How to Maximise your Profit in your Lash Business - with The Lash Accountant

Who is The Lash Accountant?

Let me introduce myself, I’m your new life saver when it comes to financing your lash business. I will save you SO much time and effort with the part you hate the most about your business!

Your finances, which I know you always push to the back of your to do list!

Soon, The Lash Accountant will release your very own profit planner and this will save you so much time and make sure you’re making a good profit in your business.

So let’s talk about profit! Here’s a sneak peak into what the profit planner will teach you, which has NEVER been shared before, it’s a Lashology exclusive!

Your Treatment Costs (Materials)

How much do you spend on products/materials per treatment. This will even be down to the spoolie.

There’s a few tips and tricks for working out how much a treatment costs you.

Let’s give you an example through a classic lash set!

For things like under eye patches, spoolies, etc, all we need to do is divide however many you purchase by the price. For example, if a pack of 100 spoolies is £3, each spoolie costs 3p. If you use an average of 2 spoolies per set, that’ll be 6p.

For things like bonder, primer, lash shampoo ect, I assume I use 1ml per client of each, so if my bonder is 100ml bottle, I work out how much 1ml costs! Simple!

It’s a little trickier for lash trays, I work out how much 1 strip is from my tray, mark out each strip into quarters, it’s best to use fresh strips for this. Then at the end of a set I see how many quarters (roughly) I used, add those up, then work out how much you’ve used! For example, my tray cost £17.00 and it has 16 rows, that’s around £1.06 per strip. If I use 4 quarters of my strips, that totals 1 full strip, so that’s £1.06 per lash set on average.

The good thing is, you don’t really need to know any of this with my profit planner!

The spreadsheet planner will calculate everything for you, all you need to do it type in the numbers for the products you use and it works it all out for you, so I wasn’t exaggerating when I said The Lash Accountant is going to make everything so quick and easy for you.

The Business Costs

These are the costs you may not find so obvious.

We have the usual costs like salon rent, fuel/ travel, business insurance, but you should be putting aside much more for the following things:

Pension: I recommend getting a pension at around 25 years of age, that gives you a good time to start putting money aside for your future, we all want an early retirement!  

Holiday pay: This can be however long you’d like, I personally take 6 weeks holiday, and this will be worked out by your desired hourly rate that goes ONLY to you, no business expenses (let’s say £20, plus the money that you still need to pay while on holiday such as rent, pension etc.)

Education: Our education always needs to be updated, make sure you put money aside to go towards courses/ events throughout the year.

Taxes: You need enough money for your taxes, I put 10% of my earnings aside for my taxes so that when it comes to paying them, you’ll have some help.

This is all included in the profit planner, the planner will help figure out how much you need to be charging per hour depending on your weekly work schedule. This cost can then be multiplied by the time of your treatment! Such as, x2 for a 2 hour lash service or x0.25 for a quarter of an hour lash tint. Again, the spreadsheet will automatically do this.

Finalising Your Prices

With your treatment prices calculated, the final thing to do is to add in how much you want to earn per treatment/ per hour. This is determined on your worth. I personally like to charge £20 an hour, and that amount will ALL go to me for personal use.

Your profit planner will work out your hourly profit for each treatment for you! So you can take home more pay for your personal life PLUS you’ll have extra income to invest into your business!

Your lash business is about to flourish!

And it’s all down to a simple profit planner!

Make sure to follow @The_Lash_Accountant on Instagram and sign up to get early access to the profit planner which will be released soon!!