this! You broke everything down so well thank you so much for the advise!

@salondejaris7862

4 жыл бұрын

Awesome video ‼️💕

You did an amazing job with this Jamie! The breakdown made it super simple to tackle the giant-sized task of pricing. You made it super simple and attainable! Almost shed a tear when you said we were great stylists for even watching these😍 you’re the bomb👌🏼 Thank you!

@JamieDana

5 жыл бұрын

I'm thrilled to hear you loved it. Thanks for watching!

Extremely helpful! Your energy is awesome! Thank you for putting all of your education out there!❤️

Don't forget the time you will be taking off during the year as well. You can then subtract the number of weeks off from 52!

@JamieDana

5 жыл бұрын

Good point!

I love you and your confidence, and enthusiasm! I’ve been a hairstylist for 38 years and still love it ! You are such a great teacher. Thank you 😊

@JamieDana

5 жыл бұрын

Thank you so much Julia! Thanks for watching!

@melissaculpepper7663

4 жыл бұрын

Julia pfeiffer Agreed!

@sashaaitken4837

3 жыл бұрын

So cool!

Thanks so much Jamie! You made clear to understanding how to charge our clients! This will educate my coworker not to judge who is over charge, who is not depending on what kind the Tecnical work we created! Love love your work !

This has been one of the best/easy to understand pricing videos I’ve seen yet! Thank you!

@JamieDana

5 жыл бұрын

I'm so happy to hear that! Thank you so much for watching!

Love the way you went over the pricing detail , thank you.

Thanks Jamie, you’re amazing!! ☺️

Love how positive you are in all your videos 🌻

@JamieDana

5 жыл бұрын

Aw thanks so much Daniela!

OMG I am the first comment Dana I love you and thank you for all the information it is so useful!!

@JamieDana

5 жыл бұрын

Hey wendi rivera I'm so happy to hear you've learned so much from my videos! Thank you so much for watching.

You’re so awesome! Love and appreciate your videos! Just tried the high contrast money piece technique and it turned out so amazing!

@JamieDana

4 жыл бұрын

Thank you so much! I'm thrilled to hear you loved it.

This is SO HELPFUL! Thank you x a million for this video!💕💕

@JamieDana

5 жыл бұрын

I'm so glad you found this helpful!

Wow this video actually went beyond my expectations of potential knowledge and understanding thanks so much 🌻💗🤓

So simple and helpful! Thank you ☺️

These videos are extremely informative and helpful as I am going to graduate soon from cosmetology school, please keep posting and keep helping! You are absolutely amazing for being so helpful!

@JamieDana

5 жыл бұрын

Hey Silver Seraph I'm so happy to hear you've learned so much from my videos! Thank you so much for watching.

So important that we know our value as a professional! Thanks, Jamie!

@JamieDana

4 жыл бұрын

I'm so happy to hear you loved this. Thanks for watching!

Best video I’ve seen, that’s actually so helpful ! thank you so much ❤️

@JamieDana

5 жыл бұрын

Hey Kristyn Alexander I'm so happy to hear you've learned so much from my videos! Thank you so much for watching.

Thank you so much for sharing your wealth of knowledge with us! You’re amazing! Love your work! Appreciate all you do for our hair community!

@JamieDana

5 жыл бұрын

Thank you so much Jayne! I'm so happy to hear you love my videos. Thanks for watching!

I love this! Such a great way to break down the pricing!

@JamieDana

5 жыл бұрын

I'm so glad you loved this. Thanks for sharing!

Just want to send you a shout out because I love your videos. They are so helpful! Love your techniques and advice and your enthusiasm for the hair industry 💕

@JamieDana

4 жыл бұрын

I'm so happy to hear that you love my videos and that they are helpful. Thanks so much for watching!

Thank you soo much! I needed this 💕

Thank you so much. You have been helping as a stylist to feel confident more nowadays with my skills.

@JamieDana

5 жыл бұрын

Hey Cam Nguyen I'm so happy to hear you've learned so much from my videos! Thank you so much for watching.

Thank you Jamie for posting this! 💜

@JamieDana

5 жыл бұрын

You're welcome! Thanks for watching!

Thank you so much for all your videos they are so helpful keep making them.

Extremely helpful. Thank You!!!

