You decided to open a salon suite business. Great! Now what?
Starting a salon suite business is an exciting business venture. However, navigating the road can be challenging without proper guidance. Opening a franchise, like MY SALON Suite, makes starting a salon suite business much easier. There is always someone available to offer assistance and lead you in the right direction. You can learn from fellow franchise partners, and you have the power of a successful franchise system behind you.
Here is a complete guide to starting a salon suite business. Discover how franchising with MY SALON Suite is easier than starting a salon suite business on your own.
Review Your Finances
Before you start your salon suite ownership journey, it’s a great idea to review your finances. Owning a franchise is an investment, and you want to make sure you invest with a successful brand. A passionate entrepreneur will want to be a part of MY SALON Suite’s tremendous growth.
As a MY SALON Suite franchise owner, your initial investment will range between $664,738 – $1,479,827. There are a number of considerations that will determine your salon suite franchise fees. These factors include the following:
- Size and space of the building
- Your market
- The number of locations you wish to build
- Your location size
- Terms of the financing
Franchise fees and startup costs may be intimidating, but MY SALON Suite offers several financing options to help you get your business started.
- Conventional financing
- 401(k) rollover
- Cash payment
- Refinance existing debt
MY SALON Suite partners with efficient funding and financing providers to better help their franchise partners.
Click here to learn more about MY SALON Suite’s startup costs.
Franchise Application Process
Before you open a MY SALON Suite franchise, you will undergo a franchisee qualification process. This allows you to learn more about the MY SALON Suite brand, the executive team, and what ownership will be like for you.
As part of the application process, you will review the Franchise Disclosure Document (FDD) with a member of the MY SALON Suite franchise team. The company will review your financial qualifications, and together you will determine a market territory. Once approved, you’re ready to get started!
Site Selection and Construction
MY SALON Suite will help you find the real estate in your franchise market, and will help you build out your space. Starting a salon suite business is easier when you can follow a proven buildout plan and have experts help you along the way.
Available Franchise Markets
MY SALON Suite has available franchise markets across the United States and Canada. We want to expand our franchise network and ensure the success of our franchise owners.
Finding the Perfect Location
MY SALON Suite will help you target an ideal location that meets your needs and the needs of your community. We work with a national firm to secure the best real estate for our franchise partners. Not only will we help you find the best real estate in available franchise markets, we will also help you negotiate the lease.
It may take you up to a year to open your MY SALON Suite business from the time you execute your franchise agreement. However, there is variability in the general timeframe in which it takes to open a MY SALON Suite location due to local market logistics, construction timetables, and legal considerations, etc.
MY SALON Suite provides guidance for construction and development of your salon suite. We are with you every step of the way.
You’ll want to get the word out before starting a salon suite business, of course! When you join a franchise, you benefit from the brand name and the company’s established marketing strategy.
There is an ongoing marketing fee (currently $200 per month) for MY SALON Suite franchisees. This helps build and support a successful brand, and it helps promote all franchise locations.
Training and Recruitment
We help you find it, we help you build it, we help you fill it, and, most importantly, we help you keep it full!
New Ownership Training
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.
As a new franchise owner, you will spend several days at MY SALON Suite Franchise University. There, you will learn how to lease the suites, how to speak with salon professionals, and how to create a meaningful community at your salon. You will leave our training with the skills and confidence you need to protect your investment and succeed.
As the owner of a MY SALON Suite franchise, you are essentially a landlord. Beauty professionals, called Members, rent their own salon spaces. They run their own businesses, and they pay you rent.
A MY SALON Suite marketing manager will help you in your recruiting efforts to ensure you have passionate beauty professionals in your salon suites.
Franchising with MY SALON Suite
Starting a salon suite business can lead you on a path to success, but it helps to have the backing of an established franchise system and brand.
When you open a MY SALON Suite, you are never alone. We are with you every step of the way. MY SALON Suite franchise executives are readily available to guide you to the next step. Once your doors open, you are still not alone!
Click here to learn more about franchise opportunities with MY SALON Suite.