Ex-VP van Sherwin-Williams owns Image Studios-Franchise

Lonnie McGowen is an accomplished entrepreneur and manager with a rich background in business and leadership. His career started at Sherwin-Williams, the largest coating company in the world through income, in an entry role.

The dedication, vision and leadership of McGowen saw him rise by nine or 10 promotions to become the first African male vice president of the company. After decades of business success, McGowen and his wife decided to fulfill their shared dream to possess a company.

Together they decided to pursue ownership Image studiosA crowned franchise brand and the most important leader in modern and luxurious Salon Suites. Black undertaking Connected to McGowen to find out more about his journey to franchise ownership and what he describes as “out-of-the-box” business strategies that help stimulate his success.

Black undertaking: What was your decision-making process in making the leap from a successful career to franchise ownership?

Lonnie McGowen: It was a mutual decision about both parts. At Sherwin-Williams I worked 70 to 80 hours a week, always in a plane or travel. I was busy with sunset. One day my wife said, “I never see you. You are always gone.”

Then I started to think about franchising so that I could be my own boss. Then a new leadership team arrived at Sherwin-Williams and started making many changes. This made it easier to leave, and although I could have become a VP elsewhere, it would simply lead to the same challenges that I already had with a balance between work and private life.

When I left Sherwin-Williams in December 2019, my first thought was that we would turn houses for a living. We started in February 2020, but then Covid beat us out of that train. I had to reconsider things. The idea of ​​Franchising again dived into my head, so we found a franchise broker through a friend. This broker introduced us to Image Studios.

ARE: Why did you decide to go with the franchise of the Image Studios?

McGowen: The business team was an important decisive factor. They were fantastic – so supportive and experienced. The founding story resonated with me, because the company was born out of the home crisis in the 2000s. We signed and opened our franchise agreement in August 2020 in November 2021. Signing During the Pandemie it was reassuring that this company could withstand the economic decline. We even learned that Dallas was an important hub for beauty brands, which was home to Mary Kay, Ulta and Sally Beauty Supply. Image was the perfect fit for the Dallas market. We knew that we could fill our spaces with beauty professionals.

But of course their absent model was attractive, from a role in which I worked 70-80 hours a week. Now I can work on the company 5-10 hours a week if I want. I have so much more free time in my hands and can take more vacations with my family. Moreover, Image Studios can be paid about the same as with Sherwin-Williams.

BE: Image Studios is a pretty steep investment. How did you secure financing?

Mcgoen: In the beginning I had trouble getting financing. $ 1.2 million is a lot of money to get a business off the ground. When I spoke with investors and general contractors, I opened about my story and spoke to their hearts, and luckily I got a ‘yes’. I come from a background where many of my friends have not taken it from our neighborhood. It is important to tell your story, go back to your roots and to show people that you can get it out of your circumstances.

My general contractor is still working with me now and is doing our second image studios location. Always be honest and open about your trip! You will find people who really believe in you and your mission.

ARE: What are the biggest changes in your lifestyle since he becomes a franchise owner?

McGowen: The first change is to have more freedom. Working from 70-80 hours a week to 5-10 hours a week is incredible. This allows me to spend more time building relationships outside the company.

My health has also been drastically improved. I have less stress and more time to go to the gym and concentrate on personal well -being.

It is also worth helping other business owners. We have 30 beauty problems within our image studios that can all grow their business. I love to promote the entrepreneurial journey of these beauty professionals.

One of the most important challenges, however, is that entrepreneurship is 24/7, even if I don’t work physically in the industry. Everything can happen at any time and the goat stops with you. You must be a kind of chameleon and know all aspects of the business world to solve problems. It is a huge responsibility!

ARE: You have four out-of-the-box business strategies for your franchiseInnovative recruitment practices” Community Impact & Philanthropy“ Entrepreneurs empower“ and relationship -oriented leadership. Of the four, what have you found the most valuable?

McGowen: I would say on relationship -oriented leadership. I try to relate best to my beauty professional. Their success is my success. When someone signs a minimal lease with us, we go through every occasion we can do to ensure that their business stays and thrives. People stay with companies with which they feel connected. I try to appear every day to walk around and get to know my beauty professionals. These professionals are more than just a number – invest in it.

As a result, we have had a retention percentage of 65%, which means that 65% of those professionals who signed with us in 2021 still work with us.

I am also very proud of our philanthropic efforts. It feels good to give back to the communities that we serve. An example of this is Hope’s door, a hiding place for battered and abused women. At our image studios we give the women of Hope’s door Free make -overs, including hairstyles, makeup and beyond. These women, who have experienced so much, leave our studios the feeling of new people with a renewed sense of trust. It’s not just about vanity – think of how great you feel after a new hairstyle or eruption. These women need that pick-me-up.

ARE: What are the top three advice that you would give to an old manager who is considering leaving their position and investing in a franchise?

Mcgoen:

• Follow your passion. I know that sounds like a cliché. I have to notice that my passion is not beauty – they are people. I don’t have any hair on my head! It is the relationships in the beauty industry that I really like.
• Monetize your passion. Enough said … find what you love and then find out how you can earn that money.
• Count the costs before you do business. The main reason why small companies fail is that they no longer have money. Have many investors or ways to support your company, especially in the beginning.

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