powerpoint

2. How we met!
The owner of Salon West opened his business
out side my home about two years ago. His
name is but he would rather be called V.
There are a lot of small businesses on June St.
and I know all of the owners so I just really got
to know V, just like everyone else.
Now my boyfriend and I get are hair done with V
all the time I highly recommend him.

3. Business Structure
The structure of Salon west is that it is
a small business owned by both V and
his wife.
They have a Partnership.
Relating to the book a partnership is a
legal form of business with two or
more owners.
The business is small, yet the costumer
flow is high. This is why they chose this
structure instead of being something
else.
The company is known for their name
brand products and their low priced
“student” discounts.
“Location, Location, Location”….
Salon West is located next to Doherty
memorial high school and is the main
bus stop location for Worcester
Technical High School students.

4. Background of Business
V got started with his business by
researching what it took to own a
business and become an entrepreneur.
He went to school to be a
cosmetologist and had a dream of
opening his own business.
Fortunately for him so did his fiancé at
the time. She encouraged him to go for
it and they planned to be partners in
owning the business.
His wife helped invest money into their
small business.
Why they decided to open the
business is because they found that
the people in my area had to go all the
way downtown to find a good hair
salon. Therefore they had a chance.

5. Training and Background

6. Training background Cont.
• V went to school to be a doctor but
changed his mind.
• He did not finish college but his wife
did.
• He went to Rob Roy and received his
certificate in cosmetology.
This compares to the company now:
- you can tell he has experience.
- he loves what he does and it is
really great that he changed his
profession.

7. Successes and Challenges
Challenges: Successes:
One of the biggest challenges A major successes was that V’s
that both V and his wife agree wife had to enough money to
on was advertising. invest In their business. This
helped them advertise and
It was really hard to get their other small businesses around
name out there and bring in the neighborhood gave out
the costumers. flyers and business cards for
the salon. This was a major
success because they
overcame their biggest
challenge.

8. Successes and Challenges Cont.
Challenges running the business Overcoming Challenges
• Biggest Challenge running • They overcame this
the business is keeping challenge they Separated
personal life separate from the work.
business life. • V’s wife does all the paper
• It is hard being married and work and background work
having a partnership. while V actually does the
services.
• So the couple is not around
each other too often.

9. Critical success factors for this business
Employee’s Fatal Flaws
Hiring experienced workers If a costumer is not satisfied
were needed for this business. with their work that is a fatal
Getting new workers is a very flaw to the business.
hard thing to do financially, If the word got out that they
and time consuming wise. give bad service than they
would have no clients and
their business wouldn’t make
much money off of just selling
their name brand products.

10. Future Plans and Goals
• Yes, the business will be running for more
years to come.
• The business might turn into a family owned
company. The couple would like to pass down
the small business to their children.

11. My Interesting questions
Q: Was it difficult opening a new company with your wife?
A: “Yes”. V said that sometimes you have to let both lives
interfere with each other just hope it effects you in a positive
way.
Q: Did you have any doubts?
A: Only when they first opened. The company had advertising
issue’s. A small flower business next door from Salon west told
him about putting business cards in stores near by.
Q:How did your parents feel when you dropped out of college?
A: at that point V had moved in with is wife and he was having
trouble at home so his parents were not really in the picture.
Now their proud of him.

12. Summary
• Basically Salon West is a small business in the city of Worcester, with a
great reputation, owned by a couple, that is trying to build a family
business.
Advice to class:
“Do what you love, getting a job in tis economy is one thing, but having a
career in something you love is amazing”.
What did I learned:
I learned that it is a risk to be an entrepreneur and it is a big fifty fifty chance.
I also learned that it is worth opening a business that you love because you
are your own boss.