- 2024 Franchise 500 Rank
-
N/R Ranked #450 last year
- Initial investment
-
$150K - $309K
- Units as of 2022
-
602 1% over 3 years
Cost Cutters Family Hair Care is a chain of hair salons that strives to offer quality service at a low price for the whole family. Cost Cutters Family Hair Care started operations in 1982 and now has more than 600 branches throughout the United States. It is part of the Regis Corporation, which is one of the largest hair salon chains in the world.
Operating under the Cost Cutters Family Hair Care name, a salon offers quick services for busy families at convenient locations. Trained stylists ensure that the customer gets the cut they want when they want it. The customer may not need an appointment at a Cost Cutters Family Hair Care salon because the staff is prepared for walk-ins.
Why You May Want to Start a Cost Cutters Family Hair Care Franchise
Cost Cutters Family Hair Care does more than just style hair. The salons offer a full range of coloring services. Customers are offered advice by a friendly stylist and can buy care products in-store.
Coupons and special deals draw in new customers, and salon staff encourages customers to post selfies on an Instagram account so their photos can appear in a photo gallery on the Cost Cutters Family Hair Care’s website. This is part of a strategy to build a community of customers. Cost Cutters Family Hair Care’s motto is "get more, pay less, and save time."
What Might Make a Cost Cutters Family Hair Care Franchise a Good Choice?
A potential franchisee does not need to be a qualified hairstylist. The Regis Corporation prefers that its franchisees have experience in multi-unit franchising, and therefore they should bring ambition, drive, and people skills to the business. A franchisee should be a strong, effective team leader dedicated to creating a welcoming environment for their customers. The staff style hair; you style the overall business.
Once Cost Cutters Family Hair Care has approved you as a franchisee, you will be offered access to all the experience Regis Corporation has to offer. Support includes a comprehensive training program for you and your staff. You will be given expert help in choosing a convenient location with lots of potential business. Cost Cutters Family Hair Care will also help you set up your salon to meet the standards the company sets.
How To Open a Cost Cutters Family Hair Care Franchise
To be part of the Cost Cutters Family Hair Care team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for the existence of ongoing fees that will include advertising fees and royalty fees. Franchises will also need to meet the company's set net worth and liquid capital requirements.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Cost Cutters Family Hair Care franchising team questions.
Company Overview
About Cost Cutters Family Hair Care
| Industry | Personal-Care Businesses |
|---|---|
| Related Categories | Hair Care |
| Founded | 1982 |
| Parent Company | Regis |
| Leadership | Matt Doctor, CEO |
| Corporate Address |
3701 Wayzata Blvd., #500 Minneapolis, MN 55416 |
| Social | Facebook, Twitter, Instagram |
Business Overview
| Franchising Since | 1982 (42 years) |
|---|---|
| # of employees at HQ | 250 |
| Where seeking |
This company is offering new franchises throughout the US. |
| # of Units | 602 (as of 2022) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Cost Cutters Family Hair Care franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$39,500 |
|---|---|
|
Initial Investment
|
$150,466 - $308,558 |
|
Net Worth Requirement
|
$1,000,000 - $1,200,000 |
|
Cash Requirement
|
$250,000 - $350,000 |
|
Veteran Incentives
|
$2,500 rebate on first-store franchise fee |
|
Royalty Fee
|
6% |
|
Ad Royalty Fee
|
4% |
|
Term of Agreement
|
15 years |
| Is franchise term renewable? | Yes |
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
| Third Party Financing | Cost Cutters Family Hair Care has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory |
|---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| Classroom Training | 24 hours |
|---|---|
| Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Co-op Advertising
National Media
Regional Advertising
Social Media
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | No |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
No |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | 6-8 |
|
Are exclusive territories available?
|
No |
Franchise 500 Ranking History
Compare where Cost Cutters Family Hair Care landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Cost Cutters Family Hair Care ranked on other franchise lists? Find out below.
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