I loved this, very very helpful! Thank you so much. I would like to see a video on the best kind of customer service for a client in the salon 😍

@JamieDana

5 жыл бұрын

I'm so glad you found this helpful! I will definitely keep that in mind for a future video!

Thank you so much!! Great tips. It's difficult to figure and refigure according to certain clients. So many variables.

@JamieDana

5 жыл бұрын

Thanks for watching!

This is awesome! I just made a video on general business pricing but I love the examples you have for hairdressing!

@JamieDana

5 жыл бұрын

Thank you so much!

I wish I could like this video 1,000,000 times!!!!🙌🏾❤️❤️❤️ Soooooooo helpful!!!!!

Sometimes the simplest things are overlooked! Great video!

@JamieDana

5 жыл бұрын

Thanks for watching!

Thanks, it was very precised and helpful.

Thank you for this amazing video!

great tips and pointers in the right direction, Thanks

Omg thank you! 🙌 I needed this!

@JamieDana

5 жыл бұрын

I'm so glad you loved it. Thanks for watching!

II LOVE YOU AND APPRECIATE YOU🥺 Thank you so much 💜💜💜

Nicely done Jamie :)

i love all your videos thank you so much for sharing them

You seriously are theAngel go the hair goddess that what was send to all of us hairstylist!!!

Thank you so much for this video. Im am just starting to build my clientele and I find myself not kbowing what to charge for stuff and this really helps thank you

@JamieDana

5 жыл бұрын

Hey Nichole Ogden I'm so happy to hear you've learned so much from this video. Thank you so much for watching.

Thank you so very much. I needed this more than you know..

@JamieDana

5 жыл бұрын

That makes me so happy to hear. Thanks for watching!

Thank you so much for all of your videos♥️you don’t understand how much you help the new generation

@JamieDana

4 жыл бұрын

Hey lifewithmysupermann I'm so happy to hear you've learned so much from my videos! Thank you so much for watching.

@MC3274

4 жыл бұрын

Jamie Dana ♥️♥️♥️♥️♥️♥️♥️

Amazing!! Thank you so much for sharing !!

@JamieDana

5 жыл бұрын

You're so welcome. Thanks for watching!

Thank you thank you thank You fur always being a source of education

@JamieDana

5 жыл бұрын

You're welcome! Thanks for watching!

Yes you should it was so very helpful

Thank you so much for doing this video!!!!

@JamieDana

5 жыл бұрын

I'm so happy to hear you loved it! Thanks for watching!

Awesome video I’m so grateful for al I’ve learned from you!! LOVE IT! 🙏🏽🙌🏽💇🏽‍♀️

@JamieDana

4 жыл бұрын

I'm so happy to hear you learned so much from this video. Thanks for watching!

@bjlando1945

4 жыл бұрын

Jamie Dana I’ve been watching for a few months now. They are wonderful!

thank you for this video!! very informative

@JamieDana

4 жыл бұрын

Thank you so much! I'm thrilled to hear you loved it.

Wonderful information, thank you! I would love to see a video in the future on selling products or service upgrades to clients. What is your advice? I really struggle with this in school. Sometimes I feel awkward talking about products. It feels like I'm forcing products on them in some way. I live in a college town and get a lot of students and people on a budget, so this plays into that. Thanks so much. ❤

@JamieDana

5 жыл бұрын

Thanks so much for your suggestion! I'll definitely keep that in mind for a video!

I love you and all of your excellent informations 💜✂️

so helpful! thank you. is the hourly rate includes the product cost that was used on the clients hair on a balayage or color correction service? or hourly service is separate fee from the total product cost plus tax.

I would love a video on how to build up clientele! New stylist here and I’m struggling to get business in the door!

@JamieDana

5 жыл бұрын

I'll keep that in mind for a future video! Thanks for watching!

I’d love to see a video about how expenses play in to this, how much your actual take home is even when you’re charging this much but having to pay for all of your products etc. Also curious how this works for commission stylists because even if I am technically charging the right amount I’m only getting a percentage of that

@JamieDana

4 жыл бұрын

I'll keep that in mind for a future video! Thanks for watching.

good idea !!!

Really liked your video

This is great!!! You and I are so similar!!!

@JamieDana

5 жыл бұрын

Love it! Thanks for watching!

I’m still in school, but wow. I wish I had a mentor like you. This was extremely helpful.

