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Beauty Franchises

Like shades of hair color and nail polish, there are many choices when it comes to selecting and investing in a beauty franchise.  The options range from low-cost, home-based cosmetics models to brick and mortar businesses.  According to Emma Pearson, author on Franchising.com, here are some things to consider when narrowing down your choices in selecting the right beauty franchise for you.

  1. Type of Work – It’s important to determine if you’ll enjoy the actual work which can vary by the different beauty franchise models.
  2. Investment Cost – It’s important to have enough money to open your business and additional funds to run it until it becomes profitable. It is recommended to have at least one year’s worth of living expenses, along with funds to float your business.
  3. Franchisor Financial Track Record - It is best to hire an accountant with franchise experience to review the financial analysis of the franchise to determine whether it is a solid profitable company.
  4. Training and Support – While most franchisors provide support of some sort, it is important to find out how extensive the support will be and if it will enable you to overcome any areas that may not be your strengths.
  5. Franchisee Satisfaction – A good way to find out if a franchise is likely to meet your expectations is to talk to several franchisees to find out if they are happy that they invested in the franchise.
  6. Headquarters Staff – You will most likely be interacting with the staff at the franchise’s headquarters frequently, so it will be helpful to determine if you get along with them.
  7. Termination Options – It’s important to understand what the franchisor requires in order for you to leave the franchise, in case you want to move on to another career or retire.
  8. Franchisor Long-Term Goals - Find out if the franchisor’s vision of growth is similar to your own.

Your lifestyle, family, interests, work schedule, values and ethics are important in making your decision about purchasing a beauty franchise.  Diligent research and taking into consideration what is important to you will help you identify the beauty franchise brand that is most likely to deliver what you are seeking.

Examples of Beauty Franchises:

For more information - 8 Questions to Help You Select the Right Beauty Franchise

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