Phenix Salon Suites Franchising LLC

Phenix Salon Suites Franchising LLC

#442

Initial Investment

LOW: $282,600
HIGH: $937,500

Change in Units

+45.8% +70 UNITS (1 Year)
+71.9% +110 UNITS (3 Years)

Fund Your Franchise with Guidant

Guidant Financal Learn how to invest your IRA or 401k into a franchise. ($50k min)

Promoted Opportunities

Company Profile

Founded

2007

Franchising Since

2010 (6 Years)

Corporate Address

7660 Goddard St., #130 Colorado Springs, CO 80920

CEO

Jason Rivera

About Phenix Salon Suites Franchising LLC

Gina Rivera's family has been involved in the salon industry for over 75 years, and she continued the tradition by becoming a licensed hair dresser. In 2007, they opened Phenix Salon Suites (named for their son Phenix,) in order to offer salon professionals an alternative to either renting a booth in an existing salon or dealing with the challenges of owning their own salon. Franchising began in 2010. Phenix franchisees offer month-to-month leasing of suites for hair stylists, nail technicians and other salon professionals to run their businesses out of.

Financials

Financial Requirements

Initial Investment

$282,600 - $937,500

Net-worth Requirement

$500,000

Liquid Cash Requirement

$200,000

Ongoing Fees

Initial Franchise Fee

$40,500

Ongoing Royalty Fee

$750-$1.3K/mo.

Ad Royalty Fee

$50-75/mo.

Financing Options

Phenix Salon Suites Franchising LLC has relationships with third-party sources which offer financing to cover the following: 
franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Veteran Incentives


20% off franchise fee

Franchise 500® Rank History

  • 2014 - 352
  • 2015 - 431
  • 2016 - 442

* Not all years were ranked

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new franchise units throughout the U.S. and in the following regions/states: See List

Operations & Franchisor Support

Training Onsite: 1 week

Training at headquarters: 1 week

Ongoing Support
Purchasing Co-ops
Internet
Field Operations

Marketing Support
National Media

Absentee Ownership Allowed

Related Franchises

Related Articles

Why More Baby Boomers Are Looking to Franchise

Why More Baby Boomers Are Looking to Franchise

Twenty-two percent of boomers have less than $100,000 of retirement savings.
David Nilssen
Why This Auto Repair Franchise Expanded to Nigeria

Why This Auto Repair Franchise Expanded to Nigeria

An automotive repair franchise takes the leap.
Tracy Stapp Herold
Travel Agencies Are Seeing a Boom -- and This Franchise Knows Why

Travel Agencies Are Seeing a Boom -- and This Franchise Knows Why

Learn how Rob Steinfeld and Dean Hanson set up a franchise and joined the unexpected travel boom.
5 Things to Consider Before You Open More Locations

5 Things to Consider Before You Open More Locations

Once your first business succeeds, it's easy to get complacent. Ask yourself what you should do next.
Kyle Zagrodzky

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: December 28th, 2015

Reprints & Licensing
Update Your Listing
Submit New Listing

Regions/States List

More Franchise Rankings

Top Low-Cost Franchises

100 franchises for under $60,000

Top Homebased/Mobile Franchises

These 100 businesses can be managed from home

Fastest-Growing Franchises

These companies have shown rapid unit expansion over the last two years

Top New Franchises

The top 75 companies that began franchising in the last five years

Top Global Franchises

200 North American franchisors seeking international franchisees

For reprints and licensing questions, click here.

Previous Years Rankings

2016 2015 2014 2013 2012