If you already have a good client base, a weekly or daily rent is probably more cost effective for you. Usually a daily rent is approximately the equivalent to your fee for one cut and finish. That’s the one that I prefer as it’s easiest to manage.
A percentage split can be handy when you’re starting out with a minimum client base so on days where you have the odd client, you only have to pay a percentage of your actual earnings and not losing money on rent which has to be paid regardless of whether you have any clients.
Don’t forget to put aside about a third of your earnings to cover tax and insurance costs etc.
