Sharkey's Cuts for Kids Franchise
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Small Business Owners: Pay Yourself First if You Want to Succeed, says Sharkey

8/28/2017

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Small business owners: pay yourself first
  Issued by: Sharkey's Franchising Co.

 

As a small business owner, you may want to pay yourself last to conserve money, but sometimes putting yourself first is the trick to succeeding.
 

With so many business expenses to pay for your company - utilities, rent, inventory, staff wages, marketing -- it can be hard to fit your own salary in. And as a business owner, you may assume you should put everything you make back into the business. Not so. The first thing you should do with your money is pay yourself first.

 

Many business owners who bootstrap their companies feel like paying themselves is a luxury; however, it is a necessity for the success of your business.

Why You Deserve a Salary
If you’ve got a nice cushion of savings, you may not need a salary right now to pay your bills. But that could change, so it’s best to prepare for the day when your funds run out. Getting into the habit of paying yourself, even just a little bit, will give you money for personal expenses when things get tight or the economy gets worse. If your business happens to fail one day, you would have gotten something for your efforts by paying yourself and saving money for a rainy day.

 

Giving yourself a salary can have tax benefits for certain business entities, as it reduces your company’s profit. Talk to an accountant to find out what benefits your tax type (LLC, partnership, corporation) has with your salary.

Other benefits to paying yourself include:

  • You can save money for future business efforts or for personal use
  • You will work harder to increase revenues and your income
  • Investors see you are committed to growing your company

 

How To Build In Your Salary

Plan your salary from the beginning. When you set up your budget, include at least a small weekly, bi-weekly or monthly salary for yourself. If you’re seeking financing, having your salary built in is key, as it will increase the amount you ask for from investors. In this case, determine how much you need to live, as well as what you’re worth.

 

If you’re bootstrapping, start by paying yourself a modest salary, even if it’s just a few hundred dollars a week. This can increase as your profits grow. You can also pay yourself through employee benefits such as health insurance, 401K investment or loans.

 

 

Things To Know

If you’re not making enough to pay yourself, consider raising your prices to better reflect what you’re worth.

 

You’ve achieved something great by starting a business. As an entrepreneur, you’re willing to take risks to grow your business. You deserve to be paid, just like any of your employees. Invest in yourself just like you do your small business.

By Susan Payton | Docstoc

Small Business Advisor

Sharkey's Franchising Co. //Norwalk, Connecticut
Tel: (203).637.8911

SharkeysFranchisingCompany.com

 

Franchises Available

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Your Salon's Success is "ALL" about your 4-6 Employees

8/28/2017

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Sharkey's Cuts for Kids

 

Striving for an A+ Workforce = Increased Bottom-Line


Striving for an A+ Workforce = Increased Bottom-Line

Maybe I should have entitled this article STOP SPENDING YOUR MONEY ON MARKETING AND START TRAINING YOUR EMPLOYEES.

OK, not to confuse matters but I do think marketing your business is super important but if you are not training your employees you won’t be able to retain the clients you marketed to in the first place. Then it becomes this vicious cycle.

I can’t say it more, well-trained employees are vital to your salon or spa’s success. Studies have shown that the most successful, and productive employees are those who have received ongoing training. They’re the cream of the crop, often having the strongest interest in the company’s future. In an ideal world, you would be able to hire people who already possess all the skills needed before coming to work for you. But I say, “That’s a pipe dream.”

So, that’s where training comes in. Not only does training arm your employees with needed professional and technical skills, but it also shows that you are invested in them and interested in bringing them with you into the company’s future. This helps keep workers motivated and involved.

Training is often considered optional at many salons and spas because it is thought of as an expense rather than an investment. While it’s true that training can be costly, it's a long-term investment in the growth and development of your people - who ARE the ones bringing in the money.

To successfully gain an A+ workforce and increase your bottom-line follow these 5 helpful tips:
1. Determine your needs. As you probably don’t have unlimited time or funds to implement an employee training program, you should decide early on what the focus of your training program should be. Determine what skills are most pertinent to address current or future company needs or ones that will provide the biggest payback. Ask yourself, “How will this training eventually prove beneficial to the company?

