My Salon Suite
Salon suites
- 2023 Franchise 500 Rank
-
#66 Ranked #62 last year
- Initial investment
-
$686K - $1.8M
- Units as of 2022
-
243 88.4% over 3 years
My Salon Suite is a personal care property management company founded in 2010 by Ken and Alanna McAllister. It started as a single business in New Orleans, Louisiana, and eventually grew to become one of the top salon suite franchise businesses in the U.S. and Canada.
My Salon Suite began franchising in 2012. The company has since established franchise units in many locations across North America. In June 2021, My Salon Suite joined Propelled Brands, which also franchises, FastSigns and NerdsToGo, with the goal of accelerating growth.
As a franchisee, you are offered the opportunity to bring together beauty professionals under one roof, providing them the space to make their own entrepreneurial dreams come true. You'd work as your own boss while supporting your clients in your own salon suite franchise.
Why You Might Want to Start a My Salon Suite Franchise
My Salon Suite helps beauty professionals develop, open, and run a private suite salon. These suite salons come with fully furnished facilities and are gaining popularity among beauty professionals. These factors drive the popularity of My Salon Suite:
Provides beauty professionals a sense of ownership.
Offers a private, safe, and clean environment that clients love.
Professionals share their expansive health and beauty skills.
Ability to customize salon designs with the clients' tastes in mind.
Dedication to providing quality services.
My Salon Suite offers comprehensive support and training to help you run a smooth salon suite business. The company acts as a business coach to beauty professionals and provides advice about running a successful salon suite franchise.
What Could Make My Salon Suite a Good Choice?
My Salon Suite is among the fastest-growing salon suites franchises in the U.S. Since collaborating with Propelled Brands in 2021, there has been an increase in the number of new franchises opening across several U.S. states.
The company offers financial backing through third-party lenders to cover the franchise fee, startup costs, and equipment for qualified franchisees. This can be a plus for anyone who is interested in buying a franchise but who lacks the funds to get started independently.
My Salon Suite is a lucrative business with a ten-year renewable agreement period. This type of business allows you to run multiple locations at once. You don't need experience in the beauty sector to start your own salon suite business—you can gain that experience as you go.
How to Open Your Own My Salon Suite Franchise
It might take you a few months to open a My Salon Suite franchise, and the startup will require a significant initial investment. If your net worth and available liquid capital match the company's requirements, you can begin to undergo the process of starting a salon suite franchise.
To get started, you might need to fill out and submit a franchise inquiry form online. My Salon Suite will typically then send more information and provide you with the Franchise Disclosure Document. After the initial contact, your financial capabilities will likely be assessed before you are able to begin training at My Salon Suite University. You will need to pay a franchise fee, sign franchise agreements, and select a suitable location under a franchise coach's guidance. After this, you should be ready to start your own salon suite business.
Company Overview
About My Salon Suite
| Industry | Personal-Care Businesses |
|---|---|
| Related Categories | Salon Suites, Miscellaneous Business Services, Hair Care, Miscellaneous Services, Salon & Spa Services |
| Founded | 2010 |
| Parent Company | Propelled Brands |
| Leadership | Stacy Eley, Brand President |
| Corporate Address |
2542 Highlander Wy. Carrollton, TX 75006 |
| Social | Facebook, Twitter, LinkedIn, Instagram, YouTube |
Business Overview
| Franchising Since | 2012 (2023-2012 years) |
|---|---|
| # of employees at HQ | 42 |
| Where seeking |
This company is offering new franchisees worldwide. This company is offering new franchisees in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming |
| # of Units | 243 (as of 2022) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a My Salon Suite 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
|
$50,000 |
|---|---|
|
Initial Investment
|
$686,171 - $1,809,913 |
|
Net Worth Requirement
|
$1,500,000 |
|
Cash Requirement
|
$500,000 |
|
Veteran Incentives
|
50% off franchise fee |
|
Royalty Fee
|
5.5% |
|
Ad Royalty Fee
|
$200+/mo. |
|
Term of Agreement
|
10 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 | My Salon Suite has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment |
|---|
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 12 hours |
|---|---|
| Classroom Training | 18 hours |
| Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
|
| Marketing Support |
Co-op Advertising
Ad Templates
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App
|
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 |
|
Are exclusive territories available?
|
No |
Interested in ownership opportunities like My Salon Suite? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where My Salon Suite landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where My Salon Suite ranked on other franchise lists? Find out below.
Ranked #66 in 2023
Entrepreneur’s 44th annual Franchise 500® ranking shines a light on the unique challenges and changes that have shaped the franchise industry over the last year—and how franchisors have adapted and evolved to meet them.
Ranked #92 in 2023
Meet the companies that are leveraging their ability to scale fast across the U.S. and Canada in Entrepreneur's annual fastest-growing franchises ranking.
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