Magicuts

Hair salon
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Franchise 500 Rank
N/R Not ranked last year
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Initial investment
$198K - $338K
Units as of 2020
113 Decrease

Magicuts was founded in 1981 and started franchising later that same year. Now the company has over 100 different Magicuts salon locations throughout Canada, most of which are franchises.

Magicuts offers many different hair care services to customers. They offer cuts, shampoos, styles, student cuts, and kid's cuts. Color services, hair treatments, perms, specialty styling, and facial waxing are also available. Each Magicuts is also expected to carry hair care products for purchase. Though they offer kid's cuts, the Magicuts brand is typically more geared towards adults.

Why You May Want To Start a Magicuts Franchise

Magicuts typically looks for franchisees with prior business management experience. Though this experience can be in industries other than hair care, it may be helpful to be passionate about the hair care industry. Franchisees with Magicuts should also have proven leadership, time management, and organizational skills.

Magicuts franchisees should expect to be involved in the day-to-day operation of the location. The company wants its Magicuts franchisees to positively motivate their team to perform well while encouraging exceptional customer service.

Opening a Magicuts franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive hair care industry.

What Might Make a Magicuts Franchise a Good Choice?

Magicuts is one of the largest salons in Canada, and the brand typically places its locations in high-traffic areas. One of the more well-known spots people find Magicuts are Zellers department stores.

To be part of the Magicuts 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 ongoing fees that will include advertising fees and royalty fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements. 

How to Open a Magicuts Franchise

As you decide if opening a Magicuts franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Magicuts franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

Before making any financial commitment or signing an agreement with Magicuts, it is crucial that you 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 Magicuts franchising team questions.

If awarded a franchise, franchisees receive a great deal of support from the Magicuts brand throughout the franchising process. In addition to pre-opening training, franchisees may receive support through brand awareness, marketing, research, and construction. Magicuts franchisees also receive hands-on training and continued support after their franchise location has opened.

It may be a good idea to speak with an attorney or financial advisor that may help cover the costs of the franchise fee, startup, equipment, inventory, accounts receivable, and payroll.

Find Your Perfect Franchise

Company Overview

About Magicuts

Industry Personal-Care Businesses
Related Categories Hair Care
Founded 1981
Parent Company Magicuts Inc.
Leadership Hugh Sawyer, CEO
Corporate Address 2233 Argentia Rd., #302, East Tower
Mississauga, ON L5N 2X7

Business Overview

Franchising Since 1981 (43 years)
# of employees at HQ 340
Where seeking

This company is offering new franchises worldwide.

# of Units 113 (as of 2020)

Information for Franchisees

Here's what you need to know if you're interested in opening a Magicuts 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 Information Circle
$39,500
Initial Investment Information Circle
$197,680 - $338,400
Net Worth Requirement Information Circle
$300,000
Cash Requirement Information Circle
$100,000
Royalty Fee Information Circle
6%
Ad Royalty Fee Information Circle
$65/mo.
Term of Agreement Information Circle
10 years
Is franchise term renewable? Yes
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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 Magicuts has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

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
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
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? Information Circle
No
Can this franchise be run part time? Information Circle
No
Are exclusive territories available? Information Circle
No
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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022