Layla Dudley
I've been hairdressing for 17 years, and I've had my own salon for just shy of two years.
When I first thought about doing the Money course, I think what held me back was simply fear; money is such an intimidating subject for a lot of people, including me.
But I knew it was important to get a handle on it. I’m a salon owner now, and that means I’ve got a responsibility not just for myself, but for my team. I want to do a great job for them too.
Originally, I enrolled in the course because I wanted help interpreting my profit and loss statements and to feel more confident with the numbers. I needed to know how much I could afford to spend and how to make the best use of my time.
For example, once I figured out my break-even point, I realised I could afford a laundry service. I’d been doing the laundry myself for two years, and finally being able to outsource that was such a relief. That alone made the course worth it!
More than anything, I just wanted a better understanding of the money going in and out of the salon, so I could get a clearer picture of where I stood and feel more confident about making financial decisions.
That’s really important to me because, right now, I’m working with relatively modest numbers, but in the future, I’d like to be handling more. So I felt it was smart to get the financial foundations in place while I’m still small.
I wouldn’t say there was a single big problem that led me to the course, but I definitely wanted some reassurance. I wanted to know I was on the right track.
The benchmarking exercises were really useful for that. They helped me understand where I stood in comparison to other salons, where I was doing well and where there was room to improve. It gave me a much bigger-picture view of my finances, and that’s exactly what I was hoping for.
One of the most important things I’ve taken away is to check in on the salon’s weekly sales and track how we’re doing against our break-even point.
It’s also helped me feel more at ease with the natural ups and downs of business. If we have a great week followed by a quieter one, I don’t panic, I know it’s about the overall trend and that we’re still doing fine if we’re consistently above the break-even.
The Money course has definitely been a great investment in my peace of mind. I now have a much clearer view of my financial position, and I feel more confident about the path ahead.
Without it, I wouldn’t have realised that I’m actually running at a profit, and that my profit margin has been steadily increasing.If you’re considering doing the Money course, I’d say take the plunge. It’s a brilliant opportunity to understand your numbers, feel more secure about your finances, and set your business up for long-term success.
