Deep Dive: Gigi Maguire on the finances of an exotic dancer

Gigi Maguire was a renowned exotic dancer turned entrepreneur.
In this deep dive, Gigi talks about managing the finances in the exotic dancing industry.

Host IG:@itstanyatime

Guest IG: @gigimaguire

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:00):
Hey, Money Movers, Welcome back to Money Moves, the daily
podcast determined to give you the keys to the Kingdom
of financial stability, wealth and abundance. Hey Money Movers, Welcome
back to the Money Moves podcast powered by Greenwood. Earlier

(00:23):
this week, we were joined by the talented g G McGuire,
who filled us in on her story and journey in
Atlanta through the dance and entertainment Interesting. But today she's
going to join us for a quick deep dive into
the world of entrepreneurship and how she's managed to turn
dancing and sexuality into a brand and business that has
lasted for decades. Just a reminder, today's deep dive is

(00:44):
brought to you by our partners at MasterCard, bridging the
wealth Gap together with Greenwood Money Moves Podcast. Let's welcome
back g G McGuire, Hey, g G he Hey, Okay,
so G I'm gonna ask a funny questions considering this
podcast is sponsored by MasterCard. Do y'all take credit cards? Now? Girl?
Credit cards? Yes, ma'am. Let me tell you something. If

(01:06):
I was dancing right now, I would have a square
reader in my bag. I would have my phone on
me with them A PayPal, cash app Apple pay Yes,
run me my coin. No matter how you got it,
where you gotta get it from, I'm gonna need all that.
Thank you. Have you ever seen someone with like a
QR code tattooed on their ass to like cash at me,
be smirt. Maybe on the outfit, Yeah, like one of those,

(01:30):
like on an outfit, maybe your outfit when you open
up your strip club. You can do that one. Okay, Okay,
So g I love how you like to keep it
real And these are questions that I've always wondered myself.
So We're just gonna do this keep it real segment.
You always hear people talking about how they're securing the
bag and making big, big money moves. Can you again
tell us, on average, how much money were you making

(01:52):
a night? And is there one night in particular where
you feel like you knocked it out of the park
and you will always remember that night. I would be
happy with anything over a thousand dollars honestly, And um,
you know, a two or three thousand dollar night was always,
I guess, you know, a good night. But I worked

(02:15):
so much that you know I would rather have been
at work than anything else because I will always feel
like if I wasn't at work, then I was missing
out on money that I could possibly um I will
say that the most memorable night that I had was
my last dance. I left Magic City with almost thirty
thousand dollars and I was on that stage for about

(02:38):
twenty eight minutes, almost a thousand dollars a minute. When
they talk about the last dance, that's pretty significant. So
explain to people what you mean by this was your
last dance sort of. So it was literally my retirement party,
UM I had. I was such a powerhouse in that
club that I was not just the average entertainer. I

(02:58):
could not just quit and walk away. The club itself
wouldn't allow it. They really were like, you you're leaving, Okay,
let's do something and you know, let's have a going
away party of farewell like whatever you however you want
to do it, you have to leave one last moment
on the stage for your friends, your family, your fallows.
Like you can't just walk away. So UM I decided

(03:19):
to have this very um this last performance and I
named it Last Dance because flash Dance was the theme
behind the party and for my very like final moment,
I did the pull the string, when the water and
all that happens. But I used money in confetti, like
aridescent confetti and and money fill out of the sky,
so it gave the illusion that it was water. Um

(03:42):
that has to be my most have to be my
most memorable moment. I feel like I left, like left
it all on the stage that night. So yeah, that's
where we get Last Dance from. So it was my
final performance. My theme was Flash Dance. I literally recreated
the Flash Dance DVD cover as my UM for my

(04:03):
promo for my flyers and stuff, and so yeah, I
just ran with that. I crossed out Flash and put
last over top of it. And at that moment, I
just was coming up with the theme for my party
and it all went, you know, coincide with the what
was happening. I did not think or intend or even
dream of Last Dance becoming a thing. Since then, countless

(04:25):
entertainers have had a last dance. And again that was
the whole thing with Peevali, Mrs uh Ms. Mercedes was
trying to have her last dance and that was like
a big part of that first season of the show. Wow,
I love to say that Last Dance has become a
thing and I'm the creator trademark or something. So if

(04:47):
you look back across your career, do you have any
quick dudes and don't tips for girls starting in the industry,
do save your money, don't spend it all. Don't think
that just because you made a thousand dollars today, you
can go spend eight hundred dollars tomorrow and you're gonna
make it all over again the next day, and you're
going to continue that cycle because eventually you're gonna come

(05:10):
into a moment where you wish you would have saved
most of that money, if that could be. My only
regret is that look at look at this, Look at
all my strip of money behind You'll see where you went.
I'm joking. I did save, but I honestly did not
save as much as I could have. And um the
one thing that um I let my my young girls,

