Are you confused on the commission percentages you should be paying your stylists and service providers? In today’s podcast, Jason Everett and Doug Campbell, go into depth on how to portion our proper commission payouts to keep everyone on track for success.
Takeaways:
01:22 - Are you rewarding yourself for being an owner?
03:05 - The 3 main types of income you should be pulling in as an owner
07:30 - Are you paying yourself for behind the chair time as the owner?
08:35 - Jason covers the various areas $ should go to calculate your stylists commission
15:58 - Planning for profit
20:13 - How to separate your profit by service
Quotes:
“Number one mistake is that they don't figure in their profit margin at the beginning”(Doug Campbell) (01:28)
“If you want to have a real business, hopefully with any business, the goal should be at some point to sell it.” (Doug Campbell) (03:56)
The goal should be to properly reward your stylist for working inside the salon and have them get paid at a level that they make money and the business can make money.” (Jason Everett) (05:54)
“If you train your staff properly and if you can help them achieve what they're after, which is earning more income, growing their own personal book of business so they can have the lifestyle that they want and you can grow it. You don't need to pay more commission. (Jason Everett) (12:10)
Links Mentioned:
High Performance Salon Website
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