Suffolk salon gets a makeover following £70,000 funding boost

A Suffolk salon is set to increase turnover from £400,000 to £500,000 this year after relocating and re-branding following a £70,000 Enterprise Finance Guarantee Loan (EFG) from a high street bank.

Formally known as The Hair Workshop, based on Market Hill in Framlingham, the newly rebranded Carley Hill Hairdressing is located on the same street and is due to open on 18 October 2010.

Owner, Adam Snare, who has worked in the industry for 18 years, wanted to grow his business by relocating to larger premises and re-branding the salon.

Adam approached his long-term banking partner for a £70,000 EFG loan needed to renovate the 1700 sq ft listed site, which had functioned as a traditional grocer for 100 years.

The move will enable Adam to grow staff numbers from 20 to 25, develop a training school and increase the level of customers serviced from 230 to 300 each week.

Adam Snare said: “As the son of a hairdresser, I have always been passionate about the industry. After starting the salon in 1992 and working on the shop-floor for many years, I took a step back and decided to run the operational side of the company.

“Relocating the business will provide the momentum to freshen-up our image, grow our staff and client numbers and reach our target of £500,000 turnover by the end of the year.

“With the support from my bank, I was able to access the funding I needed to start to achieve my long-term ambitions for the business.”

The bank’s Relationship Manager said: “Entrepreneurs are the life-blood of our economy. Adam’s flair for the profession coupled with his commercial drive has been instrumental in his success.

“By working closely with him, we quickly decided that an EFG loan would be the ideal funding package he needed to relocate and re-brand.

“For Adam, the EFG was the right choice as it has been designed specifically to support smaller businesses. We greatly look forward to seeing the new premises finished and open next month.”