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- 2022 Franchise 500 Rank
#62 Ranked #61 last year
- Initial investment
$681K - $1.8M
- Units as of 2021
207 117.9% over 3 years
Here’s what you need to know if you’re interested in opening a My Salon Suite/Salon Plaza franchise.
My Salon Suite is a personal care 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. The headquarters of My Salon Suite is in Metairie, Louisiana.
As a franchisee, you are offered the opportunity to bring together beauty professionals under one roof. 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 Salon Plaza in 2015, 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.
About My Salon Suite/Salon Plaza
- Franchising Since
- 2012 (10 years)
- # of employees at HQ
- Where seeking
This company is seeking 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
This company is seeking new franchisees in the following international regions: Canada
- # of Units
- 207 (as of 2021)
Information for Franchisees
Here’s what you need to know if you’re interested in opening a My Salon Suite/Salon Plaza 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $680,771 - $1,794,913
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- 10% off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 10 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
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/Salon Plaza 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-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Franchise 500 Ranking History
Compare where My Salon Suite/Salon Plaza landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where My Salon Suite/Salon Plaza ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse more franchises that are similar to My Salon Suite/Salon Plaza.
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