At a Glance
Products & Services: Hair salon
Number of Locations: 2,451
Total Investment: $113.9K - $233.8K
Began Franchising: 1979
About SupercutsIn 1975, Frank Emmett and Geoffrey Rappaport opened the first Supercuts in Albany, California, as an alternative to both high-fashion salons and neighborhood barbershops. They developed a hair-cutting technique that took only 20 minutes so that they could offer quick and inexpensive haircuts without appointments. They also allowed their customers to pick and choose which particular services they wanted, in order to tailor their experience to their desires and budgets. With this standardized business model in place, the men began franchising in 1979, and their stores soon spread throughout the U.S.
In 1996, Supercuts was acquired by Regis Corp., which also franchises City Looks, Cost Cutters Family Hair Care and Pro-Cuts in the U.S., and Magicuts and First Choice Haircutters in Canada.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $29,500
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: Conditional, renewable
Veteran Incentives: $2,500 franchise fee rebate on first store
Financial RequirementsNet Worth: $500,000
Liquid Cash Available: $150,000
Operations82% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 6 - 8. Absentee ownership of franchise is allowed. (20% of current franchisees are owner/operators).
|Financing Type||In-House||Third Party|