Many readers ask if we can communicate via phone or email regarding their specific salon issues. Most inquiries are best handled through the comments because other readers can benefit from the exchange as well. Other times, it would be easier to speak via email or phone. To make reaching me a little easier, I have added a contact form to the right sidebar of the blog. I'm happy to do this as long as it is manageable.
Whether by email or comments, I appreciate hearing from you! Thanks for reading.
I must say the blog post is just useful for everyone else reading it because the information and knowledge it contains is very important. I like the post! Excellent job! Keep sharing such valuable information through your blogs.
ReplyDeleteCindy,
ReplyDeleteI appreciate the great information on your site. It's not common to brain-storm with other salon owners. My wife and I own a 2 location salon, our first is 10 years old. She runs the place, and I do payroll and taxes, and otherwise help where needed. We are commission based, and I found your site when searching about "team-based pay". It's something I'm learning more about.
I have a few comments and questions about a few topics that I've seen mentioned in various posts.
My first question is about revenue for tax purposes. My CPA has used revenue numbers from Quick-books, as that is received by the bank, and seems to make her job a little easier. My issue with that is that it totally misses all cash transactions, as well as includes tips, received sales tax, and generally isn't as accurate as just taking revenue from our salon software - Envision. I'm not sure where the benefit is in using a number that you just have to subtract other items from. You mentioned that you are an accountant, how do you do it, or recommend that it be done?
Secondly, elsewhere you mentioned that you show your employees your P&L to be open about how the business is operating. Have you ever experienced a time where you were making a profit, and they resented that you were "taking all their money"? My apprehension on something like this would be to show a profit of $100,000, on revenue of just over $1,000,000, which is 10%, nothing huge, but since they don't "gross" $100,000 each, they would likely resent us for that. It's a fear that I have.
Lastly, is the only place to get details about the team-based pay from the Strategies company, and if so, do you feel that they are worth the rather significant cost?
I appreciate any feedback that you could provide.
Lance (Alias ;-) )