You bet they are! As long as you manage your business with the same effort and respect that you would a store-front, these businesses can bring in a lot of income with fewer expenses, leaving more money in your pocket!
What do I need to have a home business?
First, register your business.
You must register your business name. There are a few choices for you when registering your business, most people who run a small business opt for a sole proprietorship.
You will also need a business license, not to be confused with your hairstyling license or esthetics certification.
You will also require a business license and a development permit. This type of license is granted by the city. Home-based business must follow special regulations since they are located in neighbourhoods designed for living, not business.
Zoning bylaws are used to determine whether the city can grant you a home business license. Don’t be surprised if your neighbours are contacted to ask if they are ok with your particular business being on the same street as them.
Beauty industry home businesses are MAJOR businesses.
Because beauty industry businesses have clients coming to the home for services that are not typical of a residential area, they are considered a major home business. Major home businesses cause a degree of interruption to the neighbourhood, for example, less parking available for residents and their guests, versus minor businesses that typically do not receive clients in their home.
What about insurance?
Insurance is important for any business, including a home business. There are some insurance companies that specialize in beauty industry insurance, an insurance broker may be able to help you find the right company for you. Your insurer should understand the specific challenges of beauty industry businesses. Some insurance companies serve both home and business.
Fees and other things to consider.
Registration/licensing/insurance all cost money. Luckily, home businesses today have the advantage of free marketing on social media! Instagram in particular is an excellent tool used by all beauty industry businesses, but has a spectacular impact on home businesses. Many clients use instagram as a way to find their service provider, who quite often has a home business.
All Service Providers know that tips make a big difference! They are a great way to plump up that bottom line. To a degree, entrepreneurs have the ability to maximize their potential for tips by controlling different aspects of service delivery.
Service Providers who are self-employed have control of every detail of the client’s experience. For example, décor, cleanliness, and punctuality are only ripples in the vast sea of customer excellence you can offer to attract a certain clientele.
Tips are a game changer, however, it can get a bit confusing when it comes to claiming them come tax time, especially if you pay yourself as an employee, or have employees.
Do I include tips when calculating CPP and EI deductions?
There are 2 types of tips.
Controlled tips are mandatory to the client. For example, spa parties may include a mandatory 18% gratuity that is included in the bill. If you include or “control” the tip amount in the final bill, then these tips must be included in the insurable earnings (wages + VAC pay + tips + commission). Anything considered “insurable earnings” must be accounted for when calculating the EI and CPP deductions.
Direct tips are out of your control. A client may or may not tip you or your service providers. Only the client is in control of the amount of tip they choose to leave. You as the employer are simply passing the tip from the hands of the client to the hands of your service provider. Direct tips are NOT considered insurable hours and are therefore not included when calculating EI and CPP deductions.
The declaration of tips is the responsibility of the tip reciever when filing their personal taxes.
***VENUE RENTAL UNAVAILABLE JAN 1/22 to MAR 31/23.***
Welcome to our specialized venue! Our venue makes your course delivery easy, because it is equipped to meet your beauty industry needs.
A venue that fits like a glove.
We are beauty industry experts. As a result, we understand your venue rental needs. Our goal is to make your training event flow as smoothly as possible.
Our venue is fit to deliver a variety of esthetics and medical esthetics courses. For instance,
Botulinum Toxin and Dermal Filler procedures
Leave the large luggage behind!
ESG is equipped with 5 spa stations and 5 nail stations. In addition, you can furnish your stations with tools and equipment as needed. We carry a wide selection, from PPE to pedicure basins, ESG has you covered.
Models play an important role in service demonstrations and technical training. We can help secure models for your event.
South Central location
Executive Spa Group is located in the historical yet trendy neighbourhood of Old Strathcona. It not only offers convenience, but excitement as well!
Located minutes away from downtown Edmonton, Old Strathcona is a busy, centrally-located neighbourhood. It offers you and your students many amenities. For example, parking, transportation, hotels, and restaurant options.
After training hours, you can enjoy the remarkable food and drink scene Whyte Ave has to offer. In conclusion, ESG is the obvious choice for your venue rental!
To register, call (780) 604 2772 # 102. Once you are enrolled you will receive email confirmation, receipt of you deposit, and your class schedule. Please have your credit card ready as we will be taking a $500 deposit to enroll you in the course. You can also register online by clicking HERE.