Sola Salons
Salon studios
- 2023 Franchise 500 Rank
-
#113 Ranked #50 last year
- Initial investment
-
$808K - $2.1M
- Units as of 2022
-
628 36.2% over 3 years
The beauty industry has been in business for centuries. For Sola Salons, its entry has been strategic and purposeful to the extent that it has created value for both the customer and the franchisee. Sola Salons leverages existing real estate spaces to provide space for beauty professionals to potentially actualize their dreams.
Sola Salons' underlying model is hinged on the principle of creating ready-to-move-in spaces for estheticians, nail technicians, massage therapists, and hairdressers. The value proposition is that franchisees have the chance to be relieved of the burden of the traditional salon ownership model. As a beauty professional, this means that you can have a ready-to-use salon space, which can reduce the stress and tension of setting up from scratch.
After its founding in 2004 and subsequent franchising in 2006, Sola Salons has over 500 locations across the U.S.
Why You May Want to Open a Sola Salons Franchise
Having understood the operational model, the question that comes to your mind is most likely, "How and why should I consider investing in such a model?" Well, for starters, Sola Salons has been ranked in Entrepreneur’s Franchise 500 multiple times in recent years. This ranking is 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.
Sola Salons has managed to achieve international expansion by expanding into Brazil and Canada with the ambition to expand even further in its long-term strategy.
What Might Make a Sola Salons Franchise a Good Choice?
The Sola Salons model is unique because it engages the franchisee right from the beginning. Therefore, you are getting the perfect competitive location. You are tapping into a reliable network of beauty professionals who understand the business's crux. Beauty professional tenants also get to benefit from cutting-edge education and support from the franchisee.
Sola Salons' corporate team has experience and understanding of the industry. As a franchisee, this usually translates to training from well-educated members of the business and beauty industry. In the end, the value you get as a franchisee is from engaging with a brand model that has experience and understanding of its industry.
Before making any financial commitment, you must perform your due diligence and establish if this is the right opportunity for you. To be part of the Sola Salons team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. You should also be prepared for ongoing fees that will include advertising, royalty, and potential renewal fees.
How Do You Open a Sola Salons Franchise?
For you, as an interested party, the first step involves filling out an inquiry form. This will then most likely prompt a follow-up from the Sola Salon Studios team. They will have further information regarding the way forward to operating your franchise location.
The Sola Salons support team will discuss your financial qualifications and other financing options available to you. If you qualify, you'll probably meet the Sola Salons team and discuss the agreement terms. After that, you can set up your Sola Salons franchise business and start filling your location with beautiful beauty professionals.
Company Overview
About Sola Salons
- Industry
- Personal-Care Businesses
- Related Categories
- Salon Suites, Hair Care, Salon & Spa Services
- Founded
- 2004
- Parent Company
- Radiance Holdings
- Leadership
- Christina Russell, CEO
- Corporate Address
-
300 Union Blvd., #600
Lakewood, CO 80228
Business Overview
- Franchising Since
- 2005 (18 years)
- # of employees at HQ
- 30
- Where seeking
-
This company is offering new franchisees throughout the US.
This company is offering new franchisees worldwide.
- # of Units
- 628 (as of 2022)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Sola Salons 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
- $55,000
- Initial Investment
- $808,143 - $2,134,517
- Net Worth Requirement
- $1,500,000
- Cash Requirement
- $500,000
- Royalty Fee
- 5.5%
- Ad Royalty Fee
- 2%
- 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
- Sola Salons 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.
- Classroom Training
- 24 hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty 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?
- Yes
Interested in ownership opportunities like Sola Salons? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Sola Salons landed on this year’s Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where Sola Salons ranked on other franchise lists? Find out below.
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