Reply To: Help me please.
I agree with Christina – you need to crunch your numbers. I’m a salon owner, for many years we were a commission based salon and paid a commission of 43-50% (depending on a number of staff goals that they had to hit). We had paid vacation/sick leave (FT was 2 weeks/year), contributed to a 401K, and paid for a set amount of classes each year. Fast forward to present: we switched to a rental salon about 7 years ago and not a single staff member now contributes to a retirement plan, none contribute to disability insurance, most think classes are too expensive and will only do the $45 2 hour ones that are at the local Salon Centric, few save for vacations, few have cash savings themselves and this whole Shelter-in-Place thing is killing them. They all “make more money” but don’t have the ability to save any for these types of “benefits”. I think it’s a very difficult thing to pay for all those things yourself, you have to be very disciplined and most people just don’t do it. It’s one of those things that easier said than done. So I’d say look hard at all the numbers and see what makes sense for you. And think about what it is that you want, what’s important for your life – vacation, paid sick days, retirement account?