Company Update from the CEO - The Colour Bar by Lorena

Company Update from the CEO

This is a snapshot of 2019 Wrapped at The Colour Bar. We had many setbacks but much stronger comebacks:

Last year was one of the most challenging in The Colour Bar’s history. However, thanks to our team efforts, 2019 was also the most successful year in The Colour Bar’s history: Our 2019 sales surpassed all of 2018’s by the 3rd quarter. We went from being the #1 salon for Davines in volume to being the overall #1 salon for our distributor, Bassett Salon Solutions. Our focus on website sales helped it grow an astonishing 1,275%. It’s truly remarkable what we’ve been able to achieve considering the size of our staff.

Our East Sacramento location remains as The top 3 highest rated hair salon on Yelp for the 7th consecutive year. The Colour Bar received it’s 5th consecutive #1 “Best Place To Get Your Hair Done” award and our first ever #1 “Best Place To Get Pampered” by the Sacramento News and Review. Our co-founder, Lorena Martinez, received the “Women Who Mean Business” and “40 Under 40” awards by the Sacramento Business Journal.

Our challenges included 6 staff members (or 25% of our workforce) leaving the company, including 3 of our senior stylists who made great contributions. Changes in senior staff create a significant impact, however we continue to make improvements for training new talent at a faster rate. Despite some people leaving, we still grew as we added a total of 8 staff members to the team in 2019. As a company who fully supports a work-life balance, we also made adjustments to support those staff members who wanted to work less hours.

Unfortunately, we had to raise our prices in 2019 to make up for the increased business costs. Despite our increase, our prices have remained competitive. To make up for the increase, we implemented discounted service bundles for our most loyal clients. In addition, we offered more deals on our retail products than ever before.

We have invested a significant amount to renovate our fast-growing Midtown location and provide a better customer experience.

As we continue to improve our processes and procedures, The Colour Bar’s growth is inevitable. We will develop leading staff to grow as our operations grow. We will continue to roll out new products and services to better serve our clients. We have two amazing projects branching from The Colour Bar: Beyond The Chair & Beauty On The Glow. Lorena and I look forward to continue exploring other options for growth which we cannot announce at the moment.

To the customers and staff who have departed from The Colour Bar, thank you for everything you have done to advance our mission. We are grateful. We would not be where we are today without you.

To the customers and staff who continue with us, we look forward to continue serving you. I believe we are the strongest hair salon team in the Sacramento area, and our salon is comparable only to the best salons in the West Coast.

I am honored to serve you.

Thank you for everything.

Alfonso M