Roughly what portion of the $400k goes to payroll?
What do you pay (roughly) hourly per role? (Attendant, driver, booking, customer service, etc)
What is the owner salary?
How much time do you spend on the business each week and what is your biggest task?
Do you respond to customer inquiries or have an assistant do it?
Context: I own a wedding venue in a luxury market and we are grossing $750k per year. I get lots of leads direct to my website and provide mostly all amenities in my venue rental fee (Photo Booth included). After payroll, profit margins aren’t great, so I’ve been thinking of branching off of my business into event rentals so that I can actually pay myself a decent enough salary to leave my remote full-time job. (Obviously not all leads book us, but they are all still high income qualified leads that are having a wedding somewhere in the area and will be needing rentals)
Would love more clarity around payroll.
Context: I own a wedding venue in a luxury market and we are grossing $750k per year. I get lots of leads direct to my website and provide mostly all amenities in my venue rental fee (Photo Booth included). After payroll, profit margins aren’t great, so I’ve been thinking of branching off of my business into event rentals so that I can actually pay myself a decent enough salary to leave my remote full-time job. (Obviously not all leads book us, but they are all still high income qualified leads that are having a wedding somewhere in the area and will be needing rentals)