283 Should the Salon Owner Earn a Wage AND Get a Profit From the Business?
Grow My Salon Business Podcast
Audio is streamed directly from the publisher (media.transistor.fm) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
In this episode of the Grow My Salon Business Podcast, I address a common question from salon owners about the distinction between business profit and the owner's wage.
We’ll cover why salon owners should receive both a wage and a return on their investment.
Drawing an analogy with other investments, I explain the importance of separating these two income streams and discuss various ways that salon profits should be allocated within the business.
IN THIS EPISODE:
[01:15] Listener question: Why are the Salon profit and owner's wages two separate things?
[02:00] Investment and profit explained
[03:09] Analogy of the stock market vs salon business
[05:56] Discussing investor vs employee earnings
[06:32] Explaining the salon owner's investment and profit
[08:50] The different uses of business profit
[10:46] Conclusion and course reminder
Want MORE to help you GROW?
📚 Check out our Bestselling GROW Books https://growmysalonbusiness.com/books/
🆘Management overwhelm!? Download our free checklist! This checklist will help you get clarity on where you're at https://growmysalonbusiness.com/management-checklist/
RATINGS + REVIEWS
🙏Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!
They do matter in the rankings of the show and help other people find my podcast.
👉 Here's what you do:
- On your phone,Click here (Read steps below first)
- Scroll down to 'Ratings & Reviews'
- Tap on the empty purple stars and rate 5 stars
- Click on ‘Write a Review’ I love to hear what’s been helpful and what you love about the podcast! Thank you for your support! 🙏
Until next time!
Antony
RESOURCES MENTIONED IN THIS EPISODE:
The Financially Savvy Salon Owner - Free Masterclass - Save your seat!
The online Money Course - Enrolment is open!
👉 FOLLOW US!