We recently connected with Michelle Caba and have shared our conversation below.

Michelle, appreciate you joining us today. What was it like going from idea to execution? Can you share some of the backstory and some of the major steps or milestones?

My story is one of entrepreneurial spirit and a passion for business. Coming from a family of entrepreneurs, I learned about business at a young age. My father owned multiple businesses for over 30 years and my mother always had a side hustle. My aunt and uncle owned a small franchise of steakhouses, providing me with a glimpse into the world of business ownership.

With a natural inclination towards business, I began my career on Wall Street where I studied global brands and businesses. I was in a sales position that required me to think like an entrepreneur, always looking for ways to increase may company’s bottom line. Through my studies and my family’s business experiences, I developed a keen eye for identifying profitable business opportunities.

In 2018, I put my business acumen to the test when I purchased a nail salon in Hoboken. Through branding, knowing my numbers, and smart marketing, I turned the salon into a profitable business. However, I sold the salon and just as I was about to purchase a second larger salon, the Covid-19 pandemic hit, forcing me to put my plans on hold.

Undeterred by the challenges posed by the pandemic, I pivoted my business model and became a business strategist and consultant for business owners who had become good friends. I built my business completely through my network and strategic partnerships, relying on my expertise and reputation to attract new clients.

I eventually moved to Florida, where I continued to build my business and reputation as a top business strategist and consultant. I credit my success to building a solid brand, knowing my numbers, executing on my strategies, and building a sphere of influence.

My story is one that I hope inspires entrepreneurs, showcasing the importance of hard work, determination, and a passion for business. Through my family’s business experiences, my education, and my entrepreneurial spirit, I’ve carved out a successful career as a business strategist and consultant, helping others to achieve their business goals.

Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.

I had a 20 year career on Wall Street. The last 16 years I held sales and business manager positions in the Fixed Income Trading space. I hold a bachelors degree from Syracuse University and a Master’s Degree in Behavioral Psychology from Columbia University. Entrepreneurship is a family tradition, I come from a family of successful business owners. With a father who owned several businesses over the course of 30 years, my mom who always had a side hustle, and an aunt and uncle who owned a small franchise of steakhouses, the love of business was ingrained in me from an early age.

Determined to gain a deeper understanding of the business world, I chose to pursue a career on Wall Street. There, I learned about money, global brands, and the secrets to business success. However, I soon realized that there was a disconnect between this knowledge and the resources available to small business owners.

Motivated by the desire to help small businesses succeed, I decided to start my own business. My goal is to bridge the gap between the resources available on Wall Street and the needs of small business owners. By providing the knowledge and tools needed for small businesses to thrive, I hope to make a positive impact on the business world and help others achieve success.

I help small business owners in brand development, knowing their numbers, executable marketing strategies, sales coaching, and growth mindset strategies.

Let’s talk M&A – we’d love to hear your about your experience with buying businesses

I purchased a failed nail salon from a reality star with 2 million followers in Hoboken, NJ.

The acquisition process wasn’t easy, though. I needed a lawyer to look over the commercial lease, and we had to negotiate the price several times. It was important for me to do my due diligence on the market, my potential market share, and why the previous owner’s business wasn’t making money. I needed to know what I could bring to the table to make it profitable.

When I first heard that the salon was for sale, I was a little hesitant. The reality star had closed the business because she just couldn’t keep the employees and make it profitable. But as soon as I walked into the beautifully decorated space, I knew I had to give it a shot. The salon had all the makings of a successful business – all I needed to do was brand it, know my numbers, build a team, and market it.

And that’s exactly what I did. I focused on offering unique products and services that no one else in the area had, such as CBD manicures and pedicures. I also invested in a nail printer that no one else had, which allowed me to offer custom designs to my clients.

But I didn’t stop there. I knew that if I wanted to succeed, I needed to get the word out about my salon. That’s when I partnered with the W Hotel and invited local influencers to come check out my salon. The result? A massive increase in brand awareness and profits.

I can tell you firsthand that starting and running a business is not easy, but with a little bit of hard work, determination, and creativity, anything is possible. I never would have thought that a failed nail salon would turn into a thriving business, but that’s exactly what happened.

We’d appreciate any insights you can share with us about selling a business.

Starting and running a successful business is no small feat, but sometimes, even when you have a thriving business, it’s time to move on to bigger and better things. I had a passion for building businesses and a bigger vision. I knew I wanted to do more of that. This helped me decide to sell my successful nail salon.

I had a vision of owning a larger space and having more room to grow and expand my business ideas. I was limited by the square footage of my current salon, and I knew it was time to move on. So, I made the difficult decision to sell my business to my in-house makeup artist, who still owns it to this day.

Selling a business is not the same as selling a home. In my case, I received a down payment, and then we agreed on monthly payments until the final payoff. If you’re thinking about selling your business, it’s important to understand that you’ll need to be creative on payment options, it may take longer to sell, and you should always ask your staff or those close to you first before entering it on the market. You never know who you may be helping achieve their dream of business ownership. In my case, it was my in-house make- up artist.

Contact Info:

• Website: www.famaagency.com
• Instagram: https://www.instagram.com/iammichellecaba/
• Facebook: https://www.facebook.com/michelle.caba/
• Linkedin: https://www.linkedin.com/in/michellecaba/
• Twitter: https://twitter.com/IAmMichelleCaba
• Youtube: https://www.youtube.com/channel/UCMA-d_Nds5VqpAGHdwiSIAg
• Other: https://www.patreon.com/StyleYourBusiness?fan_landing=true&view_as=public

Image Credits
@theglomedia