(05:31):
my young women in this industry you know all the
time is to save, save, save, save and invest, you know,
make that money work for you. So g at the
end of the night, you've got a big literally bag
of cash that you basically throw over your shoulder and
go home for what do you do with that money?
Do you put it under your pillow, do you hide
it in the fridge, do you put it in the bank,

(05:53):
and do you pay taxes on that? So? Um, I
definitely put my money in the bank. Um if it
was like that my last dance, and I definitely didn't
show up at the bank with thirty thousand almos and ones. However, Um,
every couple of days I did make bank trips. Um.
I would never deposit more than nine thousand at a time,

(06:15):
so I didn't have to, you know, do all of
that reporting to the I R S. And yes, if
you are smart, you do pay texas. Um. You might not,
you know, be all the way honestly what you make
and but you make it work for you. Um. I'm
a mother, so I have a child that was two
years old when I started dancing. Um, I always filed

(06:36):
taxes and claimed my child and you know that whole thing.
So um A lot. That's one thing a lot of
dancers don't know is that you can actually file taxes
and if you have a child or children, then you
work those numbers the right way and you get a
return every year. UM. So that's a tip for you
young women out there who are in this industry. UM
who doesn't don't aren't aware that you can file. UM,

(06:58):
you definitely need to file, even if you don't have children.
You should file because you always want to keep a
good report with the I R S and you want
to UM always look good on paper. When when you're
ready to buy a house, you know you have to
have at least two years of tax returns that say
you made a certain amount of money. If you aren't
following your taxes and claiming your money, then when you're
ready to buy a house, you're gonna have to wait
two years because you're gonna have to wait for those

(07:19):
two years of the text returns in order for you
to look right on paper. So if you just write,
I think that might have been the best gem too,
because people don't realize what it takes. Like you've got
this cash, now you have income, but if you don't
have a tax history, it becomes even harder to buy
a house. And what are you doing all this for?
What are we all out here hustling for if you
can't buy a house and build assets as well? M hm,

(07:40):
that was great advice or in our deep dive, inquiring
minds want to know if some person comes into the
club and gives you know, a thousand bucks and ask
you the strip club manager to change it into one.
How much money is he really getting back? So that
is a very good question, and it depends on the club.
Clubs have their own rules when it comes to exchanging one.

(08:00):
So most clubs will give you your money all the
way down to the dollar. Um. If you give them
a thousand dollars in cash, they will give you a
thousand dollars back in cash. Some clubs charge ten percent,
so it'll be ten dollars off, it'll be ninety dollars
in every bundle instead of without a hundred and every bundle.

(08:20):
And then you also have most clubs and this is
um even where I've worked in Philadelphia when I had
that job at Vanity UM, if you use a credit card,
then they charge as well, so you might not get
all of your cash. If you use a card, you
might not get all of your cash if the club
has that rule implemented. But I can tell you if

(08:42):
you go to Magic City and you give them a
thousand ones, they're gonna give you a thousand dollars in cash.
You give them a thousand dollars in cash. They're gonna
give you a thousand dollars in one but no, I
don't know. It's it's up to the club. Okay, Well,
I love, I don't think that's fair. I think I
understand the credit card processing they have to, hey, the
little fee, but ten percent just to change my card.

(09:02):
I understand that them taking a fee for that, But
I feel like, if it's a strip club and you
want the people to get ones and throw ones, I
don't think that they should be charged for that. But
I mean, I don't know if I'm biased because I
was an entertainer or because I spend money in a
strip club, but I just don't think that it's fair
that if I'm exchanging cash for cash, that I am
losing cash in that process. That's kind of how I

(09:24):
feel about extra guacamole on my burrito. What am I
here for? Why do I gotta pay more? Like? Seriously,
but okay, no back for this, g G, thank you
so much for being here today. This was so enlightening.
This was so much fun. Please tell everybody where they
can find you on social media, where they can find
your podcast and where they can find Beyond the Pole,

(09:45):
as well as your social media handles so that we
can look out for that book because I'm on it.
I think I can't wait to hear all your stories.
Thank you, thank you, thank you. So I am at
G G McGuire. That's G I G I M A
g U I E. I am on Instagram and Twitter.
I do not have a Facebook. UM. I am also

(10:07):
UM on we TV Beyond the Pole. You can find
us on on demand, and we're also on uh watch.
You know, we're on on demand, and we're also on
All Black right, and we're also on Amazon Prime. And
then um, angela yeas Lip Service podcast you can find

(10:28):
that on Angela Ye's YouTube channel. UM. And the e book.
The e book is coming. Um. Yeah, I was just
about to give away something that I probably shouldn't have,
so I paused a second. Um, that would be the title.
So I don't even want to do that yet because

(10:49):
you know, don't worry. We will definitely have you back
again and we'll get the real title and the deeds
on when the book is launching, and all the tips
and tricks that everybody needs to know, from shaving to
how to make money to all those things. Thank you
so much, G G. And we will see you back again.
Make sure you tune into Money Moves Monday through Friday

(11:10):
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(11:32):
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