Not everyone woman has a sister, but those of us who do understand what a special and challenging relationship it is. When you complicate an already complicated relationship with the difficulty of starting and running a business, it becomes almost a miracle when it all works out. Well miracles abound at Studio 104 in Bradenton Beach where Kim Skardoutos and Christine Morin are both sisters and business partners.

In January 2008, Skardoutos and Morin, Canadian natives, decided to start their own business in hair and nail care and purchased Milena’s Beauty Salon, which was a fixture in Bradenton Beach for 24 years. The sisters are so busy with their year 'round regular clientele as well seasonal visitors to the island, they are actively looking to expand with the addition of a stylist and nail tech.

Morin has 10 years as a stylist on Anna Maria and is proficient in all types of hair cuts for men, women and children. She offers hair styling, roll ups, blow-drys, perms and a full range of color services.

She says, “You want it I’ll do it.”

And even though she is extremely busy, she still manages to fit in being a Mary Kay representative. Her hair services are moderately priced starting with $20 for women’s hair cuts, $57 for color and $85 for full foil highlights.

Skardoutos’ life is even busier than her sisters with two young daughters to keep track of as well as working as a professional photographer. She has 12 years experience as a nail tech on Anna Maria and also is a licensed stylist. She was recognized as the favorite manicurist in the Sun’s Readers Choice awards for 2011.

Skardoutos specializes in acrylics as well as pink and white, regular and French manicure, shellac and jell polish. She also offers pedicures which can be customized to the needs of the individual starting with a simple nail cut to a full spa pedicure and encourages men of all ages to give it a try.

And Skardoutos is fast, doing fills in 30 minutes, full sets in 45, pedicures in 45 and express pedicures in 25 minutes. Again pricing is moderate with spa pedicures at $35, pink and white full set $45 and manicures $15.

Studio 104 also offers waxing, brow tinting and hair removal and can accommodate small wedding parties. They use Redken products and OPI and can special order any other products you may want, and they love walk-ins.

The Studio 104 sisters aren’t going anywhere especially since Kim Skardoutos and her husband “TT” recently purchased the condo space their business is located in. They are looking forward to growing their business right along with the continued growth of all of Anna Maria’s businesses. Mostly they want to thank their customers both local and seasonal for their loyalty and their referrals.

Studio 104 meets all of your nail and hair needs in an intimate, flexible and affordable shop, where you’ll meet a pair of busy sisters, who leave the sibling rivalry parked on Gulf Drive.

 

STUDIO 104

2501 Gulf Dr. N. Unit #104
Bradenton Beach
941-778-5989

Hair: Tuesday-Saturday: 9 a.m. to 5 p.m.
Nails: Monday, Tuesday, Thursday, Saturday: 9.a.m. to 5 p.m.
Hair appointments available other times by appointment.
Nail appointments available early mornings by appointment.
MasterCard & Visa accepted

 

In sports the phrase “sweet spot” refers to the ideal position on the racquet, club or bat to strike the ball in order to get the maximum desired result. In investing, sweet spot refers to the segment of an asset class which may offer the best future return in the foreseeable future. Unlike the physics involved with striking a ball, there are never any guarantees to investment concepts, but looking for sweet spot opportunities can help keep risk in check, and hopefully, enhance returns.

The area I’d like to review is the segment of the fixed income markets known as municipal bonds. The interest paid on municipal bonds is free from taxation by the federal government, so these securities are also called tax-free bonds. Municipal bonds are issued by state, county and city governments to help fund projects ranging from water and sewer facilities to building roads or municipal buildings.

The tax free nature of the interest paid on these bonds makes them attractive to investors, particularly those in the top tax brackets. Historically, these bonds pay a lower rate of interest than a comparable quality bond issued by the federal government or a corporation. In other words, investors don’t demand as much yield on their investment if the income is not taxed.

So, with 10-year U.S. Treasury bonds currently yielding around 2.7 percent, you would expect to see high quality municipal bonds yielding around 1.9 percent, or about 30 percent less yield to account for the tax-free nature of the income. Historically, this has been the case, but things changed starting in the 2008-2009 financial crisis. With some high profile municipal bankruptcies in recent years such as Detroit, Mich., Stockton, Calif., and Jefferson County, Ala., striking fear into the hearts of municipal bond buyers, we now have an inverted yield comparison.

Instead of municipals yielding less than comparable federal or corporate bonds, they are yielding the same or more and still offer the tax-free advantage. So, currently, the average high quality municipal bond is yielding around 2.7 percent, the same level as a 10-year treasury bond. But, with the income being tax free that’s the same as earning 4.2 percent on a taxable bond for an investor in the 35 percent tax bracket.

The difference becomes more pronounced if we start dipping down the quality scale a bit. High-yield bonds pay higher levels of interest because the issuer is not as financially strong. High-yield municipal bonds presently reward investors with 6.8 percent average yield. That’s the same net yield as earning 10.4 percent on a taxable bond!

So, what about risk? Obviously municipalities don’t print money like the federal government, so we cannot assume the same level of guarantee of return of principal that you would have with a treasury bond. By using a mutual fund specializing in high quality or high yield municipals, you can gain instant diversification across hundreds of issuers. If one filed for bankruptcy, the impact on the portfolio would be minimal. For most investors, I believe a mutual fund or exchange traded fund is the correct vehicle to obtain management expertise and diversification.

With virtually every other fixed income investment category fully valued at present, municipal bonds offer compelling yields and the potential for moderate price appreciation.

Tom Breiter is president of Breiter Capital Management, Inc., an Anna Maria based investment advisor. He can be reached at 778-1900. Some of the investment concepts highlighted in this column may carry the risk of loss of principal, and investors should determine appropriateness for their personal situation before investing. Visit www.breitercapital.com.