The founders of Organic Hair Regrowth Solutions(OHRS), Vincent and Amy have officially announced their plan to bring the company public. This idea arose in the year 2019. Their original plan was to announce an IPO in the year 2024. Unfortunately, the pandemic hit and all plans were halted. Although the pandemic had caused a lot of salons to go out of business and paused a lot of OHRS’ plans and projects, the company is still seen opening more outlets and launching salons with new concepts such as the Organic Express Hair Color Lab.
As the current situation is taking a better turn, OHRS is picking up from where they left off and is charging full steam ahead so that they can offer an IPO in the year 2026.
The IPO announcement also included their decision to allocate shares to OHRS employees via the Employee Share Option Plan(ESOP). A question immediately comes to mind. Why are Vincent and Amy distributing shares to their employees?
This decision is made solely because of the founders’ experience as hair stylists before they established OHRS. It is not unusual for a hair stylist to remain in their position possibly until retirement age. With nowhere to advance, it is a common practice for hairstylists to shift from salon to salon for better pay or simply just for a change of working environment. This practice puts both employers and the hairstylists at a disadvantage. For the employers, they are not able to retain the talent that they have nurtured and would have to start from the scratch to train a new hire. As for the employee, their salary will more or less remain in the same range even after moving to a new salon.
Vincent and Amy felt that it is time to break this tiring cycle. They felt that no matter how many franchises they open, other than providing more job opportunities, they are unable to make a significant difference to their employees’ lives. After much structuring and planning, management is finally able to welcome their employees to grow together with the company by announcing IPO and introducing ESOP. The employees of OHRS will have the opportunity to be part of the business and enjoy the financial benefits that come with it.
The ESOP consists of two different plans. The first plan allows employees to purchase the shares and reimburse in installments. The second plan of ESOP consists of awarding the shares to some employees. The share distribution is based on an employee’s work and sales performance. OHRS shares will be distributed as Employee Share Option Token which is a token created using the same blockchain system as Ethereum. Employees are entitled to receive this token in their quarterly bonus even if OHRS is not listed yet.
After the IPO plan was announced, OHRS’ employees were more than ecstatic. They also expressed a strong interest to participate in the plan and grow together with the company. One might ask, how can a salon chain have any value in the capital market? This proves that OHRS is not just a hair salon franchise. It is currently breaking away from the ancient stigma of a commercial salon. OHRS is now evolving itself into a Digital Professional Hair Care Ecosystem, paving the way to a new movement that will change the hair care business in the near future.