THE RISE OF GLOW COMMERCE

In the ever-evolving beauty industry, innovative beauty solutions are making waves by empowering professionals like you. This exciting movement, known as Glow Commerce, is all about celebrating your independence, creativity, and entrepreneurial spirit. It's a game-changer, offering you the chance to take control of your career, embrace authenticity, and directly monetize your unique artistry.

The Changing Industry Dynamic

Coined by Aaron Coats, former CEO of the Cherry App, an on-demand beauty platform catering to independent beauty professionals, Glow Commerce emerged in response to a post-2020 surge of interest in breaking away from traditional salon structures. “We(Cherry) witnessed a surge of applications from professionals eager to build their businesses outside the traditional salon environment," Coats recalls. This movement reflects a broader trend where beauty professionals seek hybrid working models that fuel creativity, career goals, and evolving consumer preferences.

The Rise of Independent Beauty Professionals

Recent data from Kline Group highlights a significant increase in independent stylists within the salon industry, particularly since 2020. This trend underscores a growing preference among professionals to operate independently, leveraging digital platforms to amplify their client reach.

Social media platforms have become vital to the growth of independent professionals. These platforms not only showcase portfolios but also enable direct client interactions and the building of personal brands. The rise of influencer marketing further empowers these professionals to collaborate with brands and expand their clientele beyond traditional salon boundaries.

Economic Significance

The economic impact of Glow Commerce is profound. In 2020, the beauty service industry in the United States was valued at approximately $60 billion. Globally, the beauty and personal care market reached a staggering $493.34 billion in the same year, driven by consumer demand for organic and personalized beauty solutions. The shift towards e-commerce and online sales diversifies revenue streams for independent professionals, enhancing both accessibility and client engagement.

Glow Commerce promises continued growth and innovation within the beauty industry. As technology evolves and consumer expectations shift towards authenticity and personalized experiences, independent professionals are poised to lead these transformations. The democratization of beauty services through digital platforms enables professionals to forge deeper connections with clients, redefine service standards, and create business models that cater to diverse consumers.

Looking Ahead

Glow Commerce is more than just a trend—it embodies a fundamental shift towards empowerment and authenticity in the beauty industry. By embracing independence and leveraging digital tools, beauty professionals are not only meeting but also shaping market demands. As this movement gains momentum, it heralds a future where creativity, entrepreneurship, and unlimited opportunity converge to redefine beauty services globally.

This is a time to embrace the opportunities that come with it, honoring the resilience and creativity of professionals like you who are constantly pushing boundaries and redefining industry standards.

 💵 BECOMING A BOOTH RENTER

Is it time to leave your commissioned salon?

In a lot of situations, a commission salon is the best place to build a business, but sometimes it’s not. If you’re thinking about going to booth rent, here’s a checklist for you to make sure the time is right. 

• If you’re not working with your community, you will not be successful. If you’re not working with your true salon family, it could be time to think about making a move. Your community is a huge factor in your success. The salon itself can be wildly successful, but it doesn’t mean it’s the right salon for you. 

• Your salon owner isn’t open to change. If they aren’t willing to listen to the ideas you bring to the table, consider finding one that is more progressive.

• You aren’t able to have constructive conversations with the manager or owner. If they aren’t open to discussion, interested in coaching you, or in partnering with you in the growth of the business overall (eg. education, training); consider alternatives.

Are you truly ready to grow your business as a booth renter?

Have a real heart-to-heart with yourself and assess if you’ve been putting in all the work to grow your business. Because if not, going to a booth rental environment isn’t going to be the magic key to everything. If you’re tempted to leave but have one of these situations, think about re-evaluating:

• If you aren’t building a clientele fast enough, but also are not comfortable using modern marketing techniques, it may not be time to leave your commission salon. It can be twice as hard to build clientale as a booth renter, due to the additional financial pressure that didn’t exist before. Give it your all building your business and learning to use social media and email marketing before moving.

• You’re not seeing at least four referrals every month for three consecutive months. You should expect at least 15-20% drop-off of your clientele when you leave the salon, so it’s important to have a steady flow of clients. If you aren’t seeing four new referrals a month, your income will take a hit when going solo.

• You aren’t ready to work twice as hard as you’re working now. Booth rental is a lot of work. You now have to get your color, manage your taxes, and maybe work on your laundry. Are you going to have to manage retail? Are you ready to go all in on marketing and providing an incredible guest experience? If not, try to cut your teeth on those experiences before going out alone.

