Nationwide — Beauty Supply Lending Group, an organization recently founded by Professor Devin Robinson, who wrote the best-selling book Taking it Back: How to Become a Successful Black Beauty Supply Owner in 2007 and founded Beauty Supply Institute in 2008, continues his work in the ethnic beauty industry with this additional endeavor.
When asked, why take this step? he said, “My goal was always to become a one-stop shop for those interested in store ownership. It is a lucrative business to get into, but start-up capital was always the top obstacle for them.”
In 2010, Beauty Supply Institute began hosting two biannual conferences; one on the west coast and one on the east coast, to educate individuals on the overall business, how to get in and if is best for them.
To date, Beauty Supply Institute has opened just over 100 stores in the United States, Canada and the Caribbean. Its expansion into funding, gives future owners a better shot at getting into the business with adequate funding.
Beauty Supply Lending Group offers a few options for aspiring store owners, from traditional SBA loans to non-traditional loans only requiring a minimum 551 credit score. Interest rates are competitive and start-up loans can go as high as $150,000 for future owners and up to $400,00 for existing store owners.
Robinson went on to state, “This has been a trying year for me personally (earlier this year his youngest son became mysteriously paralyzed from the chest down) and professionally, the company’s rapid growth caused operational disruptions that forced me to implement expensive corporate-like strategies.”
Beauty Supply Institute’s next conference will be held in Los Angeles, CA on January 19-20, 2019. To register, visit www.BeautySupplyConference.com.