What Does It Take to be a MY SALON Suite Franchise Owner?
You don’t need to have prior experience in the salon industry to seek out salon suite franchise opportunities. The most important characteristic of a MY SALON Suite franchise owner is passion. However, previous business experience is encouraged.
Ideal Candidates Include:
- Minimum net worth of $1,000,000+
- $200,000 liquid
- Minimum 700 credit score
- An ability to financially maintain your lifestyle for 9 to 12 months during pre-opening and ramp-up stages
Benefits of Opening a Salon Suite Franchise
Within the salon industry, salon suite franchise opportunities are becoming very popular franchise investments. The simplest way to explain the difference between a salon suite and a traditional salon is ownership — in a traditional salon, the stylist pays a commission to the salon but doesn’t own anything. With salon suite franchise opportunities, the stylist rents a private space in a salon complex from a franchise owner.
As a MY SALON Suite franchise owner, you give stylists the opportunity to run their own business. You are the landlord, and they rent their salon space from you.
Freedom
MY SALON Suite franchise owners and their stylists experience a level of freedom they wouldn’t find in a traditional salon. Most franchise owners work 5 to 10 hours per week, and many hold other jobs.
Members (our stylists and the franchisee’s customers) have the freedom to design their own space, sell their own products, and come up with their own pricing. They run their own business!
Support
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. If you are willing to learn, MY SALON Suite offers you the potential for long-term sustainable income.
Our team is dedicated to making sure you are a success! Your success is our success. It’s as simple as that. That’s why we have franchise business leaders in your region that you can reach out to anytime for questions and support. Our corporate staff members are constantly working on ways to make MY SALON Suite a great investment for our franchise partners.
Success
According to a 2020 market research report summary from IBISWorld, the market size of the hair salons industry in the United States, measured by revenue, is $47 billion.
The salon industry is recession-resistant — everyone always wants, and needs, to get their hair cut. As a MY SALON Suite franchise owner, your success depends on the success of your stylists. They want to succeed, so they are always driven to attract and maintain clientele.
