Everything You Need to Know about Booth Rental as an Artisan Compared to the iDitch Model.
According to Professional Consultants and Resources, a strategic consulting company and salon industry data source in the U.S., the booth rental and chain salon business model in the United States of America and Canada continues to consistently beat out independent salons in terms of market share, with booth rental salon stylists now constituting a major “large chunk of the market.”
The time we at iDitch Technologies INC. believe is ripe for a change in the beauty and men’s grooming industry from the usual way of doing business, to a more fluid, seamless, cost saving system that puts more money in the pockets of the Artisan in this technology age, than for the beauty shop owner, who indirectly still has some control over the Artisan in some way or the other.
Since the odds are that your cosmetology career, at some point, will include working in the booth rental business model, it is important to understand the booth rental concept as compared with the iDitch compensation model and what it means to you and your business as an independent contractor.
Booth rental means you own your own business, right… somewhat. You are your own boss, maybe….you are, or really maybe not, which means there is no one looking over your shoulder, not constantly, to an extent telling you how to run your business or treat your clients, (this is debatable). Although this may sound appealing, bear in mind that this type of business model is only successful for you if your salon owner is considerate enough not to charge you an arm and a leg as weekly booth fees.
In New York City, Los Angeles, Miami, Chicago, Toronto, Atlanta, Houston, Dallas, Sacramento, San Francisco, London, Tokyo, and most major cities here in the United States,Canada, and even all over the world, Salon owners charge more than 50 percent of an Artisans weekly take home income as salon booth or chair fees, in some cases even up to 60 percent of their weekly earnings is allotted to pay for booth fees. An Artisan cannot be successful
with this archaic system in place that favors just the salon or beauty shop owner.
Welcome to iDitch.
This is the right way for Artisans to maximize their earnings potential with minimal to non existent overhead fees, with 90 percent of an Artisans earnings deposited in the Artisans coffers after a gig is concluded for the first 3 months. (The % may increase or decrease after 3 months, depending on the Artisans tier ratings placement).
Inclusive incentive of using the iDitch portal are major referral earning opportunities, where user Members makes money by referring people to download, register and use the iDitch App, with potentials to accrue income that is second to none.
Artisans are introduced to technologically inventive process and the most effective way to drive their business on our platform.
Your business and success is paramount to us at iDitch, because your success is inevitably our success too.
Here’s what you will want to know comparing the same old booth way to the iDitch Artisan compensation model, you need not pay any out of pocket money, to pay for a booth. You are TRULY your own boss. In everything you do regarding your cosmetology, grooming, manicure or pedicure careers, you run the show. You set your hours, you keep 90 percent of your earnings, made by you while getting Gigs on our platform.
LETS MOVE ON FOR MORE COMPARISONS…
Understanding the Booth Rental Business Model for Cosmetologists Compared to the iDitch System.
To understand the booth rental business model, it is important to understand that all cosmetologists work under one of two broad classifications:
• Payroll employee
• Non-payroll independent contractor
In other words, the salon you work for will either hire you as an employee (W-2 employee), which means you will work under the direct supervision of a salon owner/manager, or you will work as a self-employed hairstylist, renting a work station (often called a booth or a chair) in a salon.
The booth rental business model allows you to remain an independent stylist somewhat, with the owner or manager of the salon acting as your landlord. The booth rental business model is not suited for everyone; however, for many cosmetologists, this type of format could result in a great deal of professional and financial success, provided it is properly executed and operated.
In contrast, the iDitch business model supports specialty and financial growth, while giving you that much needed personal “YOU” time, for you to delve into any other things that you have always wanted to accomplish in your life.
Remember YOU ONLY LIVE ONES….”YOLO”.
How Salon Booth Rental Works
Salon chair rental is a fairly simple premise: a licensed cosmetologist (or barber, nail technician, or esthetician) rents a space in a salon. In exchange, the salon owner provides a work space and amenities for the cosmetologist to use. In essence, the salon booth rental model results in businesses within a business.
If you choose this type of model to grow your cosmetology business, you will be responsible for:
• Promoting your services
• Building your clientele
• Providing your own products
• Handling your own accounting and tax obligations
In other words, to make this type of business arrangement a success, you must be both a good stylist and a good
businessperson. You must be willing to handle administrative responsibilities in addition to focusing on your craft.
How the iDitch Artisan Business User Member System Works.
This is how the iDitch system beats the Salon chair rental system. Firstly, iDitch is a technology company, we built an on-demand patented confirmation user interface community platform that works seamlessly with and for “YOU”, the Artisan in mind. The functionalities of our App based system is such that it enables and
A) Assist you in business services promotions
B) Clientele building resources
C) Assist in accounting on all Gigs done on our platform
D) All Tax obligations for all Gigs done on the iDitch platform.
You take care of the professional specialty services you render to your esteemed clients, and we assist you with the administrative parts of your business, with our breakthrough technologies in our iDitch App.
From the moment you register on the iDitch platform, you would be ushered into a community that prides itself with excellence in the beauty and men’s grooming market worldwide.
The iDitch App is not only built to be country specific, but it is also regionally specific. We cater to your specialty services to the core of your wants and needs. We are your bespoke Beautification and men’s grooming specialty services provider that is at your service, effortlessly at the tip of your fingers.
The Artisan chats and works hand in hand in real time with the client, on the iDitch platform to first understand what exactly it is the Clients Beautification or men’s grooming needs are, secondly, the two parties chat in very precise details to know the needs and wants of the client.
Once all exhaustive pointers have been discussed regarding the Gig, the Artisan and Client now have to reach a consensus regarding the pricing for the gig.
