About the Institute
The purpose of The Qnity Institute is to create economic empowerment through actionable data and financial literacy. Building on over a decade of data collection from Qnity Inc. and other ground-breaking data projects, such as the 2TO10 Project, the Institute was formed to deepen data collection and expand research initiatives. The Institute is separate from Qnity Inc., a learning and development company that seeks to create greater financial wellness for small businesses, professionals, and students.
TOM KUHN
Chair & Project Lead
Qnity Founder Tom Kuhn is a trusted financial expert and leader in the beauty and wellness industry. He has studied the economics of pro beauty, including salon compensation, for 28 years. He's performed over 300 financial assessments, led groundbreaking studies on multi location salon performance, and has been an advisor to many top beauty businesses. Tom is the founder of the 2TO10 Project and is a board member of the non-profit organization Beauty Changes Lives. He has worked globally in owner and/or C-level roles for salons, spas, distribution, retail, and manufacturing. He was a Guest Professor at the Entrepreneurship Center at U-Mass Boston and has worked with non-beauty clients such as Merrill/BOA and JP Morgan/Chase. For the first 15 years of his career, he was a CPA with national and regional firms specializing in creative entrepreneurial companies, financing, and taxation. Tom is dedicated to the financial success and sustainability of the professional beauty industry. He is an educator and program designer, a whole-brain thinker, and is known for making finance and money matters simple, visual, and approachable, especially for creative professionals.
THE STUDY TEAM
Led by Qnity Founder & CEO, Tom Kuhn, the study team is comprised of Qnity’s leadership, as well as independent analysts, CPAs, and PhDs. The team collaborated to collect and analyze the data, develop the written report, and managed relationships with sponsors, advocates, and other stakeholders.
THE THINK TANK
The members of the Think Tank served as research consultants and provided valuable contributions to the development of the survey. Additionally, they shared insights and reactions to the preliminary findings of this study, which helped us develop the narrative behind this report.
Study Participant Testimonial
Recently my salon team was asked to participate in a study for Qnity. During the process of submitting and answering the questions I started to dig a little deeper into the numbers for each individual stylist. Every 2 weeks I review payroll and glance at each check stub but I had never sat down and completely figured out what each individual stylist is taking home bi-weekly (plus tips) for the amount of hours they work. Even though I am still also a full time stylist behind the chair, and I know what I take home, I was still shocked (in a positive way) to see exactly what each stylist was making per hour.
Fast forward a couple of weeks and we as salon owners were asked to sit on the advisory board in the cosmetology department at our local community college. We have had some struggles in recent years with this cosmetology program because of the instructors views on booth rent versus commission. We know they are having trouble keeping enrollment steady and needed our help to continue their funding from the school. Going into the meeting I was armed with all of the totals and percentages that I had recently compiled for Qnity and was able to easily prove that our industry is a solid and profitable industry. We, as a salon, were also able to convey the importance of correct reporting within our industry and help to include this into the curriculum in this particular cosmetology program.
It is so wonderful to be working with Qnity to bring to light that we are apart of the greatest industry in the world and that hairdressers and salon owners can make a great living while making others feel great about themselves!
Jessica Freels | Owner, Hollywood Hair
Acknowledgements
Research and data do not exist without those willing to invest their attention, time, and money. We rely on the support of participants, sponsors to help provide financial support, and advocates who help to support driving participation.
Special Thanks to Our Sponsors
A Note from the Chair
Throughout my career, I have witnessed a negative public perception of the greater professional beauty industry. A common story is that cosmetologists work in a low-tier profession with correspondingly low earnings. However, those of us who have extensive experience and access to data in this industry have found that a career in professional beauty can be highly competitive from an earnings, hours worked, AND quality of life perspective.
In my research, I have become increasingly alarmed to find that much of the data about the industry made available to the public is incomplete, flawed, and/or biased. Accurate data about compensation, workforce studies, financial literacy and more is vital to the sustainability of the industry.
The lack of industry-specific data combined with negative characteristics from several media outlets pose a critical threat to the sustainability of the industry, which is forecasted to grow 11% by 2031.*
The first study was kicked off in Q1 of 2022, and started off as a grassroots Study to equip small business owners with data to better communicate earnings to their staff. Since then, it’s has become an unprecedented industry-wide data collaboration and has evolved to creating a separation division of Qnity purely dedicated to providing actionable data and financial literacy.
We are grateful that so many small business owners, beauty brands, distributors, and other professionals stepped up to make this research possible. We will continue to produce studies with high quality methodology that provides a more complete picture of the possibilities of a career in beauty, serves as an additional point of reference for those considering a career in the industry, and encourages those currently working in the industry to recognize the value of their careers.
Additionally, we hope that Qnity Insitute Reports, such as the Professional Beauty Compensation Study will help change the hearts and minds of those who have yet to see the professional beauty industry the way we do.
