Benefits/drawbacks of being self employed???

[BABSann]

Can I ask what are the benefits or drawbacks of being self employed?

When I started at the salon I am in now, my boss asked me if I would like to be self employed.I replied that I would rather not.

I dont understand the benefits of being self employed at all.You dont get sick pay of holiday do you?I can only see the benefits of the employer but non whatsoever to the employee so would be very interested to learn about this.

My boss has now told me that in the future if/when she employers any other staff it would be on a self employed level.

 

[Spray 2 Go]

Being Self Employed means that you will have to pay for all your own products & training, as you have already identified you don't get holiday or sick pay, you are also responsible for doing your own self assesment and paying your tax and NI. You'll need to make sure your treatment insurance is also kept up to date...... I am sure there will be other things to add to this list!

On a good note, you are your own boss, you decide when you want to work, the harder you work the more benefits you will reep. It is a great feeling of self satisfaction!

Tantrick have recognised the needs of the "girl on the go" self employed therapist and have devised a new spray tanning package which includes kit, training, discounted product each month and for those who want it "the full monty" package includes accountancy services and treatment insurance all which can be paid interest free over 12 months!

Mandy x

 

[BABSann]

Being Self Employed means that you will have to pay for all your own products & training, as you have already identified you don't get holiday or sick pay, you are also responsible for doing your own self assesment and paying your tax and NI. You'll need to make sure your treatment insurance is also kept up to date...... I am sure there will be other things to add to this list!

On a good note, you are your own boss, you decide when you want to work, the harder you work the more benefits you will reep. It is a great feeling of self satisfaction!

Tantrick have recognised the needs of the "girl on the go" self employed therapist and have devised a new spray tanning package which includes kit, training, discounted product each month and for those who want it "the full monty" package includes accountancy services and treatment insurance all which can be paid interest free over 12 months!

Mandy x

Hi Mandy,thankfully I am not self employed myself nor will I be as long as I am working in the salon I am in.However I really dont think my boss wants someone to pick and choose when they work.How could this work in a beauty business when you are booked months in advance at times??

I will be thinking of spray tanning shortly for my mobile business and would be very interested in your mobile packages,prices etc.

 

[bombini]

I suppose it depends on how much money you will be earning & what sort of agreement you have with the salon owner.

I agree about the sick pay & holiday pay but if you are earning a higher wage self employed than you would employed (eg £500 per week) then i think it balances out.

I love being self employed, i make my own decisions. I do miss the security of being employed sometimes but could only go back to a job with a salary if it wasn't doing beauty !

 

[Sassy Hassy]

drawback of being self employed is if you dont work you don't get paid, but if you're not one who is often sick and can put money by for when you want time off then the rest is all benefits. I don't think I'd ever want to be employed again. The more I work the more I reap the financial benefits. I can work hours to suit me. No thankless boss. Only real bugbear is the tax return at the end of the year, but it only takes me half a day and you can do it online now and it calculates everything for you!

 

[nemotail]

Hi Mandy,thankfully I am not self employed myself nor will I be as long as I am working in the salon I am in.However I really dont think my boss wants someone to pick and choose when they work.How could this work in a beauty business when you are booked months in advance at times??

I will be thinking of spray tanning shortly for my mobile business and would be very interested in your mobile packages,prices etc.

Hi Babs - just wondered - arent you self employed in your mobile business? If you are having to do all the paperwork/NI & Tax for that you might be as well being self employed in the salon as well.
The lady who works with me is self employed on a % basis but I supply products, towels, receptionist etc. I feel its best for us both - gives incentive to her to encourage clients and she can work round her family, while I am not paying her for sitting around if she has no clients of a morning.
HTH
KxXx

 

[BABSann]

I suppose it depends on how much money you will be earning & what sort of agreement you have with the salon owner.

I agree about the sick pay & holiday pay but if you are earning a higher wage self employed than you would employed (eg £500 per week) then i think it balances out.

I love being self employed, i make my own decisions. I do miss the security of being employed sometimes but could only go back to a job with a salary if it wasn't doing beauty !

Yes,I think I can see the benefits if you were getting a reasonable pay.

