Feature: Krista Hilton on Managing Your Business Finances
“I have a passion for organizing and building businesses. I want to pass that along and share that passion to those aren’t so thrilled about the paperwork and numbers”
Krista Hilton, CEO of the Hilton Society has created a platform that is in the business of helping businesses. She creates, organizes and manages systems for businesses so people can feel more freedom from their finances, rather than being bogged down by them. Her previous experience as an Italian hair color educator fuels her passion for helping stylists monitor their business systems.
“[The best piece of advice I’ve received throughout my career in the industry is] ‘You can train a monkey to apply color, you can’t train them how to mix it and why’ [I learned] that the way color works and the chemistry behind it is the most important thing about actually being a stylist….he also taught me how to properly charge and it was a way bigger pain to calculate back then with no smart phone!”
When asked about where she believes the salon industry will be in five years she thinks it is at a pivot point and shift is approaching:
“For example, take the real estate industry: Zillow and Redfin swooped in as tech companies and painted this pretty picture of less work for Real Estate agents and more hands on buyer. The real estate boards all over the country have opened up their MLS systems (the private database all transactions are stored) giving the tech giants access.
At first this was fine but the long game for these tech companies was ignored. Their goal is to dominate the market. Now they are deeply discounting the average commission of agents by hiring their own agents in house. All of this while charging real estate agents by hiring their own agents in house. All of this while charging real estate agents an obscene amount for lead generating advertising on their site. The very sit they would not have access to if the local real estate boards threw the hammer down and said no more.”
I see the hair industry riding a similar line. The lack of technical color and ingredient education out there is disturbing and its because giants like L’Oreal are playing both sides of the fence. It’s more scary now because they don’t need the stylists to stay afloat, they already have the market share…your clients”
Her concern is that big corporations are buying out most of the products that are used in the industry making it more expensive for professional salons to purchase the costs required to provide their services which in turn is driving up prices where clients are getting more reluctant to pay these prices – driving them to use over the counter products
“My dream is for the hair industry to fight back and tell them to stop waving shiny objects at us while stealing from us blind…there seems to be more education available and a rising number of stylists who want to push past the norm and create a well respected industry. I love that”
Hilton offers a special package specifically for stylists to help them grow their business and work towards achieving their financial goals. Hilton notes that aligning her services with SalonScale “makes it simple to do one of the more complicated parts of actually keeping accurate records and managing expenses”
“We get your retail, backbar, color costs and business + persona finances in order. We create a nice automated system for you to maintain so you can avoid burn out and eliminate the stress of working after work”
Krista says that during their program they train you on how to keep all these things in tact and then you get to decide if you want them to continue maintaining it for you or not. If you are a SalonScale user you will receive a special discount for her program or a free year subscription will be included in the cost of her program if you are not a current user.
Below is the special offer that Krista is offering to stylists that are looking for more financial security within their business. DM us on our Instagram and receive a special promo code to use to gain access to an instant discount on her service!
For more resources, we asked Krista her favourite podcasts that she recommends giving a listen!