Chad Franzen 11:24
So beyond that, what does it what does it take to you know, invest in a Bishops?
Leigh Feldman 11:31
Yeah, on the low end, depending upon market, you’re looking at around $278,000. And on the high end, you’re looking at around 489. The biggest difference is that we as a franchise network, don’t necessarily provide a shop in a box might like most franchise locations, we allow you to customise it and pick the things that makes sense for you and your market, the look and feel that you want to create for your area. So you see quite a big swing on the build out based on what you select for what you want in your store. So that’s the discrepancy that you see from the 287 to the 489.
Chad Franzen 12:03
Is there has ever been a time where Bishops has demonstrated a commitment to inclusivity. And maybe even like sacrificed its own its own on its own business end to do so Oh,
Leigh Feldman 12:15
I don’t know about sacrificing on their own business. And but inclusivity is part of our core ethos, you know, we are a hair shop for all accepting convenient, and really now at this point ahead of trends. And that accepting piece is so pertinent to who we are and the customers that we serve, we have locations in the south, where clients have driven eight plus hours, while in the middle of their transition to get their first haircut after transitioning, knowing that we are listed and registered as a safe space. So that inclusivity that piece as far as acceptance, and knowing that everyone is welcome. Again, we say we are tolerant unless you are intolerant, people really know that they can find a Bishops said no again. But that’s a safe place where they can go for any type of service that they might want. We’re
Chad Franzen 12:58
headed towards the end of the calendar year 2023. How is Bishops evolved during the past year?
Leigh Feldman 13:04
Yeah, I mean, we went through our acquisition with private equity. So now we are in full support mode for the current stores in our system, increasing top-line revenue, a UVs, looking at new vendors to bring in that have greater margins and superior product for next year. And then obviously we’re expanding we’re heavily invested in our franchise sales development groups, working with certain networks to make sure that we bring in owners that we know understand the Bishops ethos and award them territory licences and markets that make sense for our Bishops location to exist.
Chad Franzen 13:34
How do you and how does Bishops view kind of the future of the hair cut industry?
Leigh Feldman 13:38
Oh, it is right now and $86 billion industry and just growing. So I think most people are going to continue to choose the sort of community-minded artists driven energetic space over those value chain chop shops salons, that you see that pop up that really have no brand, no identity, outside of what you see on the TV commercial promoting them. Bishops is really one where you create something specific to your market, you build people and teams that are local to your area. And you really support those in your community by creating a fun environment. Everyone always talks about the value of an experience and Bishops is certainly a place that provides that. I think that’s why people will continue to choose US versus other places that you might call sterile.
Chad Franzen 14:21
Tell me a little bit a little bit more about the artists driven environment. Where do you guys kind of kind of get the art what role does that art play more specifically?
Leigh Feldman 14:31
Oh the art creates the sort of vibe as you said earlier, the environment to the space so much so. So we partner with local muralist to build out murals within each shop location. We have a partnership with a national ad magazine called Juxtapoz magazine that assists with finding artists in markets. And then the owners get to select from sketches and drawings and sort of award the opportunity to design and paint and instal the mural or art in the space.
Chad Franzen 14:56
So you and you talked about how some custom versus have travelled eight hours to come and have their hair come and have their, you know, receive your services there at Bishops. How do you guys kind of get the word out to those people, it must be quite quite the experience that they’re willing to do to do that to drive eight hours.
Leigh Feldman 15:17
Yeah, there’s certainly some groups that we work with to make sure that we’re registered on Safe Space sites, so that people from marginalised communities can find places that they know they can go and trust to not be judged, or in sadly, some severe cases not be physically harmed for going in and requesting certain things based on how they identify. So we work with those registry groups to make sure that they know that every Bishops is a place for anyone to come to and that all are welcomed.
Chad Franzen 15:42
Is there something that you guys do to maintain that nonjudgmental environment?
Leigh Feldman 15:46
It’s a major part of our training. I mean, we immediately suggest to store owners to cut anybody from the team that does not understand the core values of who we are and who we serve.
Chad Franzen 15:57
So let’s say you, you have a very you have, you’ve just hired a very talented and incredibly talented stylist, but they don’t really fit the values. What’s the next step that’s taken?
Leigh Feldman 16:10
Well, I think it’s a question of that individual. Are they open to sort of becoming more accepting of people in the lifestyle that they choose? Or is it something where they say this is who I am, and this is how I’m going to be forever and even being exposed to different people with different backgrounds, different nationalities, different religions, different sexual orientations? If that would open their mind up to realising that people are people. And if they say I am judging these people in the way that they live, they are not welcome at as part of our team.
Chad Franzen 16:40
Okay, sounds good. Is there anything that I haven’t asked you about Bishops that you’d like to share? No,
Leigh Feldman 16:45
I think we’re looking for tonnes of new people to expand Bishops and states we are in currently in states we are not. And so we are always welcome to the conversation of somebody who wants to work with creatives and create a space in their community where people can gather and really experience fun art youthful energy and get people walking out the door, feeling the best the best they ever have about themselves in the way they look.
Chad Franzen 17:09
Sounds great. How can people find out more about Bishops? You know, either as a customer or a potential franchisee?
Leigh Feldman 17:16
Yeah, I hope people visit us online. www.bishops.co. That’s bi s h o p s.co. So www.bishops.co.
Chad Franzen 17:29
Okay. Hey, Leigh, it’s been great to talk to you. Great to find out more about bishops. Thank you so much for your time today. Really appreciate.
Leigh Feldman 17:35
Well, thank you, Chad. I really appreciate you having me. on everybody.
Outro 17:39
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