Farmington Station · H1 2026 LP Update · Confidential
Farmington Station · H1 2026 LP Update · Confidential
Your investment opened this brand-new Utah salon in late January. Six months in: a $5,861.33 run-rate month, a returning-client base built from zero, a 5.0★ reputation, and gross-profit positive every month with net losses narrowing as it scales.
Financials from the location's internal P&L (Jan–Jun 2026, accrual basis). Operating metrics from Hello Sugar owner analytics (BigQuery), location UT Farmington | Farmington Station 227. MCR = new members ÷ new-client prospects.
Your capital opened Farmington Station in late January, and the first six months have been about proving demand. The book reached a $5,861.33 run-rate month on 480 appointments and 343 clients. The returning base you funded went from zero to 47 repeat visits a month, the location holds a perfect 5.0-star reputation, and the membership engine is turning on — 70 members added, conversion up 2.5% → 28.6%.
May was the strongest month at $7,000.05; June eased to $5,861.33 after we let go a low-performing esthetician and hired a replacement to cover those hours. That transition temporarily reduced capacity, and the new hire is now ramping into the schedule.
On the economics: every month is gross-profit positive — the services pay for themselves. The $14,486.66 H1 loss is launch marketing (42% of revenue) and fixed cost against a still-small base. It narrowed to −$1,260.15 in May, and we expect the location to reach profitability within the next two months as revenue scales against that fixed base.
Revenue climbed roughly 5× across the half while the location carried full launch-phase marketing and staffing. Esthetician commissions are paid in arrears in uneven batches; here they are allocated across the half in proportion to each month's revenue, so cost of services tracks the sales that generated it. Every month is gross-profit positive — the net loss is overhead and launch marketing, not service economics.
| Line item | Jan | Feb | Mar | Apr | May | Jun | H1 Total |
|---|---|---|---|---|---|---|---|
| Services income | 757.75 | 2,557.33 | 3,479.54 | 2,687.94 | 5,433.88 | 5,336.48 | 20,252.92 |
| Reciprocity adjustments | 19.00 | 223.00 | 286.00 | 314.29 | 371.00 | (336.52) | 876.77 |
| Tips received | 384.78 | 680.75 | 649.14 | 690.99 | 1,195.17 | 861.37 | 4,462.20 |
| Total revenue | 1,161.53 | 3,461.08 | 4,414.68 | 3,693.22 | 7,000.05 | 5,861.33 | 25,591.89 |
| Cost of services | (859.91) | (2,413.04) | (3,006.30) | (2,551.74) | (4,750.47) | (3,935.47) | (17,516.93) |
| Gross profit | 301.62 | 1,048.04 | 1,408.38 | 1,141.48 | 2,249.58 | 1,925.86 | 8,074.96 |
| Admin expenses | (561.09) | (1,038.83) | (399.72) | (510.07) | (406.49) | (414.44) | (3,330.64) |
| Advertising & media | (2,109.06) | (1,823.02) | (1,765.21) | (1,694.59) | (1,835.24) | (1,595.45) | (10,822.57) |
| Fixed costs (rent & software) | (1,196.14) | (1,160.18) | (1,459.75) | (1,483.00) | (1,193.00) | (1,476.25) | (7,968.32) |
| Franchise fees | (75.00) | (75.00) | (75.00) | (75.00) | (75.00) | (75.00) | (450.00) |
| Total operating expenses | (3,941.29) | (4,097.03) | (3,699.68) | (3,762.66) | (3,509.73) | (3,561.14) | (22,571.53) |
| Net operating income | (3,639.67) | (3,048.99) | (2,291.30) | (2,621.18) | (1,260.15) | (1,635.28) | (14,496.57) |
| Other income | — | 9.91 | — | — | — | — | 9.91 |
| Net income | (3,639.67) | (3,039.08) | (2,291.30) | (2,621.18) | (1,260.15) | (1,635.28) | (14,486.66) |
Gross-positive every month; the H1 −$14,486.66 loss is marketing ($10,822.57, 42.3% of revenue) and fixed cost — narrowing to −$1,260.15 in May and closing as revenue scales.
Source: location internal Profit & Loss, Jan–Jun 2026, accrual basis (exported Jul 23 2026). Esthetician commissions, paid in arrears in uneven batches, are allocated across the six months in proportion to each month's revenue (a blended 47.8% of revenue); H1 totals are unchanged. Amounts to the cent; parentheses in red denote costs and negative amounts.
May peaked at 114 appointments and $7,000.05; June eased to 87 and $5,861.33 after we let go a low-performing esthetician and hired a replacement to cover those hours. The new esthetician is ramping into the schedule now.
Revenue: internal P&L. Appointments: Hello Sugar owner analytics (BigQuery), completed appointments at UT Farmington | Farmington Station 227.
Source: Hello Sugar owner analytics (BigQuery), UT Farmington | Farmington Station 227. Returning = clients with more than one completed visit. Loyalists = clients with four or more completed visits. Prospects = new clients not yet on a membership.
Source: Hello Sugar owner analytics (BigQuery), Google reviews for UT Farmington | Farmington Station 227, through Jul 15 2026. A 5.0 average lowers paid-acquisition cost as organic traffic grows.
Forward-looking items reflect management's current expectations, not guarantees.
A $5,861.33 run-rate month; 480 appointments, 343 clients, 70 members, 5.0★ across 19 reviews. June eased on a planned esthetician replacement, now ramping. The loss is launch marketing and fixed cost ahead of a filling book, narrowing toward breakeven — we expect profitability within the next two months.