For two decades, Liz Starbuck honed her craft as a stylist at Great Clips, mastering the art of haircutting and salon operations. She attended cosmetology school while still in high school, and earned her license at 18. Liz gained extensive experience in various roles, including stylist, assistant manager, manager and general manager. When the opportunity arose to purchase four Great Clips franchise locations in Clarkston, Lake Orion and Oxford, Liz knew it was a chance she couldn’t pass up.  

While her operational knowledge was extensive, Liz recognized a significant hurdle: her lack of experience in business ownership, accounting and finance. “To get from employee to owner was a daunting path,” Liz said. “I still remember the first time I looked at a profit and loss sheet. It was like deciphering Morse code; a painfully slow process. I knew I needed help”.

After an online search, Liz connected with the Michigan SBDC and began working with Business Growth Consultant Julie Oldham. Julie assisted Liz in determining the true value of the company, especially understanding “goodwill” as a non-physical asset. She also helped with financial projections and strongly encouraged Liz to budget in a salary for herself, emphasizing the importance of recognizing her own value. Ultimately Liz secured significant funding to purchase the four salons, retaining 38 employees.

“Working with Julie was a huge part of my success,” Liz said. “I immediately appreciated her candor, which gave clarity and direction. Julie wasn’t afraid to challenge my assumptions! Alongside her challenges came encouragement. I really think the human element was the most important factor for me. The Michigan SBDC website has every resource you could ever need, but what I needed was a guide. Julie guided my dreams to reality.”

Julie enjoyed working with Liz, whose strong leadership and ability to manage teams and optimize salon performance made her a standout in the industry—widely respected for her business savvy and operational finesse. Liz’s clear grasp of the information and her commitment to understanding the extensive work required to purchase the salons made the collaboration both productive and rewarding.

Liz shared advice for other entrepreneurs: “Just do all your homework. Do all your research. Leave no stone unturned. Try to figure everything out.” She also emphasized the importance of taking the leap despite fear. “Do it, even though you’re afraid. Take the opportunity, do it. Don’t worry, don’t be afraid. Just do it, anyway.” Liz acknowledged that no one in her family owned businesses, making this a significant and sometimes frightening step outside her comfort zone. However, talking to other Great Clips owners who had made similar transitions provided valuable reassurance.

Currently, Liz’s Great Clips locations are among the most successful in the Detroit market, often ranking near the highest in weekly customer counts. She believes her focus on employee satisfaction contributes to this success. “As an owner, your focus is your employees… I’m really focused on the employees – we’re all succeeding together, and everything needs to be a win-win situation,” Liz explained. Her exceptional managerial leadership, paired with a deep understanding of the business, has helped cultivate a thriving workplace culture and lasting success.