The demise of a salon group
The past few days I have been watching from the sidelines, the demise of a venture that has culminated in the likely liquidation and closure of 50 of Australia's top hair salons. The ambitious venture of Evolve Salons was to raise capital, buy top salons, float on the ASX and walk away with a tidy profit. In theory, great. In practice, well... poor execution by "smart" people will now result in, I reckon, 250-500 people losing their jobs before Christmas.
I have learned from experience that the corporate approach to hair salons does not work. Within 18mths I had grown to 7 salons with nothing more than my capital. Accountants do not understand running a business. And they certainly do not understand running a hair salon. Yes they may know the theory, but so often accountants just fuck everything up.
I am very anti consultants. I find, too often, that businesses look to accountants and solicitors for advice on running their business. They don't know shit. Want advice? Find a peer. Listen to your customers. Listen to your staff. Find other entrepreneurs who you can have coffee with and chew the fat. If a consultant hasn't run a business of their own, then they are not the right person to give you advice.
And to all those poor hairdressers who will lose their jobs 6weeks from Christmas, I have spots available in my salon on the Sunshine Coast. It's the Sunshine Coast's best salon. www.UniversalHair.com.au.