It's interesting to read about the picking of hours though,I just would have thought it would be very difficult given the industry we are in.

Thanks for your replies,makes more sense now and is food for thought in the furure.

 

[Sassy Hassy]

I tend to work odder hours now, BUT if I need to take time off to go to the doctor, hairdresser etc etc etc then I just book that time out and don;t have to ask permission! You do need to be self motivated though - the money side normally does this - and not turn away business because you jsut can't be arsed that day.

 

[BABSann]

Hi Babs - just wondered - arent you self employed in your mobile business? If you are having to do all the paperwork/NI & Tax for that you might be as well being self employed in the salon as well.
The lady who works with me is self employed on a % basis but I supply products, towels, receptionist etc. I feel its best for us both - gives incentive to her to encourage clients and she can work round her family, while I am not paying her for sitting around if she has no clients of a morning.
HTH
KxXx

Hi,I'm only just starting out in my mobile business at present so havn't really had any dealings with things on that level.Only have one client:cry: But it's early days and 1 better than none,lol

I dont think it would be a good idea for me to go self employed in the salon either because I think my boss would be wanting to keep me on my pay that I am earning at present.

It would be of no benefit to me whatsoever to go self employed in the salon given what I am earning and there is no way I would be able to pick and choose my hours.

 

[Spray 2 Go]

I tend to work odder hours now, BUT if I need to take time off to go to the doctor, hairdresser etc etc etc then I just book that time out and don;t have to ask permission! You do need to be self motivated though - the money side normally does this - and not turn away business because you jsut can't be arsed that day.

Oh how true!!!! - you'll never have worked the hours if you were in regular employment but as you say Sass no permission needed to book time out when you need it. I feel it is very much like bringing up children, the more time, thought and effort you put in, the better your business will be as it grows. Can't beat it personally and would never go back.

 

[kimmi2506]

hi i am wanting to go self employed what do i have to do on the side of taxex insurance anything else i need how much do you think i would need to rent a room i have no client base but the salon does should i pay 40% of what i earn or should i pay rent i need questions i should ask them tomorrow what are over heads and do i need them i need as much information on renting a room in a salon please information appreciated thanks

 

[Martin Duffy]

hi i am wanting to go self employed what do i have to do on the side of taxex insurance anything else i need how much do you think i would need to rent a room i have no client base but the salon does should i pay 40% of what i earn or should i pay rent i need questions i should ask them tomorrow what are over heads and do i need them i need as much information on renting a room in a salon please information appreciated thanks

If you go self-employed you need to register with the tax office, contact them & they will explain it to you, but basically you have to keep certain records & file a tax return (or get an accountant to do it for you) from which your tax contributions will be calculated.

Whether you rent a room, go on commission, get your materials provided etc etc will all differ from one instance to the next. Basically you need to work out how much it will cost & how much you will need to earn to cover those costs & hopefully make some sort of profit (if you're lucky!). Remember you need to cover the cost of the room, materials for the treatments, electricity, water, phone bill, insurances (liability & possibly contents if you're providing your own materials) & so forth; these are your overheads. If you're renting check to see what's included in the cost of the rental.

The easiest thing to do is list all the expenses that you're going to have to pay out a month, work out how many treatments a month you reckon you will be doing (realistically, not how many you'd like to do!) & how much you will be able to charge for those treatments & then see if that amount covers your costs. Also consider what you're going to do if you can't cover the costs for a month or so, which is quite probable for most people.

 

[kylieb]

I love being self employed. I am mobile though, not salon based. It's by far the best thing I have done! Ok so it's not guaranteed money but i'd rather be doing my own cleaning inbetween clients than scrubbing someones salon. My last salon job never gave sick pay. I just save 2 weeks wages and put it aside incase i do get ill.
I have far much more enthusiasm working for myself than someone else! x

 

[BABSann]

LOL I saw this thread and thought I dont remember writing it then realised it's from 07 .Thanks for everyones input though.

 

[gillian w]

LOL I saw this thread and thought I dont remember writing it then realised it's from 07 .Thanks for everyones input though.

Hopefully you know now

 

[kimmi2506]

Posted via Mobile Devicethank you for your response you have gave me another view from it all makes a bit more sense now thanks x