Whether you expect to sell your salon in 6 months or in 20 years, the time to start preparing is now, says Chris Wittich, a CPA who works with Summit and specializes in salons.  Early planning leads to better outcomes, smoother transitions, and higher valuations. And unfotunately, many salon owners miss the mark then it comes to the true value of their salons. 

In this episode you'll learn exactly what factors into a salon's value, and how to make your salon company attractive to buyers. Also: Where to look for a buyer, and tips for selling in "bite-sized pieces" to you own team members. And:  Red and green flags to look out for if you're looking to purchase a salon, 

This is the first in our three part Financials 101 series with Chris Wittich. Learn more about Chris' firm, Boyum Business Advisors. 

ICYMI: Learn more about the changes to the FICA tax tip credit and new tax-free tips rules that benefit salon owners and stylists. 

Stay tuned for the next episode in our series, where Blake and Chris will dive into tax structures and how to set up your business for financial success.

Follow Summit Salon Business Center on Instagram @SummitSalon, and on TikTok at SummitSalon. 

SUMM IT UP  is now on YouTube! Watch extended cuts of our interviews at www.youtube.com/@summitunlocked

Find host Blake Reed Evans on Instagram @BlakeReedEvans and on TikTok at blakereedevans. His DM's are always open! You can email Blake at bevans@summitsalon.com. 

Visit us at SummitSalon.com  to connect with others in the industry.