The top four things to look for when seeking out a booth rental salon

• Location. Think about traffic, your family, and the possibilities of building a clientele there. Choose an area that makes the most sense for you and your lifestyle at this time.

• Culture and vibe. Look at the salon’s community, its goals, and the kind of clientele it attracts. The best salon location with the worst salon vibe is going to be doomsday. A salon that’s in a good location with a killer vibe is going to be all good.

• Cost of rentals. Always make sure you can afford it. Sometimes you do have to pay the price to get that great location and culture, but is that realistic for you right now? Or is it better to go back to that checklist, and work on social media and referrals?

• Their social media. Look for salons that prioritize culture and marketing, not because you expect them to build your clientele, but to work for somebody who thinks it’s as important as you do.

How to calculate your finances to determine if you can afford to booth rent

Let’s calculate the cost of the business that you have at this moment.

• Break down all of your services and how much it costs. First, look at the cost per color application. How much does it cost to do a root touch-up? Then look at your clientele and how many root touch-ups you do in a month. Take that cost per application times the number of root touch-ups to get your root touch-up cost for the month. Do the same thing for balayage costs and your other services. Guesstimate high; don’t undercut yourself in calculating how much it’s going to cost to run your business.

• Add 15 percent to stock your back stock properly. Have a small surplus of color, so you’re not running to the beauty supply store the night before your client comes in.

• Rent and pre-opening costs. Taking on a color or retail launch? Build in the cost of additional color or a resale license, permit, or business license for your city, county, or state.

• Your website and other marketing. A website, cards, notecards, and postage are marketing pieces you need to run a truly successful business. Set aside somewhere between eight hundred and one thousand dollars for your marketing costs.

• Don’t forget taxes. After subtracting color, cost of rent, marketing, and pre-opening expenses, deduct 35 percent of your income for taxes. You’re going to be paying a little bit more since you’re independent versus being an employee. 

That final number is your take-home pay. If you lost 15 percent of your clientele, could you still pay the bills and have food on the table? Make sure that you are going to be in a good financial position if you’re going to leap.

POWERING YOUR BUSINESS GROWTH: BALANCE SHEET GUIDE AND TEMPLATES

A balance sheet includes three categories: assets (what is owned), liabilities (what is owed), and owner’s equity (who owns what).

Key Elements to Focus on Balance Sheet

1. Assets: This section includes everything the company owns that has value. Assets are typically divided into current assets, which can be converted to cash within a year, and non-current assets, which are long-term investments (e.g., property, equipment, patents)

2. Liabilities: These are the company's obligations or debts. Like assets, liabilities are categorized into current liabilities, due within a year, and non-current liabilities, which are long-term debts.

3. Equity: Often referred to as owners' equity, this represents the residual interest in the assets of the company after deducting liabilities.

4. Balance Sheet Equation: The fundamental equation of a balance sheet is Assets = Liabilities + Equity. This equation ensures that the balance sheet is balanced and provides a clear view of the company's financial position at a specific point in time.

5. Comparative Analysis: If available, compare the current balance sheet with previous periods to show trends in asset growth, changes in liabilities, or shifts in equity. This can indicate the company's growth trajectory or financial challenges

Importance of Balance Sheet

Balance sheets are beneficial for small businesses and corporations alike, as they provide valuable financial information about the business. Balance sheets are useful for:

1. Demonstrating success. When a balance sheet compares two or more financial periods, it can demonstrate business success or show areas of weakness financially.

2. Determining risk. A balance sheet outlines all debts and liabilities to help a company understand if it has borrowed too much or needs to liquidate more assets.

3. Securing capital. Balance sheets are required to obtain business loans from most lenders and investors, as they demonstrate to the lender a business’s ability to repay debts and increase profitability.

4. Measuring financial health. Balance sheets not only demonstrate potential profitability, but they also can reveal the liquidity, solvency, and cadence (turnover) of a business, which can be helpful to compare with competitors and internally assess financial performance.

5. Luring and retaining talent. When looking to hire lucrative employees, a balance sheet can demonstrate job security and the stability of the business they’re being offered a position with. Sharing a balance sheet with potential new hires may not be common practice for small businesses, but public companies are legally obligated to disclose this information, so it must look reliable

   Helpful resources you may check:

   Balance Sheet: Explanation, Components, and Examples

   Accounting - Key Elements of a Balance Sheet

   Understanding Balance Sheets

   How to Read & Understand a Balance Sheet | HBS Online

   Balance Sheet – Definition, Example, Formula & Components

💅🏻NAIL TECHNICIANS: NAIL ART TRENDS INSPIRED BY RUNWAY FASHION

Runway-Inspired Color Palettes

This season, soft mauve tones and bold color blocks dominated the runway, particularly in collections from renowned designers like Stella McCartney and Prada. These colors can be beautifully adapted into nail designs, offering clients a chic, modern aesthetic. For instance, consider creating nail art that incorporates various shades of pink, accentuated with stripes or color blocking to reflect the vibrant energy of the season.

