Cost Cutters Family Hair Care

Cost Cutters Family Hair Care

Family hair salons
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2022 Franchise 500 Rank
#103 Ranked #131 last year
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Initial investment
$149K - $317K
Units as of 2021
646 8.8% over 3 years

Company Overview

In 1963, Joe Francis opened the first The Barbers Hairstyling for Men salon in Minnesota. Five years later, the salons began styling women's hair.

In 1982, Francis diversified even more, founding family salon Cost Cutters. Twelve Cost Cutters centers opened that first year, and six years later, the 300th salon opened. Today, Cost Cutters is owned by Regis Corporation, a Minneapolis-based company that also franchises a host of other hair salons, including City Looks, Supercuts, Pro-Cuts, Magicuts and First Choice Haircutters.

About Cost Cutters Family Hair Care

Related Categories
Hair Care
Founded
1982
Parent Company
Regis
Leadership
Felipe Athayde, CEO
Ticker Symbol
RGS

Franchising Overview

Franchising Since
1982 (40 years)
# of employees at HQ
340
Where seeking

This company is seeking new franchisees throughout the US.

# of Units
646 (as of 2021)

Franchisor Information

Corporate Address
3701 Wayzata Blvd., #500
Minneapolis, MN 55416

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
$148,930 - $316,700
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
Additional Training
As needed
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
Yes
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

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021