283 Should the Salon Owner Earn a Wage AND Get a Profit From the Business?

In this episode of the Grow My Salon Business Podcast, I address a common question from salon owners about the distinction between business profit and the owner's wage.We’ll cover why salon owners should receive both a wage and a return on their investment.  Drawing an analogy with other investments, I explain the importance of separating these two income streams and discuss various ways that salon profits should be allocated within the business.    IN THIS EPISODE: [01:15] Listener question: Why are the Salon profit and owner's wages two separate things?[02:00] Investment and profit explained[03:09] Analogy of the stock market vs salon business[05:56] Discussing investor vs employee earnings[06:32] Explaining the salon owner's investment and profit[08:50] The different uses of business profit[10:46] Conclusion and course reminder  Want MORE to help you GROW? 📚 Check out our Bestselling GROW Books https://growmysalonbusiness.com/books/ 🆘Management overwhelm!? Download our free checklist! This checklist will help you get clarity on where you're at https://growmysalonbusiness.com/management-checklist/  RATINGS + REVIEWS 🙏Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!  They do matter in the rankings of the show and help other people find my podcast.👉 Here's what you do:- On your phone,Click here  (Read steps below first)- Scroll down to 'Ratings & Reviews'- Tap on the empty purple stars and rate 5 stars- Click on ‘Write a Review’ I love to hear what’s been helpful and what you love about the podcast! Thank you for your support! 🙏Until next time! Antony RESOURCES MENTIONED IN THIS EPISODE: The Financially Savvy Salon Owner - Free Masterclass - Save your seat!The online Money Course - Enrolment is open! 👉 FOLLOW US!Instagram | Facebook | Website