How Much Can You Pay Employees as a Pet Sitting Business? | Labor Costs FULLY Explained!
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- เผยแพร่เมื่อ 18 พ.ค. 2024
- Figuring out how much you can pay your employees and maintain healthy margins can be one of the most confusing and overwhelming parts of the entire hiring process, so I am breaking down the math for you in this video!
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Other videos to watch:
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How to Set Your Dog Walking & Pet Sitting Prices: • How Much to Charge for...
How to Get Pet Sitting and Dog Walking Clients: • How to Get Pet Sitting...
How to WOW Your Pet Sitting Clients: • How to WOW Your Pet Si...
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Great info. as always. Yes I will be enrolling in the hiring course.
Yay!! Thank you thank you!
I will be signing up for the course!
Awesome! Thank you so much!
Even on top of taking the hiring course, this is very helpful!
Awesome! Thank you!! Glad it was helpful!
Math is not my thing but you made this easier to understand! Thank you!!!
So glad it was helpful for you!!
You’re the best Doug. Planning on enrolling in the next hiring course!
Thank you so much, Taylor! Enrollment is open now!
Such a huge help🤘🐾❤️🐾🤘
I’m so glad! Thank you!
Very helpful and understandable, thank you!
Thank you!!
Useful
Thanks!
It was it's Dug, all American but it a help in the UK l know where to start now sx
So happy to see this topic covered!
Doug, you helped my wife and I build the foundation to our business in a way we could never express our gratitude for. We are currently up and running, finding great clients with nice pets who compensate us well. We couldn't be more happy with your wisdom, personal coaching, all of the guidance you've served us and helping us begin our business in a way we can scale and grow. We have been talking about how much we will pay our employees when we finally hire folks to help us. Thank you so much for delivering this on your free platform!!
Thank you so so much!! That truly means the world to me ❤️🐾 I’m so glad to hear your business is doing great and you’re thinking about hiring! Let me know how I can be of more help as you continue to grow! 🤩
@@DougtheDogGuy thanks Doug!
Hello there and thank you for the information. They are very valuable.
A question
How do you pay for house sitting ?
definitely going to be joining. opened in 2019 and after pandemic you would be so helpful 😊
Awesome!! Thank you!!
Doug -
I like how you explain it, but it’s hard to see the board! Is there a way you can do this video on a video screen? Would be much easier to see/ understand! Thanks
Hi! I have this all on the screen instead of the whiteboard in my hiring course! dougthedogguy.co/hiringcourse/
I do love your informative, caring, articulate, experienced way of explaining stuff and if I end up deciding to hire any employees will consider your course. This math did lose me but gets me started towards understanding it. I'm confused how 1.5 visits can be done in one hr if they are 30-min visits.
I'd wanna pay employees local fair living wage which is arguably $20/hr in my area. Yet also keep prices low enough for clients - and at least fair living wage for myself. I don't know that math or if all that is possible? For a 30-min visit, guess that's $10 for them + $10 for me so needs to cost the client $20 - but more than that cause of taxes??
Thank you so much!! We assumed 1.5 visits per hour because in this example because we were offering 30 minute visits with 15 minutes of drive time between each visit. You need to calculate this with your own visit length and drive time. And if you are charging $20 per visit, that would not be $10 for you and $10 for the employee. There are a lot of things to account for, and I will say that “paying a living wage” and “keeping prices low” do not go together. If you want to keep prices low, don’t hire. If you want to pay a living wage, you’re likely going to need to increase prices significantly. Give the video another watch through for all of the math on this :) It can be a little overwhelming at first, but you got this!!
@@DougtheDogGuyThank you! After reading your comment and doing the math a little again, that makes more sense!🙂
I increased my prices.
That’s great! (And essential for most of us when hiring)
I plan to sign up for your course! Is it all at our own speed or is there classes with specific times we need to attend?
Yay! Thank you! It is all pre-recorded so you can go at your own pace and re-watch as needed. I will also be going live periodically in the private group to answer questions and provide guidance. Live recordings will be uploaded to the course as bonus lessons so no one misses anything 😊🐾
Great video. Isn’t there a futa credit which brings it down to close to .6%?
Thank you! You’re right, the standard FUTA is 6% of the first $7,000 of wages, but then you can get a credit of 5.4%. I didn’t get into all those details in this video. Just trying to show how the math works here - more details in the course 😎
www.irs.gov/businesses/small-businesses-self-employed/futa-credit-reduction
Based off paying per visit verses hourly it looks like it would be better here to pay per visit verses hourly. If the visits are $25 you are not making much profit off the hourly rate. Am I correct in assuming that?
Hi! No, in this example your all-in labor cost is a maximum of 55% of revenue, your operating expenses are 25%, and your profit margin is 20% for both the hourly pay and the per visit pay.
I was planning to email you on this very topic
To all reading this: I purchased Doug’s hiring course. Worth EVERY PENNY!!!
I don’t quite get where you came up with the $25 to figure out the 45% and 55%. What IS the $25 and how did you arrive at that figure?And where do you come up with the gross labor costs?
Thank you!! $25 is how much we are charging for the 30 minute visit in this example. You would need to use your own service price when you do your own math
@@DougtheDogGuy ohhhhh. Gotcha! Thanks 👍🏻