In late 2015, Micah Woodard, owner of Lavish Body & Home, approached the University of Scranton SBDC for assistance in expanding the hair salon portion of his downtown Scranton business, which also includes a high-end retail gift shop. Mr. Woodard was interested in refinancing his current debt and obtaining additional funding to expand and upgrade their current salon. Not knowing much about the services of the SBDC, Mr. Woodard first inquired as to what types of services were available to his existing business.
SBDC consultants worked with the business owners on determining their project cost, finding financing, and assisted with creating financial projections and a pitch. The SBDC also assisted the client with marketing ideas, social media marketing, and planning a grand re-opening. With the help of the SBDC, The Salon @ Lavish obtained $300,000 for refinancing & expansion and a $50,000 Line-of-Credit for business purchases. The SBDC also helped plan a ribbon cutting and grand re-opening ceremony which was held on June 3rd, 2016. The ribbon cutting was attended by City of Scranton Mayor Robert Courtright, as well as family friends of the owners. The Salon @ Lavish now provides expanded services in hair styling, skin, makeup and nail services. These services are in conjunction with their high-end retail gift shop.
The SBDC will continue to assist Lavish with financial management and marketing assistance.