282 How Much is YOUR SALON Really Worth? With Susan Wos

**PLEASE NOTE: There was an issue with the audio on the episode published earlier today. This episode has the corrected audio.**

Today's guest is Susan Wos, an American-based former hairdresser turned business broker who specialises in the salon industry and has now worked with clients in America, Canada, Dubai, UK and Australia… 

Susan brings valuable insights of the inner workings of the salon industry to the brokerage business.  

In today’s podcast, we discuss:

- How much is your salon really worth?

- When is the right time to sell your salon? 

- What are the biggest misconceptions about buying and selling salon businesses?

As well as…

The importance of keeping clean financial records, understanding the value of independent contractor income versus employee-based models, The dynamics of selling to existing staff, and why it’s important to plan an exit strategy from the start.

And so much more!

IN THIS EPISODE:

[01:13] Introducing today's guest: Susan Wos

[02:01] Susan's journey from hairdresser to business broker

[05:05] The challenges and insights in selling salons

[10:12] The intricacies of valuing a salon business

[14:17] The impact of self-employment on salon valuation

[17:51] Discussing market trends and buyer-seller dynamics

[21:44] Emergency sales: The strategies and considerations

[23:53] The importance of valuing your business realistically

[24:26] Planning your exit strategy early

[25:21] The importance of building a sellable business

[30:27] Selling to existing staff

[33:35] Typical buyers in the salon industry

[43:38] Connect with Susan Wos

Want MORE to help you GROW?

📚 Check out our Bestselling GROW Books https://growmysalonbusiness.com/books/

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RATINGS + REVIEWS

🙏Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated! 
 

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Until next time!
 Antony

RESOURCES MENTIONED IN THIS EPISODE:

Free Business Valuation Calculator- https://salonspaconnection.com/free-salon-business-valuation/

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