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Old 08-29-2011, 06:50 PM   #11 (permalink)
 
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Re: New franchised salon

Hmmm In 7 years it will be time to buy new equipment seems like a long time to go without a paycheck, just sayin. Does the franchise get their royalty off the top?
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Old 08-30-2011, 04:05 PM   #12 (permalink)
 
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Re: New franchised salon

I am paying myself as I am the journeyperson stylist working here. Also the franchise has a royalty of 5%, that is the ideal plan of 7 years but if things keep going as they are it will look more like 2.5 - 3 years before everything is paid off. I also didn't mention we are almost fully staffed to meet the demands of the community here. 4 stylists (all of which do facial waxing and 2 also do gel nails, pedicures and manicures), 2 massage therapists (one rents a room from us and the other is on commission), 2 estheticians and 2 receptionists
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