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Ambiance Salon

Ashland, KY

Owner: Tabitha Coyer
Center: Ashland Small Business Development Center

For 10 years, Tabitha Coyer was a self-employed hairdresser who rented a space at a local hair salon in Ashland. She always dreamed of one day opening her own salon. When an opportunity presented itself in August 2006, Tabitha first visited her bank. The bank referred her to the Ashland SBDC. She was planning to purchase an existing hair salon, in Ashland, Kentucky. The purchase price included all of the salon’s assets – land/building, equipment/machinery, inventory, furniture/fixtures, and existing client base. The current owner offered to finance a portion of the purchase price if Tabitha could acquire a loan for the remaining costs.

Tabitha needed some advice and guidance, and the Ashland SBDC has been offering such services free-of-charge in downtown Ashland for more than 25 years. She was provided with outlines, information, and worksheets so she could begin drafting a business plan and financial data for SBDC review. In the weeks that followed, Ashland SBDC Management Consultant, Kim Jenkins, worked with Tabitha to develop her business plan, prepare 3-year cash flow/profit-loss financial projections and discuss her options for purchasing the business. They determined her total project costs and finalized her loan proposal.

Within a few weeks, she was ready to submit her loan application, business plan, financial projections and etc. for loan consideration. With Ashland SBDC assistance and Tabitha’s hard work, she was approved for a commercial loan in December 2006. She purchased the hair salon, and she changed the business name to Ambiance Salon. After completing some renovations and purchasing signage, Tabitha conducted her grand opening/ribbon cutting on February 12, 2007.

In addition to hair cuts, coloring, perms, relaxers, and styling products, Ambiance also offers acrylic nails, manicures, pedicures, waxing, and facials. Tabitha’s business created both full-time and part-time jobs, and she rents stations to independent, self-employed hairdressers and a nail tech.