pixel

Absentee Business for Sale | Own a MY SALON Suite Franchise

Owning a semi-absentee business seems like a dream come true. Owners work an average of 5 to 10 hours per week but still enjoy a full-time salary. This is not a pipe dream. MY SALON Suite franchise owners enjoy the benefits of semi-absentee ownership every day.

The semi-absentee model is desirable for investors who want to own multiple businesses or franchise locations. Without the requirement to be physically present or manage day-to-day operations, business owners can scale their investment. They can divide their focus among multiple opportunities, and therefore increase their earnings potential.

Absentee ownership is also perfect for entrepreneurs who are ready to retire from the grind of a 40-hour workweek but still want to have a stable, comfortable income stream.

Not every franchise or business model is made for this type of ownership. Investors considering an absentee business for sale should check for the components that make this model successful before buying in.

Is the Business Part of a Growing Industry with Increasing Demand?

As much as this seems like common sense, it is perhaps the key factor to look for when considering the purchase of an absentee business for sale: Do the numbers add up?

Potential franchisees or business owners should ask questions and collect as much data as possible to make sure the proposed investment is backed by sound numbers.

Is the business profitable? How much do individual owners make annually? Has this business been impacted by the recent pandemic? Is this business part of an in-demand industry? Is this opportunity a temporary trend, or is it the wave of the future? Is there a need for the business in the community?

The global beauty industry is a $532 billion business, according to Business Insider. Most projections indicate it will reach or exceed $800 billion by 2025.

Salon suites, rentable suites for beauty professionals, are a growing trend within a booming industry. The average gross revenue for MY SALON Suite franchise locations was $362,000 in 2019.

MY SALON Suite franchise owners give stylists the opportunity to run their own business, offering an alternative to the mandates and restrictions of a traditional salon.

MY SALON Suite equips stylists with everything they need to grow their private businesses, with a styling chair, shampoo sink, and color station in every suite. From there, stylists make each space their own and run their businesses as they choose. MY SALON Suite franchisees simply act as the landlord.

Does the Business Model Allow for Semi-Absentee Ownership?

Not every business model is suitable for semi-absentee owners. A retail business, for example, requires oversight of inventory and sales, and training, hiring, and managing employees.

MY SALON Suite is a case study for a proven semi-absentee model.

Franchise owners oversee few to no employees. Instead, they focus on renting out their suites to driven entrepreneurs called “Members.” MY SALON Suite Members have autonomy over their individual beauty business and simply pay rent for the space.

So, once franchisees have filled a large majority of their suites with motivated beauty professionals, the businesses literally run themselves.

Do You Have Support to Make the Business Successful?

Investors may consider individual business ownership instead of a franchise. It’s important to consider the lack of support available to those who go at it alone.

Rather than playing a guessing game, investors often choose to back their money with a proven franchise system that offers a multitude of resources.

Inspired investors who want to own a MY SALON franchise need to be hungry for success, possess a winning attitude, and meet certain financial requirements. In return, franchisees receive a full suite of support services, including initial and ongoing training, and sales and marketing programs.

MY SALON Suite will help with all the details related to finding the right location, store design, and marketing strategies. Franchisees will also learn how to recruit qualified salon professionals. Regional franchise business leaders are available anytime to provide support.

The freedom and flexibility of semi-absentee franchise ownership is unmistakable. MY SALON Suite can help investors make their dreams a reality, with expectations to expand to 250 locations in 2021 and a projected 500 locations by 2025.

To learn more about a franchise opportunity with MY SALON Suite, visit: https://www.mysalonsuite.com/franchise/