Alright – so today we’ve got the honor of introducing you to Anné Montague Young. We think you’ll enjoy our conversation, we’ve shared it below.
Anné, appreciate you joining us today. Let’s jump right into the heart of things. Outsiders often think businesses or industries have much larger profit margins than they actually do – the reason is that outsiders are often unaware of the biggest challenges to profitability in various industries – what’s the biggest challenge to profitability in your industry?
Overheard costs in the beauty industry are HIGH. Depending on the brand you decide to use, a tube of color can be $6-10, On any given day, I carry 200-300 tubes of color to ensure I have options for whatever my guests may decide they want. Licensing fees, advertising fees, utilities, laundry service…the costs add up quickly. It’s important to have business acumen and know the costs of goods to ensure you pricing can make you profitable.
As always, we appreciate you sharing your insights and we’ve got a few more questions for you, but before we get to all of that can you take a minute to introduce yourself and give our readers some of your back background and context?
My dad was a huge part of me becoming a cosmetologist, namely because he had zero experience helping me get my hair into a ponytail for school. He also went to a vocational school to drive trucks so he was always supportive of an alternative to a 4-year degree. Once I was a licensed cosmetologist I quickly found a niche that I wanted to make my own. That was hair color. There were very few black hair colorists and I thought it was important to become one. There was always a perception that black hair was so fragile or complicated that if we colored our hair anything behind black or red, that it would break. There was also the issue of blonde. Could this texture of hair handle lighter colors and what color would look good on what what skin tone. I became obsessed with learning the chemistry of hair color and how our biology affects the end result.
I pride myself on being a resource to my guests. While I enjoy proving services and building a rapport with them, I love teaching them how to maintain their hair as well as building confidence in their routine. I always strive to be the “beauty guru,” and always recommend tips for their entire beauty routine and not just their hair.
I remain passionate because this industry because beauty is every changing. Trends emerge and re-emerge. There are so many ways to make a person feel beautiful and I’m happy to be apart of it.
What do you think helped you build your reputation within your market?
Consistency. While social media is where you can have a huge following, my biggest driver of new business is my reputation. Word of mouth, referrals, and reviews are were I get 80% of my business. I am honored that my guests still a decade later speak highly of me.
Do you have any stories of times when you almost missed payroll or any other near death experiences for your business?
COVID-19! Changed everyone’s life.
I had decided to open my business in February of 2020. The world shutdown in March. I had poured everything into my startup just to have all of the tools and nowhere to use them. I had only always been an employee by 2020 and was used to having a paycheck to fall back on but for the first time I was on my own. The thoughts of “what if,” were scarier than what actually was happening. The shutdown helped me gain some perspective and gave me time to really dive into what I wanted for my business. When we were allowed to reenter salons, I was sure to be there with my plan.
Contact Info:
- Website: Montagueandmane.com
- Instagram: @Montagueandmane
- Facebook: Facebook.com/montagueandmane