Is it better to work for yourself or work for someone else? 

There are many things to consider.  But, before you decide you need to know if you are suited to working for yourself.  TAKE THE TEST

EMPLOYMENT IN THE HEALTH AND WELLNESS INDUSTRY

Your options are to work in a spa, salon, or health centre, or work for a chiropractor or naturopath. 

Your gross earnings will be about 1/2 of what they would be if you worked independantly for the same number of hours.  However, you will have no overhead expenses, so your net take-home pay could end up to be almost the same. 

You will likely work more hours, which will increase your gross income.  However, you will not have the tax advantages of being self-employed, which means you will pay tax on your earnings.  In the end, you will have less money in your pocket. 

Unless you are certified in a therapy that is in high demand, or in multiple therapies, finding a steady job may not be easy to find. 

SUCCESS TIP:  If possible, work on a contract basis, so you have the tax advantages of self-employment, with the income benefits of a steady job 

SELF EMPLOYMENT IN THE HEALTH AND WELLNESS INDUSTRY

Self-employment offers a lot more options and lots of advantages.  However, it takes the right kind of person to be successfully self-employed.  Is self-employment right for you?  TAKE THE TEST

The main advantage to self-employment is freedom.  You set your own hours and rules. 

Self-employment also gives you the advantage of starting part-time while maintaining a day job to provide steady income.  However, there is a great danger in doing this if you don't lay out a plan to wean yourself off your pay-check job.  Find out why ....

Self-employment may be your only option if no one wants to hire you.  Essentially, you are creating your own job. 

There are many tax advantages to self-employment.  For example, all your expenses are tax deductable, including a portion of your home expenses.  You'll be able to claim auto expenses such as gas, insurance and repairs.  You'll be able to claim expenses for uniforms, business cards, advertising, equipment and supplies. 

You'll have all these expenses just the same if you work for someone else, but, you won't be able to deduct them from your income.  If self-employed, you can also carry losses forward or back in years to offset income tax you owe, and apply your business losses against your spouse's income to lower his or her income tax.  That can save you thousands of dollars in income tax.         

However, there are draw-backs.  Your income will fluctuate and be more sporadic.  For many people that can be stressful, especially if you are self-supporting.  However, the challenge can also be motivating.  

You will need to learn how to attract clients, and keep them coming back.  In fact, 40% of your time must be spent focused on expanding your clientele and selling your services.  That could make you unhappy if all you want to do is perform your therapies. 

You'll have to keep careful track of your purchases and expenses, and record your income.  You'll need to set goals, strategize how to achieve those goals, and set plans in motion without the help or support of anyone else. 

If these kinds of challenges excite you, then you are likely to succeed working independantly.  If not, don't even consider becoming self-employed.  Or, consider a BUSINESS MENTOR 

There are many ways to operate your own Alternative Health practice.  There are draw-backs and advantages to each.  Find out your OPTIONS  Then decide which option is right for you.