Salon Owner Sells Business to a Loyal Employee for $1

Pio Imperati, a Connecticut salon owner, sold his firm for $1 to an employee. The 79-year-old proprietor of Pio of Italy Hair Salon in New Haven sold the salon for a dollar to Kathy Moura, 32, who began working at the company 15 years ago because she was “worthy” of a “good foundation.”

“Pio noticed Kathy was special when she first came in for her interview with her mom. She was shy, family-oriented, and eager to learn,” the salon wrote in an email to the Washington Examiner on Tuesday.

Moura struggled to find work after graduating from her technical high school in 2006 due to her lack of experience. Imperati’s was the only salon willing to give her a chance. He gave her a tryout before hiring her, and according to the New Haven Register, Moura will now inherit the salon’s facility and all of its equipment.

“Kathy was shocked when Pio told her about the price; she couldn’t believe it. A salon normally sells for thousands of dollars, and here Pio was basically just giving it to her,” the salon said.

She will continue to pay rent to Imperati, whom she maintained as a privately contracted hairdresser, as he has no plans to retire yet. Since 1965, he has been in business and has operated many locations throughout the state.

Imperati set the price because he believed it would enable her to flourish and provide her with a solid start from which to build the enterprise, the salon shared to the Washington Examiner.

“Eventually, it was a dream of mine come true to be able to turn the salon over to someone worthy,” said Imperati in the New Haven Register interview.

“We grew like a family. … That’s how he treats everyone who walks into the salon. Any person who works here, he wants you to flourish and become something of yourself,” Moura told the local publication.