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Description
Investment Icon

What Are the Initial Investment Requirements for a My Salon Suite Franchise?

To open a My Salon Suite franchise, you will need to prepare for a significant initial investment. The franchise fee is $50,000, while the total initial investment can range from $106,438 to $1,577,236. Additionally, you should have cash available between $984,999 and $1,577,236, and a net worth of $300,000 to $500,000 to qualify for ownership. These financial requirements are crucial for ensuring you are equipped to handle the operational costs and initial expenses associated with starting your franchise.

Fees Icon

What Are the Ongoing Fees for My Salon Suite Franchisees?

As a franchisee of My Salon Suite, you will be responsible for ongoing fees that include a royalty fee of 5.5% of your unit's revenue and a marketing fee of 2%. These fees contribute to the brand's overall marketing efforts and support services, helping you attract clients and grow your business. Understanding these financial obligations is essential to effectively budgeting and maximizing profitability in your franchise operations.

Revenue Icon

What Is the Average Revenue Potential for My Salon Suite Units?

My Salon Suite franchises have shown promising revenue potential, with the average annual revenue per unit reported at $654,538. The median annual revenue is also at $654,538, indicating a strong performance across the franchise network. Revenue can vary significantly, ranging from $103,683 to as high as $1,442,432. This variance highlights the importance of location, management, and market conditions in determining your franchise's financial success.

Breakeven Icon

How Quickly Can You Expect to Break Even with a My Salon Suite Franchise?

Franchisees of My Salon Suite can anticipate breaking even within approximately 12 months of operation. The investment payback period is around 18 months, meaning you could potentially recoup your initial investment relatively quickly if your unit performs well. This timeline is attractive for aspiring entrepreneurs, as it allows for a faster return on investment compared to many other franchise opportunities. Understanding these timelines can help you plan your financial strategy effectively.

My Salon Suite Franchise Financial Requirements

Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.

Net Worth Required icon The minimum total assets (minus liabilities) you must possess.

i Net Worth Required:

$300,000 - $500,000
Investment Payback icon The estimated period to recoup your total investment.

i Investment Payback:

18 Months
Franchise Fee icon The initial fee paid to join the franchise system.

i Franchise Fee:

$50,000
Royalty Fee icon Ongoing percentage of revenue paid to the franchisor.

i Royalty Fee:

5.5%
Marketing Fee icon Regular contribution toward the franchise’s advertising fund.

i Marketing Fee:

2%
Breakeven Time icon The estimated timeframe to recover your initial costs.

i Breakeven Time:

12 Months
Initial Investment icon The total amount required to launch the franchise.

i Initial Investment:

$106,438 - $1,577,236
Cash Required icon The minimum liquid capital you must have on hand.

i Cash Required:

$984,999 - $1,577,236
Average Revenue icon The typical yearly revenue generated per franchise location.

i Average Revenue:

$422,747
Median Revenue icon The middle value of yearly revenue among franchise locations.

i Median Revenue:

$422,747
Highest Revenue icon The largest reported annual revenue among franchisees.

i Highest Revenue:

$1,442,432
Lowest Revenue icon The smallest reported annual revenue among franchisees.

i Lowest Revenue:

$103,683
Industry icon A broad sector defining similar types of franchise businesses.

i Industry:

Health & Beauty Franchises
Category icon A more specific division within the broader industry.

i Category:

Hair Salons
Leadership icon The key individuals guiding the franchise’s strategy and growth.

i Leadership:

Catherine Monson
Corporate Address icon The official business address of the franchisor’s headquarters.

i Corporate Address:

3900 N. Causeway Boulevard, Suite 1200 Metairie, Louisiana 70002
Funding Year icon Available financing options to help start the franchise.

i Funding Year:

2012
Parent Company icon The main organization that owns the franchise brand.

i Parent Company:

Suite Management Franchising, LLC

My Salon Suite Franchise Unit Growth Summary

A breakdown of corporate, franchised, and total units, with yearly net changes.

The overall number of operating franchise locations.

Total Units i

276
The number of locations owned by independent franchisees.

Franchised Units i

232
The number of locations owned and run by the franchisor.

Corporate Units i

44
Units 2021 2022 2023
Total Units 195 222 276
Net Change YoY 27 54
Franchised Units 163 190 232
Net Change YoY 27 42
Corporate Units 32 32 44
Net Change YoY 0 12
Investment About

Investment Overview

The My Salon Suite franchise offers an initial investment range from $106,438 to $1,577,236, making it accessible for various entrepreneurs. The franchise fee is set at $50,000, with ongoing royalty and marketing fees of 5.5% and 2%, respectively. Aspiring franchisees should be prepared to have a cash requirement between $984,999 and $1,577,236, alongside a net worth of $300,000 to $500,000 to qualify for ownership.

Potential About

Revenue Potential

My Salon Suite units demonstrate strong financial performance, with average annual revenue reported at $422,747. The revenue range varies significantly, with the lowest unit generating $103,683 and the highest reaching $1,442,432. This diverse revenue potential highlights the opportunity for franchisees to achieve substantial income based on location and management effectiveness.

Metrics About

Breakeven and Payback

Franchisees can expect to breakeven within approximately 12 months of operation. The investment payback period is estimated at 18 months, allowing owners to recover their initial investment relatively quickly. These figures indicate a favorable financial outlook for those managing their units effectively and capitalizing on market demand.

Fees About

Growth Trajectory

My Salon Suite has experienced consistent growth in its franchise network, expanding from 163 franchised units in 2021 to 232 in 2023. This upward trend reflects the brand's increasing popularity and market presence, providing new franchisees with the advantage of joining a rapidly growing community.

Breakeven About

Operational Insights

Average operating expenses for My Salon Suite units total approximately $235,137 annually, with rent being the largest expense at $133,314. Franchisees should be aware of these costs and manage them efficiently to maximize profitability. Understanding these operational metrics is crucial for maintaining a successful franchise.

Units About

Corporate Structure

My Salon Suite operates a mix of franchised and corporate units, with 44 corporate locations as of 2023. This structure allows the brand to maintain a strong presence in the market while supporting franchisees with best practices and operational guidance. The balance between franchised and corporate units aids in brand consistency and operational efficiency across all locations.

Frequently Asked Questions

The initial investment for a My Salon Suite franchise ranges from $106,438 to $1,577,236, including a franchise fee of $50,000.