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Read the case study and answer the following questions: Melanie Graham bought Kutters Hairstyling. an upscale hair salon in Whitehorse, Yukon. 10 years ago after
Read the case study and answer the following questions: Melanie Graham bought Kutters Hairstyling. an upscale hair salon in Whitehorse, Yukon. 10 years ago after working there as an employee for seven vears. Melanie started working for Kutters part-time when she was 13 years old. To buy the business, she was able to secure a bank toan, and since that time the salon has expanded from the original 3 employees to 12. It has also expanded the range of services that it offers. which now include aesthetics, tanning, and massage. The change in ownership went smoothly, with all the former employees remaining with the business. At the time of the buyout, the agreement included a provision for the original owner to work in the salon on a "chair rental" basis, keeping her fees and clientele but paying Melanie for the space and services. The other stylists (and all the new hires since then) have worked as employees on a commission basis. This arrangenent makes it more conducive for Melanie to invest in the training of her team. Mulanie emphasizes training not only to keep her staff on the cutting edge of hair fashion but also as a team-building activity. Melanie has been known to take her employees on a training cruise. combining a holiday perk with professional development. Recently, Kutters moved to new premises in the heart of duwn town Whitehorse: Melanie formed a partnership with her brother to buy the builting. which is kasedto the saion. The site is ideal for maximum peciestrian trallic and visibility ane will allow for future expansion. Melanie Graham's advice to new entreprencus is te roaly tiy to learn finance Even if it's a simple business, and even if you heve a bookkeqper o: acteunting: 1. According to the definition of an entreprencur, is Melanie Craham an ent repreneur. ever though she bought an existing business? Why or why not? (1hink about the
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