What We Cover In This Episode:
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The key difference between an independent contractor and an employee to be aware of as a studio owner [6:36]
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Why having contractors in your studio might not be in your best interest and the hidden "pain points" that could arise [8:29]
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How to choose the best practices for classifying staff as either 1099 independent contractors or employees, depending on your state's laws [10:54]
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Where bartering really fits in for a boutique fitness business [15:28]
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Best practice for bartering with a contractor in a legal way [21:34]
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How to pay someone legitimately as a contractor in a common law state [27:00]
Quotes:
“Is bartering even possible? Is it possible to pull off effectively and legally, and get away with it or should we treat bartering like a bad word?” [Nick, 21:03]
“If you ever aspire to be a business that is profitable it is just one of those things, you can't really count yourself as profitable if you're not hitting the things that you need to hit to be a proper business.” [26:31]
“Personal liability coverage is considered a benefit, so if you were going to do that you would have to tell that contractor they are not covered under your insurance. Either they have to operate within your business without insurance or here is a resource to go get a small trainer policy.” [28:16]
LINKS:
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