Princess Parlor Kids Spa was born out of owner Jianni Smith’s desire to create a unique spa experience specifically designed for children. However, launching and growing such an innovative business came with its set of challenges. The spa required support in business accounting, budgeting, planning, cash flow management, financial literacy, managing operations, strategic growth planning, and tax planning. Recognizing the complexity of these challenges, Smith sought assistance from the SBDC to ensure a strong foundation for their business.
With a clear vision but faced with numerous hurdles, Princess Parlor Kids Spa worked closely with SBDC Consultant Carmen Braxton to tackle critical business areas such as cash flow analysis, business insurance needs, and identifying funding sources.
With a new comprehensive review of their business, Smith was able to gain critical insights that enhanced profitability and competitiveness.
Through determination and strategic support, Smith achieved significant milestones, including generating over $12,000 in revenue in the first quarter. Princess Parlor Kids Spa was recently featured in a segment on Fox5 DC, significantly enhancing their visibility and reputation. The segment can be watched here: https://www.fox5dc.com/video/1437859
Smith expressed immense gratitude for the progress made with SBDC’s support:
"We are thrilled with the progress we’ve made with the support of the SBDC. Their guidance has been instrumental in helping us navigate the challenges of starting and growing our business. Being featured on Fox5 DC was a dream come true and a testament to the hard work we’ve put in. We look forward to continuing our growth journey with the SBDC by our side."
With a solid foundation and a strategic plan in place, Princess Parlor Kids Spa is poised for continued success. The business is committed to providing exceptional spa experiences for children and looks forward to further growth and expansion. Maryland SBDC remains dedicated to supporting Princess Parlor Kids Spa on its journey, ready to assist with future challenges and opportunities.
Posted: 08/02/2024