Management
Episode 156
6 September 2022
As a former salon owner and business coach, I am very aware of the ever-evolving business models in the industry and the challenges that these create for some people.
I have often thought about why more salons haven’t tried to grow in the same ways that law firms, accountancy firms, and architecture firms do; by having a partnership model that not only creates a career path and profit sharing for the partners but also allows the company to keep growing.
My guest on today’s episode is Blake Evans from Shear Art Salon in Tampa, Florida. Not only do they have a very impressive partnership model, but Blake is happy for me to dig in and ask exactly how it works.
So, in today’s podcast, we will discuss:
- How do you decide who will be invited into the partnership program?
- How do they buy into the partnership?
- How is their shareholding valued?
- What happens when partners want to sell their shares?
And lots more!
In this Episode:
[03:08] An overview of Blake’s transition from marketing student to hairdresser.
[06:02] Blake’s advice for finding the right salon for you, and why he chose Shear Art.
[08:36] The evolution of Blake’s career at Shear Art, from assistant to owner.
[11:21] Benefits of a partnership model.
[13:26] Factors that drove the founder of Shear Art to implement a partnership/shareholder model in the salon.
[19:00] What Blake loves about the shareholder model at Shear Art.
[21:11] Blake explains how an employee can become a partner at Shear Art.
[25:53] The different investment options that incoming partners can choose between.
[31:43] Examples of the different roles that are held by Shear Art shareholders.
[34:30] How Blake’s marketing background has impacted the way he does business.
[37:13] Blake explains how partners are paid.
[41:53] How Shear Art shares are valued.
[46:33] Some of the clauses in the Shear Art shareholder contract.
[50:32] Blake shares some examples of how decisions are made in Shear Art’s partnership/shareholder model.
[54:34] The challenges of a partnership/shareholder model.
[1:00:21] Final words of wisdom from Blake about living in an ever-evolving world!
Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!
They do matter in the rankings of the show and help other people find my podcast.
I also love to hear what’s been helpful and what you love about the podcast! Just click here to review, scroll to the bottom, tap “Ratings and Reviews” tap to rate with 5 stars and “Write a Review” and let me know what your favourite part of the podcast is. Thank you for your support!
Special thanks to Blake for sharing his insights with me for this week’s episode.
Until next time!
Antony
Links and Resources:
Grow My Salon Business
Website | Facebook | Instagram
Shear Art Salon
Website | Facebook | Instagram
Blake Reed Evans
Episode 153
16 August 2022
Think carefully about the titles that you use to refer to people because everything has a meaning attached to it. Some titles are empowering, while others could be considered demeaning.
A listener recently ask me why I use the term “client” instead of “guest” and “hairdresser/stylist” instead of “artist.” So, in response to that question, today’s episode is dedicated to titles.
Whether they are for the people on your team or for those who frequent your business, titles really do matter!
In this Episode:
[00:45] The question that inspired today’s episode.
[01:30] Examples of how terminology differs between countries.
[02:05] The broadly accepted definition of customer.
[02:23] Percentage splits in the responses to my online survey about whether salon owners use the term client, guest, or customer.
[03:09] Factors that influence terminology used in salons.
[03:49] Why I use the term ‘client’ rather than ‘guest’ (or ‘customer’).
[05:08] Why I refer to hairdressers as ‘stylists’ rather than ‘artists.’
[06:45] My preference for the term ‘assistant’ over ‘junior’.
[08:11] Examples of how titles can be used to elevate a position within a salon.
[10:01] An overview of why titles are important.
[10:30] The winner of the Most Fun Title Award (if there was one!).
Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!
They do matter in the rankings of the show and help other people find my podcast.
I also love to hear what’s been helpful and what you love about the podcast! Just click here to review, scroll to the bottom, tap “Ratings and Reviews” tap to rate with 5 stars and “Write a Review” and let me know what your favourite part of the podcast is. Thank you for your support!
Until next time!
Antony
Links and Resources:
Grow My Salon Business
Website | Facebook | Instagram
Episode 150
19 July 2022
What is Freedom and How Do We Balance That with Running a Profitable Business? with Antony Whitaker.
Regardless of what business you are in, the challenge every business owner faces is that of constantly adapting and evolving to the changes in the world we live in.
Whether it’s the demands for more flexibility from today's workforce or the pressures of inflation and the rising costs of living and doing business, the fact remains that being in business isn’t easy, and to succeed, you need to constantly evolve.
And therein lies the challenge. How do you build in more freedom, flexibility, and autonomy for your team?
And how do you balance that with running a viable and profitable business?
In this Episode:
[00:54] Why I recommend watching WeCrashed.
[01:14] The question that inspired today’s episode.
[02:13] Important realizations that many people have come to as a result of the COVID-19 pandemic.
[04:08] The tradeoff between income and freedom.
[04:27] Changes that many stylists made to their way of working during the pandemic.
[05:22] A few different definitions of freedom in relation to the salon industry.
[08:04] Comparing the trajectory of the salon industry in relation to other industries.
