PK Walsh
Company: PK Walsh, Needham, MA USA
Company Description: Founded in 1983, PK Walsh is New England's leading hair replacement and restoration salon exclusively for women, a pioneer in providing non-surgical hair replacement options for women with all types of hair loss. The family business is run by Nikki Walsh, who is committed to using the best technology and hair to create a look for clients that is completely natural and undetectable.
Nomination Category: Company/Organization Categories
Nomination Sub Category: Best Overall Company of the Year – Service Businesses – up to 100 Employees
Nomination Title: PK Walsh - Growing Business, Giving Back
Describe for the judges the activities and accomplishments of the nominated company during the eligibility period (up to 500 words):
PK Walsh enjoyed significant business success this year. While many
companies continue to struggle, especially in the beauty industry, PK Walsh’s
revenues held steady for the second straight year.
PK Walsh President Nikki Walsh ran the salon with exceptional leadership while
facing her own medical battle, which took her out of work for three months. In
April, Nikki underwent a major surgery – her 22nd in 10 years – that has finally
given her hope of living a normal, active life with Crohn’s disease. She planned
successfully for her absence and returned to work earlier than expected, to a
thriving salon.
Here are some of the things that PK Walsh accomplished this year:
• Nikki’s mom, PK Walsh co-founder Kathy Walsh, came out of retirement during
Nikki’s recuperation period to run the salon and maintain the momentum that Nikki
and her staff had built in the previous months. This provided stability and
confidence in PK Walsh during an uncertain time.
• Throughout the recent recession, PK Walsh committed to keeping all staff on the
payroll if at all possible, and through Nikki’s leadership, they were able to do
just that. Nikki asked her staff to reduce their hours so that layoffs could be avoided.
Her loyal team agreed and everyone stayed on the payroll.
• Before her surgery, Nikki traveled the country to visit her top product
suppliers. She was able to negotiate better pricing and even better products from every
supplier, and she passed these savings and benefits directly to her clients. Nikki
credits this one campaign for bringing enough old clients back to carry PK Walsh
through the three months she was recuperating. Clients she had not seen for 10
years returned to the salon for services.
• PK Walsh introduced a Partners in Appearance™ referral program that focused
on reaching out in a personal, customized way to three sets of referral sources –
hairdressers, physicians and current clients – and incenting them to engage with
PK Walsh. Hairdressers and current clients were offered financial incentives for
each client they referred. Doctors and salons were offered an educational staff
program about the latest solutions for all types of hair loss.
• PK Walsh executed several successful direct mail marketing campaigns to
current clients that succeeded in generating an additional $45,000 in revenue over
the same period last year. These included:
- personal letters and a $200 welcome gift certificate to prospects who (1)
inquired about services on the company website but did not buy and (2) visited the salon
but did not buy. Follow up to these letters included a handwritten note from PK
Walsh
- postcard campaign to clients with a $500 off Follea™ hair purchase
- scratch ticket campaign where clients had a chance to win $1,000 off a service
• PK Walsh and its clients contributed significantly to The Playing for Life
Foundation™, a new nonprofit organization started by the Walsh family to help
children and their families suffering with Crohn’s disease or through education and
financial support.
List the URLs (web addresses) of any online news stories, press releases, or other documents that you would like the judges to see that support your entry. IMPORTANT: List each URL on a separate line, begin each URL with http://, and enclose each URL in square brackets. For example, [http://www.yourcompany.com/pressrelease.html]:
http://www.pkwalsh.com/index.html
Provide a brief biography of the person or persons who lead the nominated company (up to 100 words):
Nikki Walsh joined PK Walsh in 1993 at the age of 24. Having experienced hair
loss personally, Nikki has brought a compassion and empathy to her role at the
firm her mother and aunt founded in 1983. Like her mother, Nikki is deeply
committed to the business, to her family and to the community.
Nikki serves on the Board of Directors of Transitions International, a marketing
group comprised of the world’s most renowned hair replacement companies. She
also serves as a member of the Northeastern Center for Family Business.
In a demonstration of Nikki’s compassion and commitment to support those who
are suffering through physical and emotional challenges, Nikki is extremely active
in the Chrohn’s and Colitis arena. An ulcerative colitis patient, Nikki
participates
regularly in an online support network with newly diagnosed patients. She also
speaks on the topic and helps pre- and post-operative patients deal with decisions
related to their condition.
As a business owner, Nikki is committed to continuous professional development.
She works with a variety of mentors who offer guidance and support in several
areas including the corporate side of the business, finances, female leadership,
family business and work-life balance.
Choose one (even if both apply):
The CEO (or other principal manager) of this company is a woman, and at least 40% of the management team is comprised of women.