Phenix Salon Suites

Salon suites
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Franchise 500 2023
2024 Franchise 500 Rank
#89 Ranked #58 last year
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Initial investment
$710K - $1.2M
Units as of 2023
362 Increase 29.3% over 3 years

Phenix Salon Suites has been a front-runner in the salon suite rental business since its founding in 2007. Its founder, Gina Rivera, is part of a family that has been in the salon industry for 75 years. Rivera carried on the family tradition by getting a hairdressing license before opening Phenix Salon Suites, a property dedicated to beauty professionals. Many beauty professionals prefer the flexibility of renting a managed booth over buying and maintaining their own property.

Franchising since 2010, Phenix Salon Suites has been named by Entrepreneur as one of the Fastest Growing Franchises multiple times in recent years. It actively seeks new franchise units across North, Central, and South America, Europe, and the Middle East.

Why You May Want to Start a Phenix Salon Suites Franchise

As a franchisee, you'll essentially be in the real estate business, renting out suites to hairstylists, nail technicians, and other professionals in the field. Existing Phenix Salon Suites franchisees are typically happy to report low turnover and high occupancy rates since starting.

Simple buildout is another key advantage of the franchise, which only requires about 3,500 to 7,500 square feet, accommodating up to 47 suites. The company will even help you find a property that’s best for your market.

You can run your business efficiently while continuing other activities since this is more of a property management concept. You can operate as an absentee owner, furthering your ability to work flexible hours. As with most existing franchisees, you will likely need only one employee to handle your office front and maintain a product inventory.

What Might Make a Phenix Salon Suites Franchise a Good Choice?

As someone considering buying a Phenix Salon Suites franchise, you're probably most interested in the worth of your potential franchise. The company is a regular recipient of industry recognition, consistently ranking in Entrepreneur’s Franchise 500 based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.

There's an initial investment made up of a franchise fee and other startup costs necessary to open a franchise. You will also need to have a minimum net worth and liquid capital. You should also be prepared for ongoing fees, including advertising and royalty fees. 

How To Open a Phenix Salon Suites Franchise

After filling out the franchising opportunity form, the franchise team may discuss the opportunity with you if you seem to be a good fit. They'll also ask you to fill out a questionnaire and personal financial statement.

Once both sides feel comfortable, you will receive the company’s Franchise Disclosure Document. You'll get the chance to speak to some existing franchisees and may be invited to discovery day at company headquarters in Encinitas, California. Here, you may meet the founders. You can also ask any last-minute questions you might have on your mind.

Once the executive team approves your application, you can sign your franchise agreement, pay the initial fees, and start working with the site selection team. As for whatever else you may need, the company will help until you're ready to open your Phenix Salon Suites franchise. It's time to give talented beauty professionals a home!

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Company Overview

About Phenix Salon Suites

Industry Personal-Care Businesses
Related Categories Salon Suites, Hair Care, Miscellaneous Business Services, Miscellaneous Personal-Care Businesses, Miscellaneous Services, Salon & Spa Services
Founded 2007
Leadership Brian Kelley, President & CEO
Corporate Address 1084 N. El Camino Real, #B427
Encinitas, CA 92024
Social Facebook, Twitter, LinkedIn, Instagram

Business Overview

Franchising Since 2010 (14 years)
# of employees at HQ 23
Where seeking

This company is offering new franchises worldwide.

This company is offering new franchises 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, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Wisconsin, West Virginia, Wyoming

# of Units 362 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a Phenix Salon Suites 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
$52,500
Initial Investment Information Circle
$710,467 - $1,198,282
Net Worth Requirement Information Circle
$1,000,000
Cash Requirement Information Circle
$300,000
Veteran Incentives Information Circle
$17,500 off franchise fee
Royalty Fee Information Circle
$0.33/sq. ft./mo.
Ad Royalty Fee Information Circle
$0.06/sq. ft./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 Phenix Salon Suites 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.

On-The-Job Training 8-10 hours
Classroom Training 19 hours
Ongoing Support
Newsletter
Meetings & Conventions
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
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? Information Circle
No
Can this franchise be run part time? Information Circle
No
# of employees required to run 1
Are exclusive territories available? Information Circle
No
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Franchise 500 Ranking History

Compare where Phenix Salon Suites landed on this year's Franchise 500 Ranking versus previous years.

Additional Rankings

Curious to know where Phenix Salon Suites ranked on other franchise lists? Find out below.

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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