From Thomas J. Stanley:
A recent news headline read: "Senate even losing money on haircuts; Critics say $400K deficit for hair salon symbolic as Congress seeks military, domestic program cuts."
Yes, even in these times when families are struggling financially, our government in Washington is providing subsidized haircuts for members of the U.S. Senate.
Last year, the Senate Hair Care Barbershop (SHCB)/Salon ran a $401,000 deficit providing $20 cuts to senators, staff...
Just imagine it: members of Congress, many of whom want to dictate how American business owners operate their enterprises, can't even run a profit-making barbershop.
According to my research, turning a profit via the hair-cutting route should be easy even for Washington. There are nearly 100,000 barbershops in America. The large majority of them (91%) are profitable. Overall, their profit on receipts is 38%.
Ah, you might suggest that to turn a profit, perhaps the SHCB should charge more for a haircut. Why not charge what the millionaires in this country pay? The typical millionaire pays only $16.00 (median, tip included) for his haircut; one in four pays under $12.00...
Read full article...
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