JENNIFER MICHAELS HAIR STUDIO NAMED ONE OF NATION'S FASTEST GROWING SALONS BY SALON TODAY MAGAZINE FOR THE SECOND YEAR IN A ROW

LINCOLNSHIRE, IL – Barrington’s Jennifer Michaels Hair Studio, owned by Jennifer and Michael Casavant, recently was named one of the 200 fastest-growing salons for the second year in a row by Salon Today magazine, a top business publication for the professional beauty industry.

The magazine’s ninth annual Salon Today 200 issue profiled the selected salons. The 200 salons were selected from applications submitted by Salon Today readers, who represent the 25,000 top-producing salons in the country.

The Salon Today 200 owners are creative, marketing-savvy business owners who posted impressive statistics in a competitive market,” said Laurel Smoke, editor of Salon Today. “These salons—big and small—used creative promotions, tight budgeting and finely honed business skills to stay on top and improve their salons.”

For a salon to be named to the Salon Today 200, it had to meet the following criteria:

• The salon is a provider of professional salon services including one, or more, of the following: hair care, nail care, skin care, body care or spa treatments;
• It generated gross annual sales revenues of at least $100,000;
• The salon’s revenues were greater in 2005 than 2004, and projected to be even higher in 2006;
• The owner charted his or her business financial growth for the past three years and shared information about the service and product categories that fueled the salon’s growth;
• The applicant submitted financial documentation, such as a tax return or certified letter from an accountant, to verify revenues.

Growth-oriented salons of every type and size participated and were showcased in the issue. To help the magazine’s readers benchmark their own businesses against the honorees, the Salon Today 200 coverage was broken down into four revenue categories: 44 salons were profiled in the $100,000 to $500,000 category; 71 were profiled in the $500,000 to $1 million category; 54 were profiled in the $1 million to $2 million category; and 31 in the $2 million-plus category. Each salon competed for a spot in the 200 against other businesses in the same revenue category.