One of her most important lessons: You’re not hiring employees, you’re building a team. She now manages the day-to-day operations and has put a team in place that can help grow the business. “We’ve secured a team of financial, marketing, and management specialists,” she says. She’s also established an organizational structure that ensures accountability in budgeting, and hired a financial officer to audit monthly spending and create a spending plan to curb unnecessary expenses.
While Braxton is more hopeful about success this go-round, she is also more strategic—something that’s key for any business to grow. “It’s like starting all over,” she says. In 2007, BBRAXTON averaged $16,000 per month in revenues with barbers, nail techs, and therapists. Today, the salon has five full-service independent contractors. “With a reduced number of contractors, our gross revenues have already outpaced 2007 numbers.” Braxton estimates that 2011 revenues will reach $200,000.
The reopened salon still offers barbering, spa services (manicures, pedicures, facials, massages), and cocktails, but added to the menu are natural hair services, including locking, twisting, braids, and cornrows. What’s new: the BBRAXTON Grooming Academy, a nonprofit that provides complimentary grooming services to senior citizens through its 26-week barber apprentice program.