Faust Institute changes hands: New venture begins with an updo attitude

Lynnae Faust-Latham and Justin Latham recently took over ownership of the Faust Institute of Cosmetology. Lynnae's mother, Ann Smith, founded the schools in Storm Lake and Spirit Lake and will still provides guidance for the new owners. / Photo by Caity Slawson. [Click to enlarge]

"Come over and see what the schools are about, see what the education is about, see what the business is about."

That's the way Justin Latham remembers the pitch from Ann Smith, the founder of Faust Institute of Cosmetology. As 2009 drew to a close, Smith was ready to scale back her role at the cosmetology schools in Storm Lake and Spirit Lake.

Her daughter Lynnae Faust-Latham and son-in-law, Justin, were good candidates to take over: The couple met at Indianola's Simpson College -- Justin has a background in international business and Lynnae's major was communications.

It turns out, the couple didn't need a hard sell even though Lynnae "grew up in it, I didn't," Justin said. He touched up roots of a different kind, working for his family's seed company business in Alexander.

"We lived in Minneapolis, we lived in Ohio and we lived in Clear Lake prior to coming here and it didn't take much to sell him on coming back this way," Lynnae said. "Although, neither one of us are in the cosmetology field, it just was kind of an easy move, knowing we have great staffs at both locations."

Smith had been involved in the cosmetology field since 1965 and moved to Storm Lake when she got married. What started as a salon in Buena Vista County's largest city became her school of cosmetology in 1980. In 1990, she opened up the branch campus in Spirit Lake.

Her three decades of ownership came to an end in 2010, but her influence will continue to be a valued part of the business, according to Lynnae.

"We will always have her support and have her to consult with even though she may not be the owner anymore," she said. "We have that available - her knowledge and her background."

TWO ASPECTS OF BUSINESS

The locations in Storm Lake and Spirit Lake balance learning opportunities while providing a service. Faust Institute of Cosmetology is an accredited school with access to Title IV -- direct student loans. The Lathams see it as a way to open the door to more students.

"We are a school, so we provide education to students - traditional and non-traditonal students," Lynnae said. She considers cosmetology a great program for someone who is changing careers because lessons are packaged within a 13 month program. "They can be in and out of here and be on their way in just over a year," she added.

The clinic floor provides services to the public as students continue to gain hands-on experience.

"Within that education, they're going to learn cuts, colors, perms - all the things that have to do with hair-cutting as well as basic skin care, facials, makeup, waxing, artificial nails, manicures, pedicures," Justin said. "The good thing about the state of Iowa is, it's a very broad, encompassing curriculum so the students are able to go out, go back to their small hometown salon that had a job waiting for them, and bring in lots of new services that they, maybe, had not been providing before. We see that happen."

STAYING SMALL, STAYING PERSONAL

The Lathams will maintain the small school atmosphere established at Faust as well. The year began with 19 students in Spirit Lake and 22 more in the south location.

"We're a small rural school and typically we're going to be in that 20 to 25 students at each campus as a real, normal-sized class for us," Justin said. " We bought a new building in 2006 in Storm Lake, which was considerably larger than our existing building that we've been in since 1980. Enrollment has gone up in Storm Lake a little bit. That's been a benefit for us."

The ratio of seven students per instructor is one of the best in the state at both campuses.

The Faust Institute of Cosmetology has moved within Spirit Lake as well -- from the Spirit Lake business district to the Iowa Great Lakes Mall.

"We're never going to be a school that has 50 or 75 students," Lynnae said. "We pride ourselves that we are small. Our students come into our office every single day. They know us."