 

Ask yourself these 3 questions:

a. Do I want minimum wage stylists for "my" service business, and why are they satisfied working for me at minimum wage?

 

b. Will I lose my minimum wage employees for .25 to a Subway or a McDonald's?  After spending months training them?

 

c. Do I want to hire stylists graduating from Cosmetology school and have them "experiment" on "my" customers?


2. Promote a culture of learning. In today’s economy, if a salon or spa isn’t learning, it’s going to fall behind. Communicate your expectations that all employees should take the necessary steps to hone their skills and stay on top of their professions or fields of work. Make sure you support those efforts by providing the training needed to accomplish this goal.


3. Choose quality educators and materials. Who you select to conduct the training will make a major difference in the success of your efforts, whether it’s a professional educator or simply a knowledgeable staff member. Having the right training materials is also important — after the training is over, these materials become valuable resources for trainees.


4. Make it ongoing. Select a training time and space that’s conducive to learning. Choose a time that you can be consistent with, like before or after salon hours. And don’t limit training solely to new employees. Organized, ongoing training will maintain all employees’ skill levels, and continually motivate them to grow and improve professionally.


5. Measure results. Without measurable results, it’s almost impossible to view training as anything but an expense. Decide how you’re going to obtain an acceptable rate of return on your investment. Determine what kind of growth or other measure is a reasonable result of the training you provide. You’ll have an easier time budgeting funds for future training if you can demonstrate concrete results.

 


Rewarding employees through certification and other incentive programs, tying training directly to company objectives and choosing the right methods for training are key factors in ensuring that the investment you make in employee training actually contributes to your bottom-line results.

Take a look at your business- Are you doing your best to have a trained and able workforce?

 

Sharkey's Franchising Company

SharkeysCutsForKids.com
Tel: (203) 637-8911
Skype: SharkeysCutsForKids

We would love to hear from you!

 

Sharkey's Cuts For Kids
Westport, CT 06880

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Investing in Technology Paying Off at Sharkey's - Salons Seeing Record Numbers

8/28/2017

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Sharkey's Cuts for Kids Investing in Technology and Seeing Record Numbers!

 

On-line Haircut Appointments Reach 70% at Sharkey's Cuts for Kids Westport! 

 

August/27/2017

 

70% of All Haircut Appointments Are Now Being Booked On-line via Tablet, Cell phone, Ipad, or Home Computer
 

Sharkey's Cuts for Kids Westport Data: 7/28/2017 - 8/27/2017

 

- Number of on-line appointments booked: 1020

(70% of 1613 haircuts)

 

- Number of on-line appointments booked after salon closing hours: 74%

 

- On-line growth from 2016 vs 2017: up 34%

 

- Number of fewer telephone calls taken & returned at salon: *1785/month(57/day)

 

- Demographics of Westport - 24,432 residents

 

*+/- 15%

 

"Our goal as a company is to get our on-line bookings in the neighborhood of 75% for each of our franchisees by the end of 2017.  We have invested in technology that allows us to meet these goals, and Sharkey's Franchising Company has moved in that direction.  As parents our lives are extremely busy with our children, so why not make it fast and easy for parents to make appointments and at the same time be able to choose their preferred stylists and specific dates and times.  I would like to say we are following the path of Uber.  This is where our industry is going and Sharkey's wants to stay ahead of the curve.  And we are.  We are seeing haircut numbers from our franchisees that have never been achieved before and we attribute this to the technology we are investing in."

 

Scott Sharkey

-CEO

Sharkey's Cuts for Kids   //   1568 Post Rd E. Westport, CT 06880
(203).637.8911   //   SharkeysFranchisingCompany.com

 

Franchises Available

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Sharkey says, "Make sure you look your best before going back to school".

8/24/2017

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BackToSchoolHaircuts.com
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Go Back to School with Sharkey!

8/24/2017

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BackToSchoolHaircuts.com
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CEO, Scott Sharkey says thank you for making this happen for Sharkey's Cuts for Kids! Amazing!!!

