Now that her beauty and well-being commercial enterprise has grown via leaps and bounds, Ms. Wendi Chan would like to assist folks that are eager to be her franchisees as well as different begin-ups.
Ms. Chan, the dealing with the director of Parlour Group, advised The Sunday Times that it took 3 years before her business stabilized and have become profitable.
From one beauty center in Singapore, the Parlour Group has improved to fifteen stores across Singapore, Malaysia, Indonesia and Philippines, and is really worth $8 million to $10 million.
The organization accommodates manufacturers like Pink Parlour, which specializes in hair removal, nails and spray tan services, and Parlour Supply, which distributes whitening products and waxing supplies.
The group has more than a hundred group of workers around the location and an annual turnover of approximately $five million. Next yr, it plans to increase by acquiring other chains and man or woman salons outdoor Singapore.
Besides its salon and franchise enterprise, it additionally offers training guides to help people who are keen to set up their own salon companies.
Ms. Chan, 44, graduated with a bachelor’s degree from San Francisco State University in 1996 and labored in vending and branding for several years earlier than beginning Parlour Group in 2005 with $250,000.
Her hubby Derrick Seeto, forty-four, is her companion in Parlour Group and that they have 4 youngsters elderly four, 15, 17 and 19. The 3 older youngsters are from her first marriage.
Formerly an Australian, Mr. Seeto has become a Singaporean in 2013. He is president and franchise director of the Parlour Group.
Q Moneywise, what have been your growing-up years like?
An I grew up in a modest circle of relatives and lived with my dad and mom – who were civil servants – and 3 siblings in an HDB flat. My dad and mom taught us to take a look at tough, discover a precise process and no longer to take risks.
We had been usually taught the significance of saving for larger, vital such things as a roof over your head and a very good schooling. Holidays have been an actual luxurious and I did now not get on an aircraft until I was 14.
My mother and father have been no longer properly off however labored and saved difficult to put anybody thru college, with two people pursuing distant places stages in California and Manchester. They were also the best individuals who believed in me once I began my enterprise and loaned me cash at some point of the start-up phase. I have repaid them typically over, so I wager it become correct investment on their element!
Q HOW DID YOU GET INTERESTED IN INVESTING?
A To be honest, I became added up in a very “safe” surroundings wherein any form of investment outside of belongings, insurance and stuck deposits become taken into consideration too unstable. It turned into my husband who introduced me to unit trusts.
Outside of monetary investments, I make investments, particularly in people and training. It is essential to hold mastering and innovating. I attend guides often, say two a month, to be aware of the changing panorama and to examine methods to run the enterprise.
Q DESCRIBE YOUR INVESTING STRATEGY.
An I do no longer spend money on shares. These days, I look out for start-u.S.And abilities with drive and invest with them in their commercial enterprise at the same time as giving them advice and business know-how.
We are searching for growing one as a long-time period investment earnings and the opposite exiting though list inside the United States.
Q WHAT’S IN YOUR PORTFOLIO?
An A massive part of my investment is in residences right here and overseas. My hubby and I very own 3 homes in Singapore, three apartments in different parts of Asia and three parcels of land in Papua New Guinea (PNG).
The parcels of land had been offered as a funding below our business enterprise and my husband’s father in East New Britain Island. His family has lived there all their life. We plan on constructing a destination spa and resort in the destiny. Other plots are for land banking.
Some of the houses are absolutely paid up and the relaxation is financed through financial institution loans. Except for our domestic here, the rest are being rented out whilst one can be completed in March next year.
In Singapore, we’ve got an office at Novelty BizCentre and a freehold penthouse in Pasir Ris.
The average annual apartment returns for assets average five in keeping with the cent to 6 percent. My foreign property return – which is our recognition – is a whole lot better for the ultimate four years, compared with that of Singapore.
A small portion of my portfolio is in unit trusts and bonds. Unit consider returns are around 7 in line with cent at the same time as bonds is a low 2.2 in step with cent, however, I am doing this just to position some more money aside with less hazard. Most of our investments are in South-east Asian price range like Schroder Southeast Asia Fund.
Q WHAT ARE YOUR IMMEDIATE INVESTMENT PLANS?
An I will continue to put money into instructing myself. Today’s ever-converting commercial enterprise environment requires us to continuously check out restructuring and endured innovations.
My immediate investment might be inside the increase of my enterprise. We are operating on restructuring our business portfolio to collect other bodily salons, beautify generation and different virtual property.
We are in the midst of finishing our state-of-the-art digital undertaking, on the way to be launched in 2018. It will no longer handiest trade the way we run our business however how our industry can function in widespread.
My modern-day mission is beginning our tanning franchise below liquidsunrayz.Asia, the leading opposition tanners (for frame building and body competitions) in South-east Asia, and fiercesquared.Com, which dabbles in online swim and motel wear for the united states market.
We also are launching an interesting new app for our industry in order to address the issues of cannibalism and the current-loss making enterprise fashions contemporary providers provide. We understand the struggles of trendy salon commercial enterprise and we hope to deal with them while supplying the price-delivered guide they want.
Q HOW ARE YOU PLANNING FOR RETIREMENT?
A During my closing pregnancy and after the delivery of my youngest son, each my husband and I have been semi-retired for an amazing three years. We were traveling a lot to places to revel in distinctive cultures and food.