I saw a low profit margin in February. I had to pay an instructor backpay for an accounting error in Pike13. You bet I’m going to make sure that all instructors are assigned a pay rate for all programs taught going forward!
I also had to purchase new equipment and branded merchandise.
Also, I hired a program manager for my F4B program. While I think it was smart of me outsource the program management part, financially it was not smart. To correct this, I’m considering outsourcing my admin positions to the Philippines, where I can get good admin help at a lower hourly rate
As a goal, I’d like to try to keep my operating expenses under $4,000 a month, which might be hard to do as I continue to expand my team and reduce the number of hours I teach, but I think I may be able to reduce costs in other areas. For example, my rent cost. I pay about $150 a month for a storage unit and I pay $160 for a share office space, where I host our orientation for BB. Cutting those would save me about $310 a month.
Love + Aloha,