The two parties have to concur to the pricing agreement (price of the Gig).
Once this is done, the gig now becomes activated.
The Artisan now proceeds to arrive at a destination chosen by the Client and at a time appointed by the Client.
EMBRACE CHANGE, RE-INVENT YOUR LIFESTYLES.
Benefits and Drawbacks of Salon Booth Rental
From a stylist’s perspective, chair rental can have both its advantages and drawbacks. For most stylists, choosing this type of model for their cosmetology career means plenty of independence. As independent contractors, they are able to:
• Set their own schedule
• Manage their own business
• After the booth rental fee, keep all of their earnings
• Use their favorite product line
However, there are a number of negative aspects of salon booth
rental, as well. Independent stylists must be prepared to:
• Maintain their own books, including filing and paying
quarterly income taxes
• Pay for advertising and market themselves to attract new
• Earn less money while they build their client base
• Deal with increasing booth rental fees
• Purchase their own equipment and supplies
• Pay for their own health insurance and receive no benefits (no vacation time, retirement plan, etc.)
AGAIN, In contrast, with the iDitch Artisans work model, Our Artisans can also
A) Set their own schedule
B) Manage their own business with iDitch tech. Assistance
C) Keep 90% of their earnings unlike booth fees which runs into 60% of weekly earnings in some cities in the world.
D) Use whatever products the Client specifies that the Artisans should use.
E) iDitch maintains your schedules , and books for you, we send you your tax documents for you to file your taxes.
F) You may use our platform to advertise and market your services, at no cost to you.
G) You do not need to pay for advertising or marketing on the iDitch platform. Actually, on our Events link, the Artisan can make money by organizing workshops, where they get substantial financial rewards.
H) After 3 months of being registered on the iDitch platform, the Artisan gets evaluated by Clients and the iDitch evaluation team, upon evaluation, an Artisan may start making less money, if their rating is lower or the Artisan may begging to make more money with a top tier rating.
This here is very unique with the iDitch platform.
I) With iDitch our fees never increase except for instances where the Artisans review and ratings are dismal.
J) Since the Artisan is an independent contractor, he/she must purchase their very own health insurance, which is a
norm for all independent contractors.
K) So we believe with all these stated facts, iDitch is a preferred choice in comparisons.
Keep in mind that not all states permit the booth rental business model, including Pennsylvania, Michigan, Colorado, New York, Virginia, and New Jersey, among others.
Choosing a Salon
Choosing a salon is an important decision for a booth renter. First (and arguably most importantly), you must consider the location of the salon. You may choose a salon based on where you live, but is it really the best location for business? The salon you choose must be easily accessible for your clients and, ideally, highly visible. It must also be clean, updated, and filled with other renters with the same high professional standards and performance. The
last thing you want to do is set up shop in a salon that is known for its poor-quality stylists.
Negotiating a Contract or Just Downloading, Registering and Using the iDitch App
A salon booth rental arrangement must include a contract between the cosmetologist and the salon owner. With iDitch, an Artisan downloads the app, fills in the necessary information up, we put the application through a rigorous vetting process, once the Artisan is approved, he/she becomes an iDitch User Member.
A basic contract should include:
• The lease rate
• The length of the contract
• Language regarding cancellation of the contract
• What you are entitled to in exchange for your chair rental Some of the amenities you can expect to receive in this type of arrangement (and should therefore be part of the contract)
• Use of a station
• Use of electricity, water, and credit card machine
• Use of the shampoo area, towels, hair dryers, and other salon equipment
• Use of the reception area
In this type of arrangement, you may also be allowed to add other amenities to your monthly lease rate, such as use of a receptionist or use of the salon phone.
A booth rental will also include the obligations of the salon owner, such as:
• Paying the taxes on the salon
• Protecting the salon property from damage
• Indemnifying the salon from losses resulting from your actions or omissions that harm a third party With iDitch, none of these applies.
Marketing Your Services with iDitch
One of the most important aspects of working on the iDitch platform is the marketing aspect of it, you can market yourself in any which way you so desire. Your iDitch profile page is linked to four different social media networks, namely, Facebook, Instagram, pinterest and twitter. You can use these social media networks to attract new clientele to your iDitch user account page.
There is a plethora of ways to market yourself and your business on the iDitch platform, such as iDitch using your images and profile to attract clients to the platform and to you on other social media networks like on google search engines, other websites and other affluent social media platforms. Your user profile page on our platform should feature your training, experience, list of client services, and before-and-after client pictures. In addition to your personal social media presence advertising your specialty skills and experiences, you must have ways to drive traffic, which often includes incentives for prospective clients, and teaming up with other Artisans to have events where the artisans can make additional income.
Protecting Yourself and Your Business
As an independent contractor, you must protect yourself and your business by carrying personal liability, disability insurance, and health insurance. You must also protect yourself by keeping good records and paying all necessary taxes. Many Artisans use accounting or financial software programs (like Intuit or QuickBooks) that keep expenses, taxes, and income organized and readily accessible for tax purposes. Keep in mind that as an independent ontractor or Artisan on the iDitch platform, you can deduct business-related expenses, such as the purchase of equipment and supplies, so it is important to establish and maintain a concise system of bookkeeping.
Pay close attention to your client, making sure that your client is satisfied and content beyond compare with your quality of work.
For example, performing services that your client needs to be improved upon, you gladly accept the gesture and improve on whatever it is that your client needs improvement upon pending his/her approval.
EMBRACE CHANGE,…RE-INVENT YOUR LIFESTYLE…..iDitch.
iDitchTechnologies INC. 2018