Innovative Funding Solutions from Benetrends Financial
David and I (the Grot’s) have known the Perry’s (Karen and John) since 1995. In 1998, John and David joined forces as independent brokers, selling health insurance. Due to the changes within the industry, we started looking for another business venture. After looking at many options, we found the Phenix franchise, and decided it was a good fit.
Perry Grot Enterprises, Inc. is aptly named for the four principals. We established the corporation in November 2014. Our business is Phenix Salon Suites, and we are the first Phenix location in Georgia. Our website is Phenix Salon Suites. We can also be found on Facebook (phenixsalonsuitesga) and Twitter (PhenixGA). Our salon officially opened on Monday, November 16th, although our Grand Opening celebration will be in the spring when all our salons are in operation and the Founders of Phenix Salon Suites, Gina and Jason Rivera, can join us!
Phenix Salon Suites offers luxury salon suites for the independent salon professional and others. Our suites offer salon and business professionals the opportunity to own and operate their own salon-type of business without the hassle and expense of facility management and maintenance.
We like how the company puts the stylists first, and they have control over their business. Due to the arrangements between Phenix and the Landlord, we are able to offer spaces at reasonable rental prices. And, should a stylist wish to share space, there are no sharing fees. Anyone in the beauty profession is a fit for our salons. We have estheticians, massage therapists, hair stylists, and, although unusual, an optician has a suite. We are nearly at full capacity, as 26 of our 28 available suites have been reserved – we expect everyone to be moved in by February.
I am a big fan of Benetrends! Steve (Stovall, Senior Consultant) and Lou (Rettenberg, Retirement Plan Analyst) have been so good at holding our hands. Benetrends is completely transparent and interested in helping us grow our business. We used the Rainmaker to fund our first store, and Apple Pie Capital is providing us with working capital. Plus, we sought out an accountant who not only knows about Benetrends, but has worked with the Rainmaker plans, and that will only help us! Karen and I have been stay-at-home Mom’s before getting involved in the business – I handle the financial records and Karen is our Sales and Operations Manager.
We are meeting challenges head on and working hard to be successful. Karen and I are learning the business by starting on the ground floor. Although we are excited about our new venture, our bread and butter still comes from the insurance business, but we look forward to the day when we can be full-time with Phenix. Our goal is to open 5 stores, but first we’ll enjoy the excitement of our first grand opening!
My advice for someone who wants to realize their dream of business ownership: Be diligent. Do tons of research, leave no stone unturned, and know exactly what you’re getting into. Find out what other people in the same business/industry have learned. Working with lifelong friends works so well for us – it’s emotionally comforting to have a sounding board. We all bring our own strengths, and they blend well together.
Our motto is: “If you’re not successful we won’t be successful. We are interested in your success.” And we couldn’t have done it without Benetrends – without them, it would still be a dream.