Editor's Note: You Get What You Pay For
You’ve probably been following the minimum wage debate playing out in the fast food and big-box retail sectors. In this issue, we look at how this labor revolution could affect your business and offer strategies to help you prepare for an increase. After all, as the article on page 24 points out, some states have already bumped up their minimum wages, and a national increase is likely not far behind. We’re here to help you through this seemingly inevitable transition. With the right planning and the right frame of mind, you’ll come out on the other side of any wage bump with the assurance that your increased investment in your employees will be worthwhile.
Whenever we discuss a potential minimum wage increase on our social-media pages, readers typically express concern that such changes may force them out of business. While there’s no denying that finding more salary money in the budget can be challenging, it shouldn’t be impossible. We’re not saying this to be dismissive or insensitive to the struggles of the small-business owners who faithfully read this magazine. We’re saying it because we see this debate as an opportunity for readers to reevaluate and make sure they’re putting their money where it will really pay off.
Brick-and-mortar dance storeowners hang their hats on the idea that customers should be willing to visit their stores, rather than shop online, because of the expertise and above-and-beyond service only found in stores. Unless you run your store single-handedly, you are not the only one providing those services. You likely rely on a staff of faithful and passionate employees with years of dance-world experience. You’ve taken the time to train them in the art of fitting, taught them exactly how to treat your clientele and entrusted them with your livelihood. These people are valuable and cannot be easily replaced. Whether it’s mandated or not, we’re willing to bet that in the long run you’ll be pleased with an increased investment in the living, breathing assets who keep your business thriving. As the old saying goes, you get what you pay for.