1099s vs W-2 Employees - How to Set Up Your Business for PREDICTABLE and LEGAL Growth + Stability with Momentum Mastermind Member Tiffany Federico

Published: June 6, 2022, 7 a.m.

b'

On today\\u2019s episode, I spoke with Momentum Mastermind Member Tiffany Federico, of Bright Eyes Beauty Bar.

Prior to the pandemic, Tiffany got pregnant, and found herself in need of hiring an employee to cover for her FAST.\\xa0 She quickly realized that it wouldn\\u2019t be as simple as she thought-there are a lot of legalities and responsibilities that come with building out a team.

Now I\\u2019m not unrealistic - I know that it is COMMON in our industry to hire women as 1099 Independent Contractors - throw 50% commission at them and think you\\u2019re creating a win-win situation for both you, the team member and the business\\u2026 and that is how A LOT of salon owners choose to build out their teams without actually looking at whether or not that pay structure is LEGAL or PROFITABLE.

But OOF - did you know that 99.999999% of the time - the way the salon/contractor relationship is handled in our industry is 100% ILLEGAL and violates FEDERAL EMPLOYMENT LAWS (at least here in the US) - and just cause you don\\u2019t know the laws - doesn\\u2019t mean they don\\u2019t apply to you sis! \\U0001f92d\\U0001f694\\U0001f46e\\u200d\\u2640\\ufe0f\\U0001f517\\u2620\\ufe0f

Never fear - if you have found yourself in this 1099 pickle like Tiffany, she shares how she was able to transition her team members from 1099s to W-2 employees so that her business has PREDICTABLE and LEGAL growth + stability AND EVEN BETTER - She now is PLANNING FOR PROFIT in her business so she won\\u2019t be tied to the treatment room forever because the profit of the business can now start to support Tiffany!!!\\xa0

If you\\u2019re considering building out a team, I\\u2019ve got ONE more free Introductory call happening TODAY at 11 am EDT/ 8 am PDT where\\xa0 I\\u2019ll explain the details of the program and answer your questions to see if this program might be the right next step for you in creating a scalable business model.

REGISTER HERE FOR AN UPCOMING INTRODUCTORY CALL\\xa0

(psst if you\\u2019re ready to apply for the Mastermind NOW - here\\u2019s how www.thelashpreneur.com/mastermindapplication )

\\xa0

Episode Highlights:

[9:24] What a scalable business model looks like where you stop trading YOUR time for Money.\\xa0

[13:10] Why it\\u2019s important to connect with those who are on the same journey as you, or have been where you are now.

[18:47] Why Tiffany believes Momentum Mastermind is 100% worth it for any business owner who desires to work less and make more.

'