my salon suite franchise fees
Do you want to know how much it costs to start your franchise? It’s important to understand salon suite franchise fees, how much you can expect to pay, and where this money goes. Learn how much it takes for you to get started on your salon suite franchise today.
As a My Salon Suite franchisee owner, your initial investment will range based on the size of the location you build. We generally look for real estate in the 6,000-8,000 square feet but are flexible on these sizes based on the size of the market, availability of space, and operator experience. The numbers shown in the table below are a reflection of locations our franchise partners opened in 2023. The locations represented range in size between 5,039 to 7,940 square feet at a cost between $675,106 – $1,682,095. There are a number of considerations that will determine your salon suite franchise fees. These factors include the following:
- Size and space of the building
- Your market
- The number of locations you wish to build
- Your location size
- Terms of the financing
Take a look at this breakdown of your estimated initial investment:
| type of expenditure(1) | amount | method of payment | when due | to whom payment is to be paid |
|
| low | high | ||||
| initial franchise fee(1) | $50,000 | $50,000 | Lump sum | Upon signing of Franchise Agreement | Franchisor |
| travel and living expenses | $1,000 | $3,000 | As incurred | As incurred | Airlines, Hotels, Restaurants, etc. |
| rent or real estate(2) | $1,200 | $37,712 | As determined by lessor | Prior to opening | Lessor |
| improvements/ conversions(3) | $611,020 | $931,088 | As incurred | Prior to opening | Vendors |
| furniture and fixtures | $173,881 | $374,552 | As determined by vendors | Prior to opening or as arranged with vendors | Vendors |
| freight | $3,060 | $10,892 | As determined by vendors | Prior to opening | Vendors |
| signage | $4,960 | $26,045 | As determined by vendors | Prior to opening or as arranged with vendors | Vendors |
| miscellaneous opening costs(4) | $5,000 | $9,000 | As incurred | Prior to opening | Vendors, Utilities, etc. |
| operating supplies(5) | $10,000 | $10,000 | As incurred | Prior to opening | Approved Vendors |
| advertising/ marketing (3 months) | $15,000 | $20,000 | As incurred | Prior to opening | Vendors |
| insurance (annual)(6) | $1,400 | $4,000 | As determined by insurance company | Prior to opening or as arranged by vendor | Insurance Company/Agent |
| additional funds – 3 months(7) | $35,000 | $65,000 | As incurred | As incurred | Various Third Parties |
| design standards fee(8) | $1,500 | $2,500 | Lump sum | Prior to opening, within 5 days of invoice | Franchisor |
| architectural services fee(9) | $14,704 | $54,756 | As determined by vendors | Prior to opening or as arranged with vendors | Architectural Firm, Design Firm, etc. |
| project management fee(10) | $5,000 | $5,000 | Lump sum | Prior to opening, within 5 days of Invoice | Franchisor |
| licensing and permitting | $50 | $25,000 | As incurred | As incurred | Various Third Parties |
| TOTAL ESTIMATED INITIAL INVESTMENT(11) | $675,106 | $1,682,095 | |||
franchise financing made easy
Suite Management Franchising is growing with tremendous momentum, and we want passionate entrepreneurs to be a part of this growth. We grew from 12 to 275 locations in just ten years! Are you ready to own our next location?
Don’t let initial salon suite franchise fees intimidate you. Suite Management Franchising offers several financing options to help you pay your initial salon suite franchise fees.
- Conventional financing
- 401(k) rollover
- Cash payment
- Refinance existing debt
-
financing made easy with our partners
My Salon Suite partners with efficient funding and financing providers to better help our franchise partners. Loans are specifically designed to accelerate your growth, with a diverse lender network to provide a full host of conventional and equipment loan options.
invest in my salon suite
Find out if opening a My Salon Suite franchise fits into your budget — and your future. Fill out our form for more information, and get started on owning your franchise now!
request franchise info
IDEAL CANDIDATES INCLUDE:
- Minimum net worth of $1,500,000+
- $500,000 liquid
- Minimum 700 credit score
- An ability to financially maintain your lifestyle for 9 to 12 months during pre-opening and ramp-up stages
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