Sola Salons

After nearly two decades in capital markets,&nbsp;<a href="https://www.linkedin.com/in/karl-baumert/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-wall-street-pro-2730977" target="_blank" rel="nofollow">Karl Baumert</a> was looking for a new challenge. As an “intellectually curious” person, Baumert felt his learning trajectory was plateauing. Though he explored a few different options for a pivot and had several compelling conversations, he was consistently drawn back to the idea of entrepreneurship.Coming from a family of small business owners and having grown up on a farm, Baumert wanted to return to those roots, but he approached the venture with the rigor of an experienced investor. He needed a business with high leverage and low operational drag, and he found his match in&nbsp;<a href="https://www.solafranchising.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-wall-street-pro-2730977" target="_blank" rel="nofollow">Sola Salons</a>, the national salon suites franchise.“There were three pillars of the decision,” he said. “Scalability without having to churn lots of employees, the mission, and then the fact that it’s a business that just makes sense. Beauty professionals are artists, and they’re amazing at what they do, but it’s a big undertaking to open your own salon. To be able to aggregate many of the costs of operating a beauty facility and provide a salon space at a lower cost than a beauty professional would be able to access themselves… It’s a business that makes a lot of sense to me, intuitively.”&nbsp;<h2>Discovering Sola Salons’ Key Differentiators</h2>Baumert’s intuition was backed by a rigorous due diligence process. He analyzed several franchise concepts, but when the franchisor focused more on the franchisee rather than the customer or client, the pitch fell short.&nbsp;<a href="https://1851franchise.com/sola-salons/info">Sola</a> stood out thanks to the distinct position of its leadership team and the strategy that drives the long-term success of the brand.“I saw what I believed then and still believe now to be the best brand in the space,” he said. “In looking at competitors, they were very focused on helping me be successful. The beauty professional being at the core of Sola’s mission stuck out to me as differentiated.”After checking this box, Baumert&nbsp;then began to consider how Sola could check boxes for him, specifically. It’s a strong business model, but it also allows for a sense of personal fulfillment.“I felt like I was fostering entrepreneurship, and that seemed like a great way to invest capital,” he said. “You’re investing capital in a way that allows other people, who are service professionals, to [also] become business owners. Lowering that barrier to entry [for them] felt like a really important mission and is part of the reason why I find Sola very satisfying today.”<h2>A Network of High-Performing Franchisees</h2>While the business model and mission drew him in at first, Baumert discovered another key advantage once he joined the system: the quality of his fellow owners. He had worked alongside high performers at firms like Goldman Sachs and Lehman Brothers, but the Sola network impressed him in a different way.“I tell people that the typical franchisee at Sola is several grades above the typical employee at Goldman Sachs,” he said. “They’re real operators who own, in many cases, dozens of businesses.”Additionally, the network functions more like a group of peers pushing for shared success than a group of competitors. The culture encourages owners to share expertise freely, and support from fellow owners is immediate and tangible.“The franchisee is supported in absolutely any way they need by the franchisor, and there are good processes to ensure that’s the case,” Baumert said. “The network of franchisees also has dozens of people who are at your fingertips, and we have forums where we can ask questions. If I put something out to that forum, my phone will ring, often in under a minute. Being able to share our experiences is something that feels really cultural, and that probably started at the top with the culture the franchisor has developed.”<h2>Scaling Sola Salons in New York City</h2>With a validated model and strong support network, Baumert moved quickly to grow. Though he originally acquired an existing location to “get in the game,” he also began developing his first ground-up location in the market, and the response exceeded his expectations.Now, Baumert is focused on aggressive, long-term growth. He holds rights to develop seven total units in his market and is actively looking to maximize his footprint, keeping his sights on success and scalability as a multi-unit owner.While the financial growth of the business, as it benefits Baumert, is certainly a perk, scaling his impact continues to be his guiding principle.“Seeing the satisfaction that the beauty professional gets when they move in … I’m sure many people have some level of apprehension about that, then, inevitably, their clients come and are proud of them and love their suite,” he said. “Seeing that wave of excitement and joy from the beauty professional when they open is really one of the best parts of the job.”To find out more information on costs to buy this franchise, please visit&nbsp;<a href="https://1851franchise.com/sola-salons">https://1851franchise.com/sola-salons.</a>&nbsp;

Design with Karl Baumert headshot and photo of Sola Salons space

Why a Wall Street Pro Chose a Sola Salons Franchise

1851 Franchise

After nearly two decades at Goldman Sachs and Lehman Brothers, Karl Baumert chose to invest in the salon suites franchise thanks to its scalability, supportive network and purpose-driven model.

This brand page has been paid for by SOLA SALONS. Content within this page that is paid will showcase a Sponsored icon. This means the brand has engaged 1851 FRANCHISE to write the content. Content without the Sponsored Icon is aggregated media placements the brand earned. Questions can be sent to editorial@1851franchise.com

Why a Wall Street Pro Chose Sola Salons Over Traditional Investments

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