Hair ID (Your Finances)
‘Inspira helped us to form our company in 2006 and to buy out a hairdressing business for which we both worked. They have worked with us to manage our finances on a daily basis since then,’ says Sheena Love, co-owner of Middlesex-based hair salon Hair ID.
‘We would have a tough time managing the business without Sue Higgins and her team at Inspira, including Jeanie and Angela. Together, they manage all our finances, from banking and payments, to our complex, commission-based payroll. They also produce our monthly management accounts and they produce year end reports for our accountants. My business partner, Alex and I also schedule regular time with Sue to discuss cashflow and budgets. We are currently planning a full refurbishment of our salon and Inspira is helping us to plan the costings appropriately.’
Sheena and Alex believe the benefits of outsourcing their finances to Inspira are significant; they are saving costs and time, allowing them to focus on their skills and grow the business using their client-facing talent. ‘With Sue and her team managing our finances, I am confident that this part of the business will be taken care of effectively and I can really rely on Inspira to take ownership as if we were their own operation.’ Space is an issue to consider too; ‘thankfully, Inspira do not require office space on our premises and they work efficiently from their offices, contacting us as necessary via phone and email.’
‘We have faced some challenges as every business does, for example when Alex went on maternity leave last year, we turned to Sue for additional business support and advice, to ensure we covered every aspect correctly. The recession hit us quite hard too, but Inspira provided detailed cashflow management reports to enable us to push through to the other side.’ As Hair ID has grown, Inspira’s role has evolved, one example being that Sheena and Alex are responsible for less data entry than in the early days. The Hair ID directors have a positive relationship with Inspira, based on mutual respect and trust that each party does their job to the best of their ability.
Inspira’s input is invaluable and we know that they understand our business as well as we do. They are a true part of our team, without the flair for hairstyling of course! Sheena Love, Director of Hair ID
