Magicuts

Hair salon
Total Units
N/A Yearly Data not available
2021 Franchise 500 Rank
N/R Not ranked last year
Initial investment
$198K - $338K

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.

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About Magicuts

Related Categories
Hair Care, Personal-Care Businesses,
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

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 - $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

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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.

Can this franchise be run from home/mobile unit?
No
Can this franchise be run part time?
No
Are exclusive territories available?
No

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Franchise 500 Ranking History

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

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Disclaimer
The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a research tool you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing money in a franchise.
Updated: October 23rd, 2020
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