206 Salon Business Accounting with April McDaniel from Kopsa Otte скачать в хорошем качестве

206 Salon Business Accounting with April McDaniel from Kopsa Otte

The fact that you are reading this means that you are probably working in the hairdressing industry, and in all likelihood, you are also a business owner or an aspiring business owner. As a business owner, the financial health of your business is your biggest responsibility, and one of the most important business relationships you will have is the relationship with your accountant. My guest on today's podcast is April McDaniel from accountancy firm Kopsa Otte based in the United States. April’s accounting niche is the hairdressing sector, and the information she shares today will be invaluable in helping you get on top of your finances! Although about half of my regular listeners are based in the US, we regularly get listeners now in more than 80 countries every week, so today, we are very consciously going to cover all things relating to money and accountancy in a way that’s relevant no matter where in the world you are based. In today’s podcast, we will discuss: ➡️ What salon owners should look for when finding an accountant. ➡️ How involved salon owners should be in their business accounts. ➡️ The single biggest mistake salon owners make when it comes to financial management. Make sure to hit the like button, subscribe, and ring the bell for future content. 🔔 📖 CHAPTERS You can jump to these key moments: [00:00] Intro [02:45] The career journey that led April to become a specialist in accounting for the hair and beauty sector. [06:49] Advice for finding the right accountant for your salon business. [09:45] The importance of understanding the accounting side of your business. [14:08] Bookkeeping elements that salon owners/managers should be handling themselves. [17:46] The value of having a salon industry specialist set up a chart of accounts for your business. [19:07] Types of software that salon owners will benefit from incorporating into their businesses. [23:47] Some of the biggest misunderstandings that salon owners have with regard to their finances. [25:34] How Kopsa Otte’s unlimited access model works. [32:16] Advice for ensuring your business is well-prepared for an economic downturn. [37:56] Profit margin targets that Kopsa Otta sets for its clients. [39:25] Reasons for the upward trend in salon profitability in recent years. [44:17] The most profitable salon business model. [46:15] How the retail side of a salon business impacts its profitability (and the simple secret to successfully selling haircare products). [51:16] Factors to consider when deciding whether to lease or buy equipment for your salon. [54:17] A mistake to avoid as a new salon owner! 🌟 LINKS & RESOURCES For full show notes, links, and resources mentioned visit: https://growmysalonbusiness.com/podca... 📣 SOCIALS Instagram:   / growmysalonbusiness   Facebook:   / growmysalonbusiness   TikTok:   / growmysalonbusiness   YouTube:    / growmysalonbusiness   🎧 AUDIO PODCAST You can also listen to the podcast on our website or search Grow My Salon Business on any of your favourite podcast apps. Website - https://growmysalonbusiness.com/podcast/ Apple Podcasts - https://podcasts.apple.com/gb/podcast... Spotify - https://open.spotify.com/show/7p8kVDh... Amazon Music/Audible - https://music.amazon.co.uk/podcasts/4...