When it was announced by the university a new salon would fill the space left by Abilene Educational Supply, ACU students were sent into a tizzy.
The announcement came only a few months after the university revealed its plan to cut the budget and therefore reduce the number of faculty and staff positions. Because the intentions to open a salon were announced after the budget cuts, students became confused about the priorities of the university.
However, four months after Pura Vida opened its doors, the salon has done nothing but benefit its customers and the university.
When the salon was first opened, what many people failed to remember was that the business would be able to generate revenue for the university. Pura Vida opened its doors in July and immediately began making a significant profit from the first day.
Anthony Williams, chief axillary services officer, said Pura Vida will be able to pay back the investment that was made in the salon within the next 30 months. He said at the end of about 30 months, the amount of profit will exceed the capital investment of the salon.
Williams also said the university has already seen benefits from the salon during this fiscal year. After the debt on the salon is paid off it will continue to be a money-producing entity for the university.
But what will happen to the money the university receives from Pura Vida? Williams said the money that goes back to the university will end up in a general fund to be used as administration sees fit.
Another thing to take into consideration is the quality of the work done at Pura Vida. Williams said several of the employees gave up their own successful businesses to come work for the university at Pura Vida. By doing so they brought their own clientele to the new location. He said the hair stylists are 82 percent booked already.
Pura Vida has used several tactics to increase its success including special offers on products andÂ student discounts. During the month of October it donated a portion of its proceeds to breast cancer research.
Although the university could have planned the introduction of the salon a little better, the ingenuity behind the salon and good financial decisions will make it even more successful. Though many people wrote it off immediately, we now have faith that Pura Vida will stay successful, keep its customers happy and continue to make a legacy for itself.