Meet Faye Bailey! Faye was a hairstyling rock star (and now major business owner) who kept her eye on the prize. The prize we are talking about is $1,000,000+ in revenue! She has prospered in the salon industry, built her own brand, and still found time to give back to other women through training and mentorship. Read below to find out how Faye’s faith in herself and others has led her to the million dollar mark.
How Did You Get Started?
We have been in business for 30 years. Since I was 14, I dreamed of having a business doing hair. Playing with baby dolls and styling friends’ and family’s hair inspired me, so from a young age I had an idea of the kind of business I wanted to create. I worked in corporate at Bell South and then my co-workers inspired me to open the salon. I invested my stock from the Company to open the business. I have since expanded to five salons. In 2000, I also founded Hair in the Spirit; a non-profit organization that develops future entrepreneurs through our mentorship program.
Who’s on Your Financial A-Team?
As far as money management goes, I get all my financial mentoring from my CPA and financial advisor. My business has seen tremendous growth since we automated our salons. We have grown more than 50 percent!
Highlights (Beyond Your Million Dollar Milestone)?
The greatest moment in my career is when my students and others I’ve mentored open their own successful businesses. Two students and a mentee opened their businesses with All Dolled Up and expanded the brand. Currently, our company has five locations that generate more than a million dollars a year in sales. To create jobs is a blessing.
Do you Have Money Advice for other business women?
Marketing, as well as dependable and expandable software, are the keys to our success. I would advise beauty professionals in business to develop leaders on their teams and to have a mentor to speak with regularly. My faith is my motivation!