[09:13] The importance of treading cautiously when implementing change.
[10:27] Factors that make the salon industry ideal for disruption.
[11:19] 30: the number of hours a week being worked by over 60% of hair and beauty professionals in the United States.
[12:26] The downsides of the proliferation of independent businesses.
[13:48] An overview of my thoughts on the increasing levels of flexibility and autonomy in the salon industry.
Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!
They do matter in the rankings of the show and help other people find my podcast.
I also love to hear what’s been helpful and what you love about the podcast! Just click here to review, scroll to the bottom, tap “Ratings and Reviews” tap to rate with 5 stars and “Write a Review” and let me know what your favourite part of the podcast is. Thank you for your support!
Until next time!
Antony
Links and Resources:
Grow My Salon Business
Website | Facebook | Instagram
Episode 149
12 July 2022
How Technology Can Streamline All Your HR Needs with Ian Egerton
As I often say, we are in the ‘people business.’ This means that our primary product is the people who sit in our chairs and the services we offer to make our clients happy.
But from the salon owners' perspective, we are also in the ‘people business’ in that because our teams are also our product and our most important asset.
The Human Resource (HR) regulation around employees varies from country to country but no matter where you are listening to this podcast there are almost definitely more complexities around managing your team today than there were 5 years ago.
And managing those complexities takes time, and time is money.
My guest on today's podcast is Ian Egerton, hairdresser, salon owner, and the founder of Loop HR Salon Software. Ian’s software solution makes the HR component not just much easier to manage, but also extremely professional.
In today’s podcast we will discuss:
- The role of ‘HR’ in a successful salon
- The benefits of getting more organised, systemised, and automated when it comes to HR…
And lots more!
In this Episode:
[02:39] An overview of Ian’s journey from “Saturday boy” in his local salon to the founder of Loop HR.
[08:55] Ian’s approach to business development.
[11:48] Origins of the name Loop HR.
[14:25] Experiences that motivated Ian to found Loop HR.
[16:24] An explanation of how Loop HR works.
[24:01] The 4 pillars of business, and where Loop HR fits in amongst them.
[24:52] Elements that make Loop HR unique.
[25:30] Examples of Loop HR in action.
[30:56] How to use Loop HR.
[32:33] The benefits that Loop HR provides to salon employees.
[37:52] Ian explains how salon owners can integrate Loop HR into their systems (and the assistance that he offers).
[41:15] The 3 subscription-based packages offered by Loop HR.
[43:10] Ian’s greatest joy.
Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!
They do matter in the rankings of the show and help other people find my podcast.
I also love to hear what’s been helpful and what you love about the podcast! Just click here to review, scroll to the bottom, tap “Ratings and Reviews” tap to rate with 5 stars and “Write a Review” and let me know what your favourite part of the podcast is. Thank you for your support!
Special thanks to Ian for sharing his insights with me for this week’s episode. Until next time!
Antony
Links and Resources:
Grow My Salon Business
Website | Facebook | Instagram
Loop HR
Episode 144
7 June 2022
Inflation and the Looming Recession: What should salon owners do to be prepared?
I've had a few questions recently from listeners regarding inflation, the looming recession, how they are impacting the hairdressing industry, and what I believe salons should be doing to counteract it.
In this episode, I dive in and explore what the implications are for the salon industry (and for small businesses in general) as many countries experience the worst inflation in over 40 years…
To say it’s new territory for many business owners is an understatement!
The 3 main topics that I cover in this podcast are:
- What are the lessons we have (hopefully) learned from Covid?
- The importance of understanding where you and your business are from a financial perspective at any point in time.
- How do we, as small business owners, navigate the financial road ahead?
In this Episode:
[04:01] 6 core lessons that we have learned about the salon industry from the Covid pandemic.
[05:28] Examples of factors that cause business disruptions, and the importance of being prepared for them.
[06:20] Why you should always be looking for opportunities to maximize income and minimize outgoings.
[08:03] How running a business is analogous to flying a plane.
[09:37] 7 questions to help you determine whether you understand the financial side of your business.
[11:54] A reminder that cash flow is essential, and advice on how to keep track of it.
[13:27] Tips for reducing your outgoing costs.
[14:44] The importance of keeping your personal credit rating high as a business owner.
[15:40] Examples of how to maximize your income.
[16:04] The benefits of monitoring your cash flow budget daily (or at least once a week).
[16:28] Why you should raise your prices.
[17:15] A recession doesn’t mean your business has to suffer; be prepared for opportunities!
[18:29] Value in having a good accountant during challenging economic periods (don’t get your financial advice from social media!).
[19:20] How to avoid potential tax-related issues.
Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!
They do matter in the rankings of the show and help other people find my podcast.
I also love to hear what’s been helpful and what you love about the podcast! Just click here to review, scroll to the bottom, tap “Ratings and Reviews” tap to rate with 5 stars and “Write a Review” and let me know what your favourite part of the podcast is. Thank you for your support!
Until next time!
Antony
Links and Resources:
Grow My Salon Business
