Thinking about opening an Image Studios 360 franchise? Here’s a side-by-side comparison of how it stacks up to one of its main competitors, MY SALON Suite franchise.
SALON SUITES ARE ON THE RISE
As the world bounces back from the lockdowns and restrictions of 2020, salon suite concepts provide an appealing opportunity for customers and franchise owners alike. With so many options on the market, there has never been a more exciting time to invest. The right franchise will provide the highest level of flexibility, creativity, and freedom for your investment, while supporting your path toward lasting success.
When considering a salon suites franchise opportunity, both Image Studios 360 and MY SALON Suite are reputable options you’ll come across, but it might be difficult to see a clear frontrunner. Both were founded in 2010, began franchising not long after, and have a business model that provides a flexible, needs-based platform for health and beauty professionals to operate their own salons. So, which brand is the stronger investment?
Here’s a side-by-side look at MY SALON Suite vs. Image Studios 360:
|Costs & Fees||MY SALON Suite||Image Studios 360|
|Initial Franchise Fee||$50,000||$54,750|
|Initial Total Investment||$680,771 – $1,794,913||$579,420 – $1,328,250|
|Net Worth Requirement||$1 million||$1 million|
|Ongoing Fees||5.5% royalty + $200/month advertising fund contribution||5.5% royalty + 2% advertising fee|
|EBITDA||*$131,319 (2020)||$106,904 (2020)|
*Includes two months of no business due to COVID-19 closures.
THE IMAGE STUDIOS 360 FRANCHISE
Franchising since 2015, Image Studios 360 provides ongoing training and education to salon professionals through their proprietary IMAGE Pro Business program to assist them in effective business practices, an appealing feature for both new and experienced entrepreneurs. The ideal Image Studios 360 franchise candidate includes C-level executives, seasoned investors, commercial property owners, and established beauty industry professionals.
Each Image Studios 360 location is approximately 4,000-7,000 square feet and houses anywhere between 22 to 38 turnkey salon units (ranging from 100-250 square feet), which are leased out to various health and beauty professionals. The brand currently has 19 units in operation across four states. Comparatively, MY SALON Suite is a well-established franchise currently supporting 222 locations across the country.
MY SALON SUITE
MY SALON Suite began franchising in 2012 and has blossomed to over 200 locations nationwide, currently sitting at No. 62 on Entrepreneur’s Franchise 500. Furthermore, MY SALON Suite was recently named a Top Franchise for 2021 by Franchise Business Review, noted for our high earning potential and flexible semi-absentee ownership model.
MY SALON Suite is a leader in the robust, recession-resistant health and beauty industry, supporting a community of passionate and creative entrepreneurs. The brand provides professionals with fully appointed, turn-key salon spaces in which to build their business. Since our inception, MY SALON Suite has helped over 7,000 independent salon professionals become their own boss and grow their personal brand.
MY SALON Suite attracts beauty professionals by providing generously sized suites with enough space for three workstations in each one. Our upscale concept brings together multiple suites and a variety of beauty services. We place an emphasis on building a community based on shared values of fun, love, creativity, inspiration, and entrepreneurial spirit. Suite tenants keep all their profits after paying their rental fees and are also free to sell whatever products they desire.
While MY SALON Suite provides state-of-the-art spaces and tools with which to operate, we encourage our salon professionals to personalize their suites to reflect their unique style and services. Unlike many of our competitors, MY SALON Suite recognizes that the space we provide isn’t one-size-fits-all, and the success of our owners is derived from the freedom and individuality they enjoy when partnering with our brand.
LEARN MORE ABOUT MY SALON FRANCHISE OPPORTUNITIES
In addition to our world-class accommodations, MY SALON Suite members are offered training opportunities and ongoing support to develop and grow their business, including access to an extensive referral network.
Our team of franchising experts will train new investors in every aspect of what it takes to attract and recruit the best health and beauty professionals to help grow your business. While repeatedly earning top honors on franchise and business lists, MY SALON Suite is committed to helping franchisees succeed. Request more info about franchising with MY SALON Suite today.