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- 2022 Franchise 500 Rank
#50 Ranked #26 last year
- Initial investment
$545K - $1.7M
- Units as of 2021
576 41.9% over 3 years
Here’s what you need to know if you’re interested in opening a Sola Salons franchise.
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 Studios 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 Salon Studios 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 Salon Studios 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.
About Sola Salons
- Franchising Since
- 2005 (17 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees worldwide.
- # of Units
- 576 (as of 2021)
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
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
- $545,476 - $1,737,517
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.
- 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
- 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
- 15 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
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.
Work with a free franchise expert and get what you need to start a Sola Salons franchise.
Franchise 500 Ranking History
Compare where Sola Salons landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where Sola Salons 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 Sola Salons.
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