Advantages of Franchising
By joining a franchise system like MY SALON Suite, you can rest assured, knowing you are following a proven business model. You provided training from a team of experts and the support of successful business executives. You also have the potential to earn a high income with limited on-site management.
- Successful Business Plan
- Training and Support
As a new owner, MY SALON Suite’s franchise experts will provide you with the skills and confidence you need to protect your investment. You will learn how to lease the suites to ensure maximum adherence to the model. You will also learn how to speak with salon professionals and create a meaningful community at your salon.
- Earning Potential with Limited Responsibility
Disadvantages of Franchising
The disadvantages of franchising are not cut and dried. Every business has upfront and ongoing costs, but with a franchise, many of those fees go directly to the franchisor. In the end, these fees still benefit the franchise owner.
- Opening Costs
The MY SALON Suite initial franchise fee is $50,000. In addition to other upfront costs like building improvements, operating supplies, and fixtures, your initial investment will range between $664,738 – $1,479,827. Suite Management Franchising offers several financing options to help you pay your start-up costs and get your MY SALON Suite location up and running.
- Ongoing Costs
As a MY SALON Suites franchise partner, you will benefit from the services funded by these fees. The marketing fee helps bolster the brand as a well-known entity in the beauty industry… and in your community. The royalty fee helps maintain the franchise brand and covers updates, training, and support.
Research Advantages and Disadvantages of Franchising
The advantages of franchising make it an ideal business opportunity for entrepreneurs looking for success. It is best to research all options before determining if franchising is right for you.
Click here to learn more about franchise opportunities with MY SALON Suite.