Magicuts

Hair salon
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2021 Franchise 500 Rank
N/R Not ranked last year
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Initial investment
$198K - $338K
Units as of 2020
113

Company Overview

Magicuts is a full-service salon with locations in Zellers department stores throughout Canada. Its parent, Regis Corp., also franchises City Looks, Cost Cutters Family Hair Care, First Choice Haircutters, Pro-Cuts and Supercuts.

About Magicuts

Related Categories
Hair Care
Founded
1981
Parent Company
Magicuts Inc.
Leadership
Hugh Sawyer, CEO
Ticker Symbol
rgs

Franchising Overview

Franchising Since
1981 (40 years)
# of employees at HQ
340
Where seeking

This company is seeking new franchisees in the following international regions: Canada

# of Units
113 (as of 2020)

Franchisor Information

Corporate Address
2233 Argentia Rd., #302, East Tower
Mississauga, ON L5N 2X7

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
$39,500
Initial Investment
$197,680 - $338,400
Net Worth Requirement
$300,000
Cash Requirement
$100,000
Royalty Fee
6%
Ad Royalty Fee
$65/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
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?
No
Can this franchise be run part time?
No
Are exclusive territories available?
No

Franchise 500 Ranking History

Compare where Magicuts landed on this year’s Franchise 500 Ranking versus previous years.

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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