Ok here we go.
One of my game goals was to launch a business idea I've had since the 12th grade. So this is it. Bear with me this is probably the most unprofessional business related jargon you will ever read...also happy to pop that cherry for you.
The business is private lessons for "X-sport." My question is on how to pay my employees and do right by them while maximizing my profit.
My employees are high school aged (14-18 yrs) kids whom I coach on my club team.
3 employees.
Heres how the numbers work out with the employee pay/session and their pay/mo:
But I also see that they are getting paid an ass load considering the little work.
I have no idea what is fair and what is business savvy so some insight on how to go about this is appreciated.
If you need more information ask. Im pretty much winging it right now trying to make this work.
The lessons can be done at free neighborhood parks. All my employees have residential passes to the facilities they would need. If they needed to rent space I most costs would be @$10-15/hour. Like I said I'm winging it pretty much. Havent gotten to costs yet no do I know of the order of operations when setting up a business plan. I like making money so I started with that lol
Currently reading (by that I mean just started) "Business Model Generation" written by Alexander Osterwalder & Yves Pigneur
One of my game goals was to launch a business idea I've had since the 12th grade. So this is it. Bear with me this is probably the most unprofessional business related jargon you will ever read...also happy to pop that cherry for you.
The business is private lessons for "X-sport." My question is on how to pay my employees and do right by them while maximizing my profit.
My employees are high school aged (14-18 yrs) kids whom I coach on my club team.
3 employees.
- Employees work 4 days a week for 2.5 hours each day.
- There are 5 sessions in a work day. Each session is 30 minutes long.
- Each session costs 25$
- $125/day=$500/week
- $500 x 4.2 weeks=$2,100/mo
- $2100 x 3 employees=$6300/mo
Heres how the numbers work out with the employee pay/session and their pay/mo:
- 12/session=1008/mo
- 11/session=924/mo
- 10/session=840/mo
- 9/session=756/mo
- 8/session=672/mo
- 12/sesh=3,276/mo
- 11/sesh=3,528/mo
- 10/sesh=3,780/mo
- 9/sesh=4,032/mo
- 8/sesh=4,284/mo
But I also see that they are getting paid an ass load considering the little work.
I have no idea what is fair and what is business savvy so some insight on how to go about this is appreciated.
If you need more information ask. Im pretty much winging it right now trying to make this work.
The lessons can be done at free neighborhood parks. All my employees have residential passes to the facilities they would need. If they needed to rent space I most costs would be @$10-15/hour. Like I said I'm winging it pretty much. Havent gotten to costs yet no do I know of the order of operations when setting up a business plan. I like making money so I started with that lol
Currently reading (by that I mean just started) "Business Model Generation" written by Alexander Osterwalder & Yves Pigneur
Attraction and passion are non-negotiable