Finance

Each of these tools can be very beneficial for new or established Franchisees. We encourage you to contact your Financial Analyst when working with these tools, as only brief descriptions are listed below. Working with your Financial Analyst will add context and clarity to your process.

 

Break-Even Template

Break-even is the level of sales needed to completely cover all expenses incurred in the store. The simple calculation of breakeven is Fixed Costs divided by Gross Profit Percentage. This tool is pre-populated with expense estimates, but those estimates should be adjusted as you learn more about your actual expenses.

 

Budgeting Template

The budgeting template will help you budget and set monthly benchmarks for your first 3 years of operation. It also assists with the estimation of cash requirements for working capital needed until your store breaks even.

 

Team-Based Bonus

This bonus plan can be beneficial to you and your staff in building commitment to the success of the store, a sense of team, staff holding one another accountable, and added incentive for all employees. The bonus is only paid out when a record sales level is reached, so it can be useful for new or mature stores (once a goal is reached, itis wiped out, and the following sales level is the next goal). You should adjust the sales goals ot payoff percentageaccording to your situation.

 

Payroll Estimate Tool

This tool is very beneficial for fine tuning your working capital expectations and establishing your payroll projections. Fill in the highlighted cells, and the rest of the spreadsheet will pre-populate and help you establish a sound payroll estimate.

 

 

Pay Plan Template

This consists of an hourly Base Wage, plus a Commission Percentage paid on all service sales above the Base Point of Production. All of the items highlighted in yellow can be adjusted by you, and base wage, commission percentage, and base point of production all vary based on market and franchisee preference. The Payroll Percentage columns can be hidden when sharing the pay plan with your staff; they are just there for your reference, to understand how changing variables will affect the payroll percentage. Cells I12 and J12 can be used if paying premiums for managers, shift managers, or more experienced or qualified stylists.

Ready Reference Metrics

This tool was intiated to provide franchisees with a one pagesummary of important metricsto follow on SuperSalon. There is abundant information on SuperSalon, but due to an overwhelming number of reports available, this point to especially important areas of focus. These 12 metrics provide useful information on a wide variety of aspects of your business that are important to monitor. The sheet was set up to show you in a simple way where you can access these metrics, how they are calculated, and what they can tell you about your business. 

Chart of Accounts

This Chart of Accounts includes all revenue and expense line items that you should need when establishing the Profit & Loss Statement for each store. This ledger can be uploaded into QuickBooks and other accounting software so you do not need to set it up from scratch. 

 

P & L Template

This is the Profit & loss Template used at regis when compiling P&L Statements. it is set up in such a manner that it interacts well with the break-even template and other tools, including the Chart of Accounts. It also includes explanations of each line item.

 

Preferred Vendors

Credit Card Processing: Elavon-US Bank

Financing: Fran Fund & Stearns Bank

Insurance: Program Insurance Group (Contact: Andrea Denton)

Payroll & Accounting: KDV

 

ADP

Regis Corp is pleased to add a new supplier of payroll and HR solutions to support Franchisees in managing their business. While there are many providers that contact us on a regular basis regarding these services, providing a firm that has a national footprint only makes sense for our brands of nearly 10,000 stores in the United States. ADP is offering competitive pricing in the offerings below and Franchisees choosing this option will be supported by ADP's dedicated Franchise Support Group which understands what it takes to support salon owners.

These services including HR support, are a key componentto retaining quality Stylists and Managers. If you are currently using generic ADP services, this franchise focused program may be able to save you money versus what you are paying today, or it may provide you with a higher quality of service within the ADP system. If you are just opening your location and are interested in payroll and or HR services. please contact Jeremy Dyer at 866-506-9447 direct or jeremy.dyer@adp.com.

ADP Approved Supplier Announcement

ADP Dedicated Franchise Support

ADP Payroll & HR Support

ADP Payroll Support Package