dcjjp2

Good Luck with that.... LOL!

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Jeff

Marca

Why not change the benefits a bit? May become a lot easier and you'll attract 'better' people.

engfant

To put someone in charge of your salons is just crazy. This just CAN'T be for real.

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Nothing is more dangerous than stupid.

The #1 cause of death is natural causes...but where's the ribbon?

http://mercola.fileburst.com/Flash/A...wsubscribe.swf

stacy_teague

Its called leverage. you put your time in, then you can walk away and still get paid. It is for real and it is smart business. Why own a business if it owns you?

Neon Beach

Leverage eh?

3 salons to look after looks like a lot of time to put in with very little walking away.

pcstutsman

I wish I made 75K LMAO

Yeah, you need to make sure you are paying appropriately. Obviously alot of factors play into the pay, benefits, etc. But offering small benefits will benefit you in the long run. Commissions, free tanning, lotions, etc. Paid time off and other things you can offer after someone has been there a year. Just a suggestion. But, if this person is running three stores, its almost a supervisory position rather than management. Just remember, you get what you pay for, if you pay less the quality of work will be less.

wreet2

hmmmm. what is the sales of the three stores? what is the profit at the end of the year? Then ask yourself what u can live with? If the person can increase your sales and run it the way you would be happy with. thats is where i would start.

billable

Look for someone that is interested in owning the salon. Offer them salary that is a draw against profits. Offer them an equity stake in the business over time.

For example it may look like:

$500 a week salary guaranteed minimum.

Annual bonus to be paid in August after year 2. Calculated as 5% of operating net profit after controllable expenses.

After year 2, an equity % of the business of 10% each year, cumulative to 49% in year 7.

Pick numbers that you can both agree on. If you don't want to run the business, you need to find someone that will run it like it's theirs. That won't happen unless it is theirs at some point. Giving them 49% means you retain ultimate control, but makes them a partner. You also want to give them an option to buy you out at some point. They will come to resent you getting half of everything they are working for, at some point. There needs to be a light at the end of the tunnel for them.

Neon Beach

Partners are the bestest.

billable

Not fond of having partners, but if you are going to turn all aspects of your business over to someone, better a partner than an employee.