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 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.
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.
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
Ready Reference Metrics
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.
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 firstname.lastname@example.org.