What are the start-up costs?
The MY SALON Suite initial franchise fee is $50,000. In addition to other upfront costs like building improvements, operating supplies and fixtures, your initial investment will range between $664,738 – $1,479,827.
You can find a breakdown of the MY SALON Suite start-up costs by visiting our Start-Up Costs page.
Is financing available?
Suite Management Franchising offers several financing options to help you pay your start-up costs and get your MY SALON Suite location up and running. Loans are specifically designed to accelerate your growth, with a diverse lender network to provide a full host of conventional and equipment loan options.
You can read more about MY SALON Suite’s financing options here.
What are the ongoing costs?
Detailed in Item 6 of the Suite Management Franchising franchise disclosure document (FDD), recurring and ongoing costs are a key part of franchise ownership. Services that the franchisor provides to the franchisee are enabled in part by these ongoing costs, including fees pertaining to royalty allotment, marketing services, site-selection assistance, and more.
The royalty fee required by Suite Management Franchising is 5.5% of location gross revenues. The ongoing royalty fee is calculated by the gross revenues of the previous month and is required to be delivered by the franchisee on or before the 10th day of each subsequent month.
As part of building and supporting any successful brand in the beauty industry, a fine tuned marketing strategy is incredibly important. To aid the efforts of Suite Management Franchising in marketing and promoting its franchise brands, currently $200 per month is required to be contributed to the allotment of funds used to grow and sustain public resonance in the brands.
How long does it take to open a MY SALON Suite location?
Listed under Item 11 in the Suite Management Franchising franchise disclosure document (FDD) is a detailed explanation of the anticipated timeline to open a MY SALON Suite location. We estimate that it will take between nine (9) to twelve (12) months to open your Franchised Business from the time you execute your Franchise Agreement, but this may vary depending on a wide range of variables. There is variability in the general timeframe in which it takes to open a MY SALON Suite location due to local market logistics, construction timetables, and legal considerations, etc. For more information regarding the opening of your MY SALON Suite franchise, please refer to our FDD.
What training do you provide?
MY SALON Suite will train you in every aspect of what it takes to recruit qualified salon professionals and running a successful salon suite franchise. We like to say we help you find, we help you build it, we help you fill it and most importantly we help you keep it full!
As a new franchise owner, you will spend several days at MY SALON Suite Franchise University. There, you will learn how to lease the suites to ensure maximum adherence to the lease. You will also learn how to speak with salon professionals and connect with Members to create a meaningful community at your salon. You will leave our training with the skills and confidence you need to protect your investment and thrive.
Do you help find Members?
Yes, as a franchisee at MY SALON Suite you will be assigned a marketing manager who will help you in your recruiting efforts.
Do I need salon experience to own a MY SALON Suite?
No, you do not need salon experience to own a MY SALON Suite. Our franchise partners come from all walks of life, with varying professional backgrounds.
The most important characteristic of a MY SALON Suite franchise owner is passion. However, previous business experience is encouraged.
What will my responsibilities be as a MY SALON Suite owner?
Salons do not require full-time, on-site franchise partner presence, and MY SALON Suite owners experience a certain level of freedom they may not find with other franchise ownership opportunities. Most MY SALON Suite franchise owners work 5 to 10 hours per week, and many are able to hold other jobs.
Responsibilities as a MY SALON Suite owner include:
- Recruiting Members
- Retaining a high occupancy rate
- Managing all financial procedures
- Establishing ties to your local community
- Selecting and implementing marketing plans
- Working with Suite Management Franchising to grow the company
You can learn more by visiting the Franchise Partner Responsibilities page.
What markets are available?
MY SALON Suite is expanding, and there are markets available across the United States. Please click here to learn more about available markets.
How can I get started?
Submit your contact information, and we’ll send you more information about how to open a MY SALON Suite franchise. We can’t wait to hear from you!