Episode 89
Building My Own Salon & Education Company | Corey Paul | Stylist + Salon Owner + Educator | Corey Paul's Hair Studio | NC
Tune in to hear how Corey built his salon from a suite, started an education company, and launched his own product line!
KEY TAKEAWAYS:
-- Cosmetology School to Salon to another Salon to a Suite and now a Salon Owner
-- I pivoted from a Suite b/c the salon suite company got Foreclosed on. So, I opened a salon!
-- I grew to a 14 Stylist Salon from a Suite!
-- Rising Stylists & Beyond:
-- Soak up as much education as you can!
-- I spent 1 year training AFTER school before getting on the floor.
-- Opening a salon:
-- Sought out Store Fronts
-- Found a spot with potential
-- They asked me to sign a 4 yr lease
-- I made sure I could afford the expenses by myself and not sacrifice my lifestyle
-- I put down 1st month + security deposit to secure the lease
-- Then I started Marketing and Recruiting and Started Hosting Classes at the salon to build a reputation and recruit
-- I networked at a hair show and was able to join a brand as an educator
-- EDU Biz: videos and conversations about handling hair and business challenges
-- Joining a brand and leveraging the following of that brand helps you build your OWN brand
-- Building a Product Line: If you want to formulate your own, it’s around 20k. If you private label someone else’s line with your brand, much less expensive
-- Private label means you take someone else’s product and put your logos on it. You may be able to adjust a few things about the product, but you are usually limited.
-- The more customization, the more it costs!
MENTIONED IN TODAY’S EPISODE:
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