Transparency is KEY
Here you will find your pay structure for growth. Whether you’re trying to start your own Making It Awesome business, you want a coaching position, happy slaying hair, or relaxing your guests’ shoulders… we are good with it. If your path is opening a MIA space, see the page dedicated to your path and when you’re ready to talk about it, schedule a 1-on-1 meeting with Jordan.
What we’re not good with is a lack of clarity on how to get to where you want to get to! We think these pages are pretty awesome resources, but if you still have questions, schedule a meeting with your coach or a meeting with Jordan. In the end, your growth is entirely up to you and where you want to go! We’ve got you, let’s SOAR!
How to get paid
These numbers are based on working 32 hours a week for a year, leaving time for life, family, and fun! At need. we strive to pay a healthy, honest, and high rate to all of our people. We know you’re not a salon owner, so you wouldn’t know why things are a certain way, so we want to be as open and honest as we can with you. Our goal is for you to never feel upset or confused when it comes to your lively hood! Your coaches can teach you how to make more money if that’s what you’re looking for or teach you how to create a healthier work/life balance if that’s what you need. Please do not hesitate to ask any one of your coaching team members ANY question you may run into!
You will be able to ask for a financial review every 3-months if your numbers have drastically changed. If they haven’t changed much, talk to your coach and come up with a game plan so at your 6-month mark you’re ready for a financial discussion. We don’t believe in raises once a year, we believe in them AS OFTEN AS POSSIBLE! For example: If you’re consistently bringing in $4,000 a month in revenue to the salon, your yearly estimate is $48,000 in service revenue. If you’re consistently bringing in $8,000 a month your yearly estimate is $96,000 in service revenue, meaning you’re making approximately $60,000/year plus the value of your benefits. A provider is required to bring in 3x their pay in order for a salon to stay standing (See our profit and loss statement for salon expenses).
Commission vs. Hourly
We pay an hourly rate based on your commission. We understand that commission is the most typical way of getting paid in this industry but we don’t like the inconsistency it gives to providers. When you go to purchase your dream house, a car, or get a credit card having a consistent paycheck will offer you the ability to do the things you need and want to do. With commission your paycheck varies from week to week and often during the slow seasons you only get paid minimum wage. When you’re paid hourly it’s just like you’re working with commission, you just don’t have weeks where you don’t get paid if you’re not busy! Your hourly will be looked at every three months so as you get busier and build your schedule your pay will reflect the additional revenue provided!
How do I know what I have to do in order to make what I want?
Great question! It’s an easy formula that you can do on your own or you and your coach can sit down and figure it out together!
“I want to make $56,000 a year, how can I do that?” Awesome!! Way to set a goal for yourself! Alright, you will need to bring approximately $100,000 in service revenue into the salon. If you’re working 32 hours a week for 51 weeks out of the year, the amount of hours you have to sell to guests is 1632 hours. Take $100k and divide it by 1632 hours = $61.27/hour. You need to bring in $61.27 an hour. So if you do a service that takes you 2 hours, your minimum charge for the guest needs to be $122.54.
Goal Pay ÷ Hours Scheduled for Year = What you need to bring in each hour at 100% booked
Assuming you’re not 100% booked, you’re 60% booked we need to change the numbers up a bit. Say you’re scheduled 1632 hours for the year at 60% booked (1632 hours x .60). at 60% booked you’re with guests creating revenue for 979 hours. Take your goal pay $56,000 and divide the required service revenue - $100k by 979 hours. You will need to focus on bringing $102.15/hour in. How do you do that? UPGRADE your guest! Take your $60 haircut guest and give them a $20 upgrade, their service just went to $80. Upgrade their service to a package and offer them a manicure. Your co-worker is now filling in their schedule and your “profit share” just bumped your hourly up again! Team work makes the dream work!
What is my profit share?
Profit sharing is simply helping your team do better, so the salon does better, and then YOU do better!
The profit share will be split amongst each sub-team based on the hours worked. The payout will be given as a bonus once goal is hit. Bonuses may be given as cash, health benefits, education benefits, vacation days, tool upgrades, etc...
What do all these numbers mean?
We understand that things can get confusing, but that’s why we are here! We want you to have a crystal clear idea of how to make what you want, because in the end, you decide where you want to be! We’re just here to support your journey and help our team grow. In order for the profit share to kick in the salon would need to see a $40,000 monthly revenue. Once we hit $40,000 the salon shows a small profit, after all estimated expenses the estimated profit is approximately $2,800 for the month, 7%.
How do I get a cut of the profit?
Say you're a Pillar and this is your team. To keep things simple we are going to say everyone is working the exact same 32 hours a week. Once the goal was hit the bonus pot was filled with commission from $60,000/month in service revenue.
2 Foundations - $300 = $150/pp
3 Pillars and Advocates - $600 = $200/pp
2 Artistic Designers - $1,200 = $600/pp
2 Coaches and Pilots - $2,000 = $1000/pp
If the two artistic designers worked different hours, AD 1 worked 137 hours this month and AD 2 worked 172 hours this month their take would be different. For example: AD 1 would receive $531.56 and AD 2 would receive $667.36