Earlier this year, salon software company Phorest announced the launch of their Phorest Growth Fund, which was created to celebrate the brand’s recent refresh and to give back to the industries, communities and salons it serves.
“We established the Phorest Growth Fund to give back to the community that has given us so much,” says Ronan Perceval, CEO of Phorest. “From our own research, we know that for 42 per cent of salons getting established, business planning and managing the financials of their businesses were the biggest challenges they faced, while 24 per cent struggled with getting appropriate loans or funding. We’ve taken the next step in our growth journey with a new look and feel for 2022 and beyond; we want to help salons reach their next steps through The Phorest Growth Fund.”
To support the Phorest Growth Fund, the company will deposit $250,000 into a fund that will be available to Phorest salon and spa businesses worldwide and will be distributed on a case-by-case basis to businesses that need a financial stepping-stone to facilitate the next phase of their growth.
Since 2004, Phorest has been supporting salon and spa owners with a software solution of sophisticated marketing and reporting tools that enable businesses to engage, grow and retain clients.
“Phorest was literally born on the salon floor—we know what it’s like to be at the heart of a business that is striving for excellence,” says Perceval. “We are also acutely aware of the challenges facing the industry when it comes to growing that business.”
The Phorest Growth fund is available to any Phorest Salon or spa worldwide, and is overseen by an independent panel of industry experts and financial consultants.
Applications for the Phorest Growth Fund are open until May 1st. For more details and to apply, click here.