08/30/2024
Picture this: An inbox full of leads, clients happily making selections and waiting on their furniture to arrive, and other clients living in their newly renovated homes. You are paying yourself.
When you get to this place, the natural question is, “Can I afford to hire a new team member?”
When our clients ask this, we start by asking them a few key questions:
• Do you want to hire an employee or a contractor?
• Do you currently have payroll in your business, or do we need to set this up?
• What does your benefits package look like?
• Will this new hire be in an administrative or a billable role?
• What’s the average salary for this position in your area?
Many interior design businesses operate successfully with payroll percentages between 15% and 30% of gross revenue, while some high-labor, service-based businesses are profitable with payroll costs up to 50% of gross revenue.
Before you hire a new employee, speak with an accountant who deeply understands the interior design industry. Book a discovery call today or reach out to your accountant if you are already working with us.
Book a Call: https://scheduler.zoom.us/ashley-mobley/discovery-call
Read the full blog post: https://www.businessbythebook.money/bbtb-blog/can-your-interior-design-firm-afford-to-hire-an-employee-find-out