What’s In This Email

• Millennial wealth has soared 144% since pandemic, but gen wealth gap is still significant

• How Drybar went from a $40 side hustle to a $255 million empire

• Have you tried Bridgette Bar’s banana cream pie

• Ceci Bar’s happy hour has drinks and snacks under $10

• Notable Spotlight: Koukla

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✍️ TAKE NOTE

Millennial Wealth Soars 144% Since Pandemic, But Generational Wealth Gap Persists

Millennial wealth in Canada has surged by an impressive 144% since the start of the pandemic, largely driven by financial assets, real estate investments, and generational wealth transfers. However, despite this growth, many millennials continue to face challenges in achieving the same level of financial security as older generations, particularly in the housing market. Here's a closer look at the numbers and factors shaping this wealth increase.

Key Takeaways

• Millennial wealth grew to $2.82 trillion between 2020 and 2024, with an average net worth of $491,296 per household.

• While millennials experienced the fastest wealth growth rate (82% on average), their total wealth still lags behind Gen X and baby boomers.

• Real estate played a major role in wealth accumulation, with millennial real estate holdings increasing by 122%, compared to 45% growth across all generations.

• One-third of first-time homebuyers, averaging 32 years old, received financial "gifts" from family to help with down payments.

• Millennials today may have higher incomes and wealth than previous generations at the same age, but also carry greater debt, especially mortgage debt.

• Debt-to-income ratios remain highest among millennials aged 35-44, though they saw a slight decline in 2024 as wage growth outpaced debt accumulation.

Why This Matters: Millennials are making financial strides, but the road to wealth is still full of hurdles, particularly regarding homeownership and managing debt. For a generation navigating inflation and high interest rates, understanding how to leverage real estate and manage financial stress will be key to long-term stability and closing the wealth gap with older generations.

Read the full article here.

How Alli Webb Transformed a $40 Side Hustle Into a $255 Million Empire

Alli Webb turned a simple side hustle into a multimillion-dollar business by recognizing a gap in the beauty industry and capitalizing on it. Starting with a mobile blowout service for $40, she soon found herself unable to meet the demand and decided to open a brick-and-mortar salon. Webb's story is one of seizing opportunity, scaling smartly, and building an empire from an everyday service.

Key Takeaways

• The Start: Webb began her journey as a mobile blowout stylist, catering to stay-at-home moms. Her initial pitch was a simple $40 blowout service, which quickly gained popularity.

• Growth: Webb's success prompted her to open the first Drybar salon in 2010, focusing solely on blowouts — no cuts or color. She aimed for volume, needing 30-40 blowouts a day to break even, but demand quickly doubled.

• Support: With backing from her brother and personal savings, Webb launched Drybar, eventually growing it to over 150 salons nationwide.

• Exit Strategy: In 2020, Webb sold Drybar’s product line to Helen of Troy for $255 million in cash, and later, the franchise rights were acquired by WellBiz Brands.

Why This Matters: Webb’s journey shows how identifying a niche market, even within a crowded industry, can lead to monumental success. Her story highlights the importance of perseverance, smart scaling, and the power of a strong business model. For aspiring entrepreneurs, Webb’s path illustrates how a passion-driven side hustle can evolve into a thriving empire.

Read the full article here.

@_sammikwan

now im craving the banana cream pie #toronto #torontofood #torontofoodie #foodreview #fyp

@mukbangtoronto

Happy hours are Tues-Fri from 4-6pm, Sat from 11am-6pm and Sun from 11am-4pm‼️ #toronto#torontolife#torontorestaurants#torontobar#torontoh... See more

Koukla

Happy hour 5:30 pm - 7:30 pm

@chlobow_to

no notes 🚫📝 #toronto #torontorestaurants #torontofood #torontofoodie #happyhour

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Notable Life is Canada for young professionals, entrepreneurs, and culture generators operated by The Notable Group. Notable Daily inspires ideas and sharpens the minds of over 40,000 top-tier professionals in competitive industries.

Disclosure: While we utilize artificial intelligence (AI) to assist with certain aspects of content development, all information provided in our content is thoroughly vetted and edited by our team of humans. We strive to ensure the accuracy and reliability of all information. However, we recommend that readers conduct research or seek professional advice to make informed decisions. This email may contain sponsored content.

Written and curated by Ashley Nedaei