Episode 310: Small Core Staff vs. Large Staff — Which Is Right for Your Studio?
Description
What We Cover In This Episode:
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How to assess your financials by analyzing what percentage of your monthly revenue is dedicated to payroll [3:16 ]
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What clients really value and prefer in the studio in terms of staffing [4:07 ]
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What happens when you define your ideal allocation for teaching, managing staff, and business growth [6:08 ]
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How to approach growth and what you need to be evaluation and questioning as an owner [14:36 ]
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The main reasons why owners prefer small core staff over a larger one and the things to watch out for with this sort of model [17:32 ]
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Why owners choose larger staffs and the risks that accompany this type of set up in the studio [19:05 ]
Quotes:
“If you do not have a path for people to grow forward, then whenever teaching becomes a burden or a studio is willing to pay more, they are probably just going to dip out.” [Nick, 6:38 ]
“[With[ the smaller staff you're going to want those W-2s. If you have them as independent contractors but you only have four or five instructors, that sounds scary as hell to me.” [Megan, 8:24 ]
“You can have the same studio, the same mission, vision, values, same class formats, everything, if you are in a different part of town, it is just going to be different people, it's going to be a different culture.” [Nick, 17:05 ]
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