If you’re interested in opening a salon suite franchise, you will need to research your options to determine which is the best fit for you. MY SALON Suite is a leader in the salon suite industry and welcomes questions from prospective franchisees. While you may believe opening a MY SALON Suite franchise is similar to opening a Phenix Salon Suites franchise, there is no comparison!
Compare the Flair
If you’re looking for a salon suite franchise that has style and flair, MY SALON Suite is the right bet for you. MY SALON Suite encourages creativity among its talented stylists, and they are free to make their suites their own.
Every suite is fully furnished, equipped with WiFi and utilities, and super secure. All the stylist needs to do is add their own… style! In this controlled environment, the most sought-after stylists thrive at MY SALON Suite, where they are able to host their clients in an upscale, luxurious salon setting.
With double-door, buzzer-controlled entry, no matter when stylists are working, they and their clients can feel safe and secure. Phenix Salon Suites has employees at the front, meaning stylists have less individual control over who enters the building.
Compare Upfront Costs
When it comes to comparing the upfront costs of different salon suite franchises, prospective franchisees must consider the rewards of the future.
MY SALON Suite has a franchise fee of $50,000. The initial investment ranges from about $582,000 to $1.5 million. MY SALON Suite requires a net worth of $1 million, and new franchisees need $200,000 in liquid cash.
Phenix Salon Suites has a franchise fee of $49,000. The initial investment ranges from about $308,000 to $1.4 million. Phenix Salon Suites requires a net worth of $850,000 to $1 million, and new franchisees need $300,000 in liquid cash.
Compare Ongoing Costs
A royalty fee can make a big difference when it comes to achieving success in a franchise. If a royalty fee is based on a percentage of net sales, franchisees won’t need to pay a set fee every month — it’s based on how successful their shop is.
MY SALON Suite has a royalty fee of 5.5 percent of net sales. Phenix Salon Suites has an ongoing royalty fee of $0.30 per square foot per month. That means no matter how well or how poorly a franchise location performs, the franchisee needs to pay the same amount of money to the franchisor per month.
Additionally, MY SALON Suite franchise owners consistently earn more on average than Phenix Salon Suites owners before and after interest deductions, taxes, and expenses associated with amortization. MY SALON Suite franchise partners are our backbone and we’re proud to share in their success.
How does MY SALON Suite compare to its competition? There is NO comparison! The company repeatedly earns top placement on franchise and business lists.
MY SALON Suite was voted #1 Salon Suite Franchise by Franchise Business Review. It was also listed in Franchise Business Review’s Top 200 Best Franchises of 2020.
Read this impressive list of accolades!
Click here to learn more about franchise opportunities with MY SALON Suite.