Gratuities cause hassles for owners. You have to pay taxes and credit card processing fees on tips and you have to distribute them to the team. Strategies' Neil Ducoff shows you what a no-tipping salon looks like, and what you need to do to get there.
When you earn net profit, you know you're winning the game, and your Profit and Loss statement is your scorecard. Strategies' Neil Ducoff walks you through analyzing your net profit.
The way to win at the salon ownership game is by clearly managing the money. Strategies' Neil Ducoff shares six guidelines to help you make more money in your salon, spa or barbershop.
Before Qnity President Erin Kuhn takes the stage at Serious Business 2022, she discusses the need for financial literacy in the professional beauty industry and how owners can help their team members gain knowledge make better decisions about their careers.
Kim Kimble, known for her on-set styling skills, TV personality and star-studded clientele, has partnered with American Express to help salon owners recover and rebuild from pandemic-related challenges.
The perfect storm to boost salon/spa service pricing is upon us, says Strategies Neil Ducoff--and not a dollar or two, but a significant price increase. Find out why.
As salons across the country continue to pick up their metaphorical pieces and re-prioritize with new perspective, we spent time with Sam Paik, chief financial officer for LBP’s Prestige Hair Group which includes salon brands like R+Co, IGK, InCommon Beauty and V76, for his unique insights into how salons can save, scale and strategize.
On Friday, February 12, 2021, the IRS will begin accepting and processing 2020 tax year returns. Get a jump on things with these tips for making the process easier and more efficient.
Don’t wait until the next crisis to get prepared. Despite the sea of unknowns, start building financial success now with these three tips from Qnity’s Tom Kuhn.
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