Unless my kids want something "fancy", I cut their hair at home. I invested in a decent pair of hair cutting scissors that have more than paid for themselves with all the $ we save on haircuts. Of course, my girls like their hair long and my boys have mops of curls, so their go-to haircuts are easy for me to manage.
I just started taking the older two to a regular salon. Quite honestly it is not much more expensive since they offer kid rates. Plus there are no toys surrounding them like at the kid salon so no temptations to ask for extra things.
Our neighbor is a hair stylist. When the kids were younger she would cut their hair at her house but in the last couple of years we've been going to her salon. It's a good experience because it's someone they are comfortable with and they like getting their hair shampooed at the sink now!
When they were younger, I took them to a chain salon or kid-friendly hair salon but now that they are both older, I take my daughter to my salon and my son to a barber. They like feeling like "big kids" and I feel like they get a better cut or style by going to the same stylist each time.