I am a manager for my family owned, retail, brick and mortar beauty supply store. It’s fairly large and last year net was 800k, this year we are on track for 700k. Gross 2022 was 3.6 million.
Clearly there is something here but I work 60-70 hours a week and have been doing so for the past 5 years with the odd weekend off. My parents are looking to take a step back in the coming year so I will need some help if I will continue to operate the business as well as it has been.
I’ve been here since the beginning and have basically fumbled my way into success and now realize I have become the choke point for the business. I had been hoping to raise an employee to the status of a manager but either through my own hiring incompetence or bad luck that has not panned out. Everything little thing about business I learned through trial and error, my parents were paying employees cash when we first started! They didn’t even know about wage insurance.
I am looking for a right hand man as you will, I think 80-100k compensation is appropriate but I’m not sure how to even evaluate or find potential candidates. Has anyone else been in this situation? Do I hire a consultant? Thanks to anyone with an opinion.