Blo – Daly City
“Having support from the SBDC helped ease the process for me. When I went into this, I felt alone and isolated. Over time, I built a team of experts that allowed me to succeed and bring this vision to fruition. I don’t know if I could have done it without the San Mateo SBDC.” Marissa Torres, Owner, Blo Bar.
Photo by Scott Buschman
Marissa Torres had invested in the Blo Bar franchise but needed guidance to start the business, complete a business plan, and get funding. She received help in these areas through the San Mateo SBDC to bring her vision to fruition.
Company Profile
Marissa will open her storefront on October 14, 2022, after years of working on permits for the location. Before the pandemic, she invested in a blow-dry bar franchise. She received $350k in funding for the start-up, signed a lease for a location, and has been working on permitting and other business priorities since then.
Marissa is launching “Blo” a blow-dry bar concept that provides regular blow-dry and makeup services to clients. The vision is to make a weekly or bi-weekly blow-out as common as getting a manicure or pedicure.
For their soft opening, Blo is offering blowouts at $40 (reg $55) until October 23 and memberships are $75 (reg $90) until Nov 15.
Challenge
When Marissa decided to launch her business, she knew she could lean on her marketing background and recognized that she would need support with other parts of the business development. Marissa wanted to optimize the money and time she had and sought help from someone with a professional background in business. She discovered that the SBDC provided the expertise and counseling she was looking for at no cost and started to work with a business advisor in Sept of 2021.
Marissa reviewed her financial plan and completed a cash flow analysis with her business advisor within the first two months of starting services. This process led to discussions about additional funding options and a timeline for other priorities to be completed
Gameplan
Marissa had one-on-one advising, where her business advisor explained the information in simple steps and gave her homework assignments after each session. The advising sessions helped her better understand her financials and set targets so that she could be profitable when the business opened.
In a six-month period, Marissa and her advisor worked on a thorough financial review, press releases, construction and renovation bid, lease agreement, and franchise agreement discussions. Her advisor also helped Marissa navigate through an unfortunate wire fraud incident. The business advisor helped the client document what had happened, file a police report, and explore ways to get her money back.
Results
Marissa Torres had invested in the Blo Bar franchise but needed guidance to start the business, complete a business plan, and get funding. She received help in these areas through the San Mateo SBDC and hired staff. Marissa is excited to serve the upper peninsula at Blo Bar, where she will give greater access to great blow-dry services to San Francisco and northern San Mateo County residents.
“Having support from the SBDC helped ease the process for me. When I went into this, I felt alone and isolated. Over time, I built a team of experts that allowed me to succeed and bring this vision to fruition. I don’t know if I could have done it without the San Mateo SBDC.” Marissa Torres, Owner, Blo Bar.