Textured and Reflective Finishes

Textures were a significant theme on the catwalk, with designers like Valentino and Dolce & Gabbana showcasing luxurious materials. Translating this into nail art can involve using textured finishes or reflective accents, such as chrome or glitter. For example, a metallic finish paired with intricate designs can evoke the depth and dimension seen in runway collections. Incorporating elements like lace or 3D embellishments can elevate a simple manicure into a statement piece, perfect for clients looking to stand out.

Playful Patterns and Designs

Fashion Week also highlighted playful patterns, such as argyle and celestial motifs. These designs can be adapted for nail art, offering a fun twist that appeals to a wide range of clients. Consider creating designs that feature argyle patterns or celestial sparkles, which can add a unique flair to traditional nail art. The versatility of these patterns means they can be customized to suit individual tastes.

Embracing Minimalism

While bold colors and intricate designs are trending, there’s also a strong movement towards minimalism. Clean, understated manicures with subtle details are gaining popularity, as seen in shows by Jason Wu and Proenza Schouler. This trend emphasizes nail health and natural beauty, focusing on techniques like negative space and simple lines. Offering clients a minimalist option can cater to those who prefer a more refined look.

SOCIAL MEDIA IN JUST 3 HOURS A WEEK!

Feeling overwhelmed by social media management? You're not alone. However, transforming your approach can make social media not only manageable but also efficient. Here's how you can craft a social media strategy that fits into just three hours of your week, ensuring your business stays relevant and engaging without consuming your life.

Quarterly Planning

• Every 90 days, reassess your business goals, brand message, and audience needs. Analyze past content performance to refine your strategy for the upcoming quarter.

• Content Categories: Identify the types of content that resonate with your audience, focusing on solving their problems and aligning with your brand's unique value proposition.

Weekly Execution

• Caption Writing: Spend 60-75 minutes crafting five captions that reflect problem-solving, storytelling, and your brand's uniqueness.

• Photo Matching: Pair captions with visuals to enhance engagement.

• Scheduling: Allocate 20 minutes to schedule each week.

Daily Engagement

• Comments & DMs: Dedicate 15 minutes daily to respond to comments and DMs, fostering community and customer service.

• Awareness Strategies: Use the remaining 15 minutes for broader visibility efforts like optimizing your Google Business Profile or engaging in targeted Instagram activities.

By following this structured approach, you can maintain an active, engaging social media presence with minimal time investment, keeping your business front and center in your audience's feed.

FEATURED JOB OPENINGS

• Austin, TX | Waxing Technician (high commissions) |

  $15 - $30/hour

  Location: European Wax Center

• Pflugerville, TX | Salon Booth Renter (Hair) |

  $100 - $150/hour; Part-time, Benefits

  Location: Glam Beauty Bar

• Katy, TX | Licensed Massage Therapist (LMT) |

  $38 - $45/hour; Full-time, Benefits

  Location: All Is Well Holistic Spa

• Dallas, TX | Nail Technician | 

  $28 - $40 /hour; Full Time, Part-time

  Location: Pink Pedi

• Georgetown, TX | Licensed Esthetician

  $29 - $45/hour; Full-time

  Location: Clean Slate Waxing Lounge

• Dallas, TX | Makeup Artist 
  $18.52/hour; Full Time, Part-time

  Location: Tommy's Girl

UPCOMING EVENTS

• Sep 12 | No Makeup, Makeup Workshop | Islandia, NY

• September 14 | Hair Business 101 (Hybrid) | Newport News, VA

• September 14 | Intro to Lash Extension Class | Brooklyn, NY

• Sep 16 | Premier San Antonio | San Antonio, TX

AROUND THE WEB

🐈: Not the same: Cat vs Dog Reflexes

🎵: Any Requests?

🐟: Feeding frenzy

😺: Midnight Cat-ivities

Lili is a financial technology company, not a bank. Banking services are provided
by Choice Financial Group, Member FDIC, or Sunrise Banks, N.A., Member FDIC