156 This Could Be the Business Model for You with Blake Reed Evans

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!AntonyLinks and Resources:Grow My Salon Business Website | Facebook | InstagramShear Art SalonWebsite | Facebook | InstagramBlake Reed EvansInstagram | Facebook | TikTok | Email