Hairdresser ties up salon acquisition with funding package
An Exmouth hairdresser has bought the salon she has managed for the past eight years after securing a five-figure loan from NatWest.
Nicola Askew started as a trainee stylist at Strands Hair after leaving school 16 years ago. She has taken over from previous owner Graham Crawford-Turner who had been at the business for almost three decades.
Askew secured £43,000 from NatWest to make the acquisition and has retained the salon's four staff, as well as taking on a new assistant.
"It is a lovely salon – it’s just like being at home. Most of our business is regular clientele. It very much feels like a family – all of the stylists have been here between eight and 25 years," she said.
"It suddenly became very clear that I was going to have to make a move myself or settle for someone else running it. It was daunting, until I discussed it with the staff and they all told me that if I didn’t buy it they would leave. They were fearful of the dynamic changing."
Askew will now recruit an additional full-time member of staff to offer nail services and hopes to open a sister salon in Cranbrook.
Steve Hawkins, relationship manager at NatWest, said: "Nicola is experienced in her sector and this was a great opportunity for her to own and grow her first business."