From $8K to 100 Stores: Scaling a Business as a Female Founder
Dear FoundHer...Real Founder Stories for Women Small Business OwnersShow Notes
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Michele Henry turned an $8,000 investment into a $25 million clothing business, then walked away and started over with skincare. Her second company shows what scaling a business really looks like when you build it franchise by franchise, growing from a single facial bar in Edina to nearly 80 locations nationwide. On this episode of Dear FoundHer, host Lindsay Pinchuk talks with Michele Henry, founder and CEO of FACE FOUNDRIÉ, about the decisions that got her there.
Michele explains how a five minute decision led her to sign a lease for her first facial bar just five minutes after selling her shares in her previous company. She breaks down the real estate approach that drove her expansion, and why she believes your first ten franchisees will define your brand.
Michele and Lindsay get into managing rapid growth during COVID, why patience matters more than most founders expect, and the years it took Michele to find the right CFO, bookkeepers, and financial team. She speaks candidly about her goal of reaching 100 locations by the end of the year, and joining what she says is a small percentage of female founders who have reached that milestone.
Press play to hear how Michele Henry built two businesses from the ground up and what she wishes she knew about scaling a business the first time around.
Episode Breakdown: 00:00 Meet Michele Henry, FACE FOUNDRIÉ Founder 00:40 From Fashion Boutique to a $25 Million Business 02:55 The Five Minute Leap to Face Foundrié 05:23 Inside the Face Foundrié Facial Bar Concept 07:44 Building Brand Awareness for a New Concept 09:54 Real Estate Strategy Behind Rapid Expansion 11:06 Deciding to Franchise the Business Model 13:14 Pivoting Face Foundrié Through COVID Shutdowns 19:32 Scaling a Business Toward 100 Stores 23:10 Hurdles Behind the Business Growth Stories 25:16 Three Actionable Steps for New Founders 26:22 Why Your Numbers Matter More Than Ideas
Connect with Michele Henry: Follow Michele on Instagram
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