8/22/2017

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Guest Speaker Scott Sharkey says, Thank You.  Franchise Times Finance & Growth Conference 2017

8/21/2017

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"​I met Scott Sharkey at the Franchise Times Finance & Growth conference the final day during his presentation.  I was attending the conference as a participant for a non-related industry, and although most of the concepts involved restaurants and food, a few were unrelated to that industry. 
 
I was immediately attracted to Scott’s presentation due to the vision and passion that he shared for his brand.  I also liked the lower overall cost investment and the business model where the franchise fee deliveries the full package on a turn-key basis. 
 
Over the months that followed, I e-mailed and spoke with Scott several times regarding his franchise and business model.  What I took away always was his enthusiasm for his business, but also that it never came from a sense of desperation or pressure to make a sale.  He was very at ease in patiently answering all my questions that related to his concept. 
 
When it was time to invest monies, we negotiated a 3 store deal in a part of Dallas-FTW that made sense, and the rest was history.  Scott came down to spend a day with me as we toured sites for the first location.  Although we have just begun our journey together, I know it is with a reputable brand that is led by someone with character and integrity.  I am glad to be associated with this concept and more importantly Scott Sharkey". 

Sincerely yours,
​Claudia 

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Sharkey's Cuts for Kids Franchising - The growth of our company comes from the validation of our franchisees.

8/20/2017

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Come check us out... 50+ locations and growing fast.  SharkeysFranchisingCompany.com
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PRESS RELEASE - 9 Year PROJECT TALPIOT to Open October 2017!  Sharkey's Donates Vocational Kids Salon to At-Risk Children & Youth Village in Hadera, Israel

8/19/2017

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9 Years of Work Comes to Fruition - Sharkey's Vocational School Opening October 2017!

Project Talpiot

Talpiot is a non-profit organization whose mission is to reduce the number of at-risk children and youth in the region of Hadera and prevent risk situations in the family. Talpiot provides a comprehensive spectrum of community-oriented programs for the at-risk children and youth population and their families living in the region. A new and innovative Sharkey’s Cuts for Kids Therapeutic Kids Salon will be launched in the spring of 2017, in the Talpiot Children Village (1970), situated in Hadera, Israel, and will serve the 200 children and youth at-risk residing there, and their families.

Thanks to the generosity and commitment of Scott Sharkey, this Sharkey’s Cuts for Kids salon will offer a fun-oriented, therapeutic experience for the children and for their families, in line with Talpiot's unique child and family focused model for elimination and prevention of at-risk situations. It will serve as a unique and creative tool to strengthen the bond between at-risk children and their parents, to empower the entire at-risk family and thus contribute to the success of Talpiot's mission to rehabilitate such families and return the children home.

The Sharkey’s Cuts for Kids Therapeutic Kids Salon will offer special activity programs for parents and children; recreational and creative art programs for the children; birthday parties; and joint activities with the community.

The Talpiot Village is situated in a quiet and pleasant residential neighborhood and includes: a full residential facility of ten foster family units (120 children); and an after school day care facility of six groups (90 children); a therapy center; arts and music center; adventurous outdoor park; zoo and animal petting; sports facilities ; and a community synagogue.

The children referred to the Village receive a warm, supportive and protective embrace, which entails a variety of specifically individualized therapies i.e.: individual and group therapy; music, drama, movement, art, animal petting, and photography therapies. They participate in specially structured activities with their parents, which aim to improve communication and empower the relationship between them.

They also enjoy recreational and enrichment activities in the afternoons i.e. scholastic reinforcement and homework assistance; excellence promoting activities; music education, choir, dancing, various sports, art, photography and drama.

The Village is the core project in the organization's regional continuum of services for at-risk children and families. This continuum consists of some 16 different community services in the region, all based on the Talpiot family-focused care model, which impact some 1,000 children and families.

Contact Information:



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Celebrity Moms Making News with Sharkey's Cuts for Kids

8/6/2017

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    Sharkey's Franchising Co. founded in 2001 by Linda and Scott Sharkey

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Westport, CT 06880
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  • Home
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