Yes please more like this! How to get a clientele?

@itseasybeezy

5 жыл бұрын

Nene yes! I’m struggling so bad. We don’t have walk ins in my plaza and I’m rental

@JamieDana

5 жыл бұрын

I'll keep that in mind for a future video!

This makes commission seem like my goals will never be possible unless I switch to booth rent

Great info!

@JamieDana

5 жыл бұрын

I'm thrilled to hear you loved it. Thanks for watching!

amazing video!

@JamieDana

5 жыл бұрын

Thanks for watching!

Excellent advice :-)

@JamieDana

5 жыл бұрын

Glad you thought so! Thanks for watching!

THANK YOU!

@JamieDana

5 жыл бұрын

You're welcome! Thanks for watching!

Thank you so much again

@JamieDana

5 жыл бұрын

You're welcome! Thanks for watching!

Question what if you move slow in foiling and how do you know how much to charge vs normally how people could do it in half the time but your into the details so how to charge ?

Yes more videos very helpful

@JamieDana

5 жыл бұрын

I'm so happy to hear that! Thanks for watching!

What’s the formula for that pink you have in your hair ? It’s so beautiful 😊

Great video! -N. Providence

Thank you!

@JamieDana

5 жыл бұрын

You're so welcome. Thanks for watching!

Omg imagine if you did videos in pasties!!! ❤️❤️ that would be so trendy!

Bravo!! Thnk u Thank u

@JamieDana

5 жыл бұрын

Thank you!

Thanks so much this was really helpful! I’m struggling figuring this out though. I just picked what I’d like to make per year, which is more than I’m making now, and after following the steps I would have to charge less than what I charge now. So with the higher prices that I’m charging now, I am making like 20,000/year less than the goal I picked. How does that work? I may have to message u🤦🏻‍♀️

@JamieDana

5 жыл бұрын

Sounds like some math got mixed up! I would recommend trying it again and seeing what you come up with!

Omg yes more more videos like this, thank you 😊✨

@JamieDana

5 жыл бұрын

I'll keep that in mind for future videos! Thanks for watching!

Could you do a video on how to take pictures? Camera vs iPhone how to find the best picture spot. Etc

@JamieDana

5 жыл бұрын

I'll definitely keep that in mind for a future video! Thanks so much for watching!

Very good I like it 👍

@JamieDana

4 жыл бұрын

I'm thrilled to hear you loved this! Thanks for watching!

You're amazing

@JamieDana

5 жыл бұрын

Thank you so much!

Thank you so much! I've been out of the business for many years raising my family. My youngest just started college and now I'm recreating myself. I would like to reenter my beauty career, and I'm researching ways to do so. I maintained my license and over the years took care of my family's hair care needs. Do you have any insight that you could share with me that would get me started in the right direction? Thank you for all your videos, they are all really awesome!!!

@JamieDana

4 жыл бұрын

I'll keep this in mind for a future video! Thanks for watching.

@krissievailolo8028

4 жыл бұрын

Carolyn, I'm in the same boat! It's so different now than it was before I had my kids...

I haven't heard it all yet, but just for me, the music in the back ground, I couldn't concentrate on what you were saying completely.. It was a distraction especially as it was a figure based video. But full of alot of Information I've heard so far.

Girl... I love you!

@JamieDana

4 жыл бұрын

Thank you so much!

@444camcam

4 жыл бұрын

Jamie Dana I just started to booth rent right after school and your channel has been a life savor

money money money.......yes!

@JamieDana

5 жыл бұрын

Thanks for watching!

How do you know what to charge to cover the cost for color. Is there a formula for color charges?

You’re an angel

@JamieDana

5 жыл бұрын

Thank you so much Jordan!

How do we do taxes as stylists??

@JamieDana

5 жыл бұрын

I'll keep that in mind for a future video! Thanks for watching!

@divadeethestylist

5 жыл бұрын

Jamie Dana please do Jamie!😊

@MsArielle01

4 жыл бұрын

🙏🏾

@sarasclafani2275

4 жыл бұрын

I really recommend hiring an accountant who specializes in small business, self employment, or just has experience with hairstylists in general. I used to so my own taxes and didn’t even realize the mistakes I was making! It’s so worth the money to have a professional who really knows what they’re doing and will keep you out of trouble!

