If you would have told us a few weeks ago that salons around the world would be closing their doors, and hundreds of thousands of hairstylists would be out of work indefinitely, we probably wouldn't have believed you.
Though nothing could have prepared us for the current situation we're in, there are a number of steps you can take to prepare for the future. Sarayah Politi, a New Jersey-based salon owner, shared a few tips with us that might help a stylist or salon owner during unprecedented times.
1. Set a monthly budget. In a time like this, it's crucial that you only buy essentials. Figure out how much money you have saved and figure out your monthly expenses. Then, if you're able to, set a budget that will last you for at least 8 weeks.
2. Boost your engagement. Use this time to focus on your feeds and boost your social media engagement. Once everything goes back to normal, you'll be glad that your social media game is where it needs to be.
3. Start an emergency fund. As a salon owner, I try to always be prepared with 3-6 month's rent in my savings. It's good to be prepared for any situation that might arise. Though it won't help your current situation, you'll be thankful you have it in the future.
4. Take this time to utilize education. When you return to the salon, your clients will be thrilled that you've used the time to better perfect your craft.
For more tips, including financial planning tips, check out @hairbysarayah.