We recently connected with Paige Caputo and have shared our conversation below.
Paige, thanks for joining us, excited to have you contributing your stories and insights. Any thoughts about whether to ask friends and family to support your business. What’s okay in your view?
Growing up, my parents always supported whatever I wanted to do with my life. After high school, I went to cosmetology school and worked in a salon. Then I decided I wanted to go to college and ended up working in a corporate job for 5 years in Chicago after I graduated from GVSU. In summer of 2020, I was sitting inside my apartment during Covid and was looking up salons for sale in Michigan- The next day, I spoke to my friends and family about wanting to move back to Michigan and combine both my cosmetology license and business degree to open up a salon. Not one single person told me not to. They all were excited and asked so many questions to get me brainstorming of what my vision is and how I would pull this off- Which looking back, I am so thankful for that reaction because there’s been times where I’ve been around others that mentioned wanting to follow through with a business idea they had and many people around the table shut it down or said “that’s impossible” “you’ll regret it”. I don’t find it appropriate for someone to completely disregard someone’s aspirations or dreams if they don’t necessarily align with yours. However, I do believe in playing devil’s advocate and helping someone see the pros and cons of choices they make (especially when it’s a big risk like opening up a business!)
I never really asked for too much advice from others but I did indirectly seek out validation to see if others I was close with believed that I could do this- and they all validated me which made the decision easier. The main advice I asked for was what to do financially- I remember having this gut feeling that I was going to move forward with this and I had reached out to both of my parents for advice when it came to payment ( I was 28 when I bought the business and the biggest payment I had at the time was my rent in Chicago so this price tag to buy the business was intimidating!) … I was torn between taking out a business loan or paying cash from my savings account that I had built up from my corporate job. My parents and I all agreed that taking a loan out and paying interest on it wouldn’t be the wisest if I had the cash available. At first, I was really nervous but the fact that my parents validated my work ethic and knew that If I put money of my own down that I would ensure there’s no way it would fail and that I may regret taking out a loan later. . (they ended up being right)
What I personally don’t find appropriate? I would never ask my parents, family or friends for money for my business. Some people do, and that’s totally fine! However, my viewpoint is that my parents have done so much for me that the last thing I wanted to do was take money from them in case things didn’t work out. It was way less pressure knowing that I owned the business 100% and didn’t owe anyone money and if I failed, the loss would only impact myself, not anyone that I loved. I’ve seen and heard of stories when mixing family/ friends with business took a turn for the worst and I just didn’t want any relationships to be negatively impacted if things didn’t work out.
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?
Growing up, I never really loved any of the subjects in school (with the exception of foreign language!) and always had an interest in cosmetology so naturally, right after High school, I attended Douglas J. Aveda and obtained my cosmetology license. After working in a salon, I realized I loved the business side of things and was interested in attending college where I double majored in Business Management and Entrepreneurship with a minor in psychology from Grand Valley State University. (I think my parents were so confused because they had to beg me to go to class and do homework, and now all of a sudden I am choosing to attend University.) I loved college and actually excelled in classes there- I was able to study abroad in Florence, Italy and travel and learn different cultures, traditions and worldwide perspectives. Although each country I visited was different, the same answer to the same question “what do you want to do after college?” was always “find a job to pay off my student loans and open a business eventually!” I knew owning a business was something I always wanted to do- I joined all the entrepreneurship opportunities and clubs at GVSU and surrounded myself with like minded individuals, which I think is important as entrepreneurship can be very isolating at times because those that aren’t in it, don’t understand the toll it can take.
I am most proud of doing a 180 on the business that I purchased. Not everything in the sale was 100% honest and I lived at my business the first 3 months doing a major rebrand, renovations and a whole new business model behind the scenes. Everything I thought I was walking into, was NOTHING that was actually the reality. I remember crying on the salon floor at 2 am in a city where I knew no one at the time wondering why I did this. Why did I move from Chicago where I had a great friend group and social life to move somewhere that I knew no one other than my mom?.. just to follow a childhood dream.. which at the time felt like a living hell. However, I didn’t give up, I kept pushing through and I am glad I did. I’m in my third year of ownership and the salon and it’s beyond night and day from when I first purchased it.
Something not many know is- not only do I own a salon, but I still have my corporate job (I work in sales for a technology company) therefore if there’s anything I want people to understand is- nothing was given to me or easy! There’s a lot of sacrifices and behind the scenes work that I feel like people don’t realize- It’s not luck… it’s a lot of time, sweat, stress, anxiety, risk and resilience.
In regards to the salon- Caputo’s is a full service salon located in downtown Oxford. We provide hair, nail, waxing, make-up, events and bridal services. We also carry a variety of professional products for retail and some cute boutique items! I have a very talented team where each individual is such an asset and valued component of the business. They all have such a unique skill set and are able to really build genuine relationships with our clients that we adore! The team culture is rare (but in an amazing way!) we spend so much time inside and outside of the salon together celebrating all the holidays, birthdays, anniversaries and hangout “just because!”
We often hear about learning lessons – but just as important is unlearning lessons. Have you ever had to unlearn a lesson?
Accept the unexpected and just roll with the punches. There’s always something that happens -each day, each week and each month that you just can’t let it phase you.. you just have to go with the flow. For example, within my first 6 months, in December, the furnace broke down and I had to replace the furnace in the unit that I lease from because in the contract I am responsible for all things inside of the walls. Vendors consistently increase prices, credit card companies take out so much more money then people realize, and there’s just so many payments to be made to run a business…It’s great to budget but the expense of running a small business in 2023 is astronomical and having extra funds as a cushion to cover the unexpected is crucial. ..Three years in, I am now needing a new hot water tank. . . it just never ends! lol.
Can you tell us about what’s worked well for you in terms of growing your clientele?
Word of mouth! Happy clients refer other clients and we are so grateful for the support and loyalty! It also means a lot to us when a client makes a post, writes a review, makes another appointment and tells others about us. Social media is also a powerful tool as many people utilize Facebook groups to find recommendations and we try to always keep updated work on our Facebook page so potential new clients can see our work.
Contact Info:
- Instagram: @caputosalon
- Facebook: https://www.facebook.com/caputosalon/
- Linkedin: https://www.linkedin.com/in/paigecaputo/