@Hiiiiiiiiieeee

4 жыл бұрын

If you’re talking booth rent where you handle all of your own cash I was always told to save about 25% of everything i make towards taxes. Many times I don’t actually owe that much after write offs and what not but its always been a good estimate for me and I’ve been self employed for about 8 years now.

What about when you are first starting out... this is my issue I finish school in a week and I don’t know what to charge for anything lol I’m also certified in lashes and would love for this to be my main source of income. But I also love hair as well. I get so many different answers were I. The beginning charge your worth your experience to no charge what everyone else is charging for that service cas it’s hard to bump prices vs lowering them

@JamieDana

4 жыл бұрын

I love this question! I'll keep this in mind for a future video. Thanks for watching!

What are the many cashless options that stylist can accept payments from their customers? Thanks

Best video

@JamieDana

5 жыл бұрын

Thank you so much! That makes me so happy to hear!

What do you think about doing family members that come to you based on discounts because of being family?

@jennkruize9351

3 жыл бұрын

This is a really hard thing, but you tend to lose money on family due to the discounts. And also with my family they tend to have larger expectations, and I tend to end up always doing so much extra work, and a lot more headache.. They aren't doing you any favors by coming to you and expecting a discount.

what about cost of product? extra training or certifications required to do that service? certainly you should be charging for this on top of this rate... on the flip side , what about worth? i think its great that hairdressers empower each other to "charge their worth" and all that....but so often i see this from stylists who don't care to spend the time or the money to become this "worth" ... just a thought.

how would this apply to today's prices(with inflation). Should i also wait until I've built my books for pricing this way?

I would be very curios to know your take on double booking. I recently stopped this practice but feel my prices should increase to reflect the fact that the person in my chair is receiving all my attention and I rarely if ever run behind now. Any thoughts would be appreciated.

@homeschool.pray.repeat

5 жыл бұрын

Hillery Parker I’ve actually been contemplating this as well. Good question.

@JamieDana

5 жыл бұрын

I'll keep this topic in mind for a future video!

@katewilkinson7340

5 жыл бұрын

I think you could double book but try hiring an assistant, this has been a game changer for myself 😊

@hillbaby2003

5 жыл бұрын

Kate Wilkinson yes that would be ideal but I #1 don’t have the clientele and #2 don’t want to double book again, I have clients who didn’t understand it and didn’t like it and also I was prone to running behind especially if someone was late it would snowball into my whole day.

@katewilkinson7340

5 жыл бұрын

Hillery Parker I totally get that less stress is worth not doubling. You should definitely raise your prices 😊

Reminds me of a dodgy taxi drivers taking people for a ride: 60mins instead of 20mins.

Is processing time part of the hourly rates?

@JamieDana

5 жыл бұрын

Yes it is!

How do you handle booking a new client whose hair you have never seen and trying to figure out how much time to dedicate? Just because it generally takes you X hours to complete doesn't mean that you won't end up with a client who has more hair and it takes you longer.

@JamieDana

5 жыл бұрын

The more color you do the more that you start understanding your timing. If you're worried, book extra time! Thanks for watching!

Jamie-what do you recommend for tipping? I always tip my stylist 20% and most people think I am crazy because I spend about $120 every 6 weeks for my service....

@CosmoQueen91

5 жыл бұрын

Judy Besse I’m curious what you think about tipping too!!

@chrispines1510

5 жыл бұрын

As a stylist, for me it helps tremendously when a client spoils me. Your stylist is lucky.

@judybesse4058

5 жыл бұрын

@@CosmoQueen91 I think they should be tipped 20% ...

@bridgettawinchester3063

5 жыл бұрын

20% and if 20% is more than 30$ maybe 30 dollars flat

@RPALMS28

4 жыл бұрын

Judy Besse I tip 20% on my services, hair/sugaring/massage. For myself, I’m not expecting a tip and when they do it’s a nice bonus.

Hi. The letter is no longer available????😭😭😭😭🤔

Como puede traducir al español?

I really struggle with this. I feel guilty for charging anyone for any type of service. Stupid but its true. Im Puerto Rican and ppl expect me to charge at PR prices living in ATL..I travel an hour or more when I go to my clients and charge only $25 a cut and they complain! Sucks makes me feel deflated honestly NOBODY RESPECTS THIS INDUSTRY

👍🏼✌🏼💪🏼