Owners Meeting

Liu Boyu had concerns about there being additional salons in the same plaza as Escondido. I explained the different types of clients that go to the salons.

September balance sheet says the supplies purchase is 18k. That's really high. Answer: More than likely it is an inventory adjustment. Todd is making period adjustments to inventory because they don't adjust it each month. So you're seeing several months of usage showing up in one 'adjustment'. We don't really like the way it is being represented in the P&L as an expense, it should (I think) just remain on the balance sheet. This is something Maria (Financial Controller) and Todd (Accountant/Bookkeeper) are working on.

He wants to know how much additional capital is needed. Send him the plan next week after meeting with Maria.

Email - liu.boyu@hotmail.com
Cell - 619-764-1569

Comments (2)

  1. Sabrina Wall :

    Scheduling a meeting tomorrow to go over the findings report.

  2. Sabrina Wall :

    Had meeting with Liu Boyu. He asked questions about the marketing. He said he pays more for a service because he wants a good cut. He asked how we are changing the perception of quality. He said he wanted us to hire experienced stylist. I explained that our goals are to hire with a minimum of 2 years experience. We explained the new marketing plan and the changes we are making to the messaging to staff and from staff to clients.

    He asked about the new marketing plan. He also asked about how he will be paid back if he puts in more money. We discussed a short term loan or at the end of the term. He asked about the royalties/RAF/NAF fees. We explained that we can’t do anything with the fees. We can make payment terms for the royalties but they still have to be paid.

    He is going to go to his family to get additional funds and will get back to us within a week.

Leave a Reply