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Facing Success Creating a Multi-Million Dollar Business During Tough Economic Times von Murrow, Kristy (eBook)

  • Erscheinungsdatum: 05.01.2016
  • Verlag: Mariposa MedSpa
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Facing Success

It was 2009 and the country was caught up in a devastating economic downturn. Four savvy professionals with many successful businesses decided to take a risk and venture into an industry new to them. Unfortunately, all did not progress as hoped. Nonetheless, Kristy Murrow, a physician assistant, ex-school teacher and soldier bravely took over management as managing partner of Mariposa Medspa, the enterprise that had only been in operation for 18 months and had never made a profit. Before she could do so, however, she had to convince the owners to give her six months to turn things around instead of closing immediately as they'd planned. Her gamble, and efforts, paid off. In less than four years Mariposa was making millions annually.


    Format: ePUB
    Kopierschutz: none
    Seitenzahl: 200
    Erscheinungsdatum: 05.01.2016
    Sprache: Englisch
    ISBN: 9781483562858
    Verlag: Mariposa MedSpa
    Größe: 290kBytes
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Facing Success

ONTO MARIPOSA A Going-Out-of-Business letter was my introduction to Mariposa Medspa. Its owners were offering the chance to purchase some of the facility's assets and fixtures at a fraction of their value and original cost. Looking back, the timing couldn't have been better. I'd spent the past year creating an aesthetics practice from the ground up. But, I'd just learned the partnership I'd originally been offered in that business wasn't going to materialize as promised. So, I'd already decided it was time to look for other employment. Then I received the letter. Did I immediately recognize the potential and serendipity? Heck, no. I just thought it would be worth seeing if there were any major bargains that would be of benefit to the practice I was then overseeing. So, I met with Mariposa's doctor. He gave me a tour of the facilities and answered my questions about the practice and its operations. Later, I called that physician back to let him know I wouldn't be purchasing any of their equipment. He surprised me. Despite my lack of interest in what they were selling, he asked me to come back and meet with him a second time. Intrigued, I agreed. An Unexpected Offer For that meeting, the doctor met me at the door to his office. We shook hands and I'd barely had a chance to take a seat in front of his desk when he asked, "Would you be interested in buying Mariposa?" My eyebrows shot up and I cocked my head, not certain I'd heard him correctly. It took me several seconds to process what he'd said. Finally, after asking him specifics about the deal he was proposing, I said I'd need to think things over and would get back to him with my answer. I have no recollection of how I made it back to my car. My mind was already processing the situation and weighing my options. Looking at the operation, the equipment and the financial situation-of both the business and my family-I knew I didn't have the kind of investment capital needed to do the deal. When I told my husband, Jeff, about the offer, he agreed it was an incredible opportunity. But he concurred with me about our not being in a position to make such an investment at that time. As supportive as Jeff was, is and always has been of everything I take on, we were both very much aware of our economic reality. Certainly, we were a financially stable and comfortable family of four. But with two children-my son, Corbin, then age 14, and my daughter, Marissa, then 7-and all the usual expenses that go with having a home and family, well...Let's just say we definitely didn't have the capital to purchase the business. And I had no clue how to locate or recruit an investor. Although I'd spent a couple of years researching, launching and running another aesthetics practice, I wasn't sure that provided enough of a track record to convince an investor to put up the kind of funds it would take to purchase Mariposa. So, while it broke my heart to do so, I turned down the opportunity to buy the medical spa. Everything in me cried out that this was the deal of a lifetime... the deal of my lifetime, anyway. But, I just couldn't think of a way to come up with the money. I Develop a Plan Although I knew I was in no position to purchase Mariposa, I couldn't stop thinking about the business and the opportunity it offered. Everything about it was such a custom fit for me. During my time at the first medical spa, where I'd worked as a physician assistant while building the cosmetic practice, I'd learned something very important about myself. Without question, the aesthetics industry was where I belonged. It was the work I wanted to spend my life doing. Over the

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