MY SALON Suite, founded in 2010, has rapidly grown to become one of the leading salon suite franchises in North America. Headquartered in Metairie, Louisiana, the company began franchising in 2012 and has since expanded to over 350 locations across the continent.

This franchise offers a unique business model that caters to beauty professionals by providing fully furnished, upscale salon suites. Each suite includes high-end salon equipment, a full-length style station, a shampoo sink, and a color station, allowing stylists to operate independently within a supportive and secure environment.

The primary service of MY SALON Suite is to rent private, luxurious suites to beauty professionals, enabling them to run their own businesses while enjoying the freedom to design their own spaces, set their prices, and build their clientele.

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Initial investment

Here’s what you can expect to spend to start a My Salon Suite franchise.

Note: The table above provides a snapshot of the main costs associated with starting the most common franchise format (as disclosed in the Item 7 of the Franchise Disclosure Document). For a complete overview of all the expenses involved with the various formats offered by the franchisor, please consult the Franchise Disclosure Document.

Franchise fees & Royalties

Here are the main ongoing fees the franchisor will ask you to pay going forward to run the franchise.

Initial Franchise Fee

You must pay an initial franchise fee of $50,000 when you sign the Franchise Agreement. This fee is non-refundable and fully earned once paid.

Royalty Fee

The monthly royalty fee is equal to 5.5% of Gross Revenues for the first 12 months. From the 13th month onwards, the fee is the greater of $1,000 or 5.5% of Gross Revenues.

Marketing/Advertising Fee

The Brand Building Fund Contribution is a minimum of $200 per month, which can increase up to 2% of Gross Revenues.

Brand Fund Fee

A part of the Marketing/Advertising Fee includes contributions to the Brand Building Fund, which is 0.5% of Gross Revenues.

Technology Fee

The Technology Fee is $170 per month. For additional franchises, the fee is $70 per month per franchise.

Lease or Rent Fee

You must lease or acquire a facility for your business, ranging from 4,753 to 8,720 square feet. Rent payments vary based on location and market rates.

Transfer Fees

The transfer fee is $15,000 plus any broker fees related to the transfer.

Renewal Fees

The renewal fee is 15% of the then-current initial franchise fee.

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and 2,124 other brands just like it.

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Franchise pros and cons

The Pros:

• Extensive training: The brand offers its franchisees in-depth online and classroom training to prepare for establishing a successful franchise. It trains them about its business concept, best operations and sales tracking. In addition, it helps them launch their suites.
• Freedom: The franchise gives franchisees a semi-absentee ownership opportunity. Since it’s a property management rental concept, franchisees can keep their day jobs and operate their suites through the use of online technology. Additionally, franchisees can design their schedules, set their prices and sell their products.
• Territory protection: As long as the franchisees comply with the franchise agreement, the franchisor grants them the right to operate its salons in a protected area. It does not authorize other franchises or affiliated brands to operate in the designated area.
• Third-party financing: The brand offers its franchisees funding through in-house loans and third-party lenders. Franchisees are financed for the franchise fee, start fees, equipment and inventory for qualifying franchisees.
• Convenience and privacy: The brand’s concept gives stylists and clients 24/7 access to their suites, granting them convenience. In addition, the suites are private and offer maximum security, which appeals to a wider audience. Franchisees can stand out and increase their earning potential.
• Marketing strategies: The brand employs robust marketing and advertising strategies to help franchisees attract top beauty stylists to their locations and maintain high occupancy of their suites. These include national and local promotional campaigns, implementing calendar marketing plans and providing member benefits and support programs for all tenants.
• Site selection and construction: The franchisor helps franchisees identify a suitable location for their salons. Also, they provide them with real estate experts to help them with the design and build out of their salon and lease negotiations.

The cons

• Not a home-based business: The business does not present a home- or mobile-unit-based franchise. It requires franchisees to operate from fixed office space, a retail facility, or a warehouse.
• No global presence: Despite its vibrant growth, the brand does not have many locations outside the US. It may be less appealing to sell franchises in other locations.
• Competition: The brand faces stiff competition in the industry from Phenix Salon Suites and Sola Salon Studios.

How to open

Opening a My Salon Suite franchise involves several steps, designed to ensure you are a good fit for the franchise. Here are the main steps to follow to open a My Salon Suite franchise.

1. Research and Initial Contact

• Visit the Franchise Website: Begin by researching MY SALON Suite’s franchise opportunities to understand their offerings, business model, and requirements.
• Submit Inquiry Form: Fill out the franchise inquiry form with your contact details and financial information to express your interest.

2. Review Franchise Disclosure Document (FDD)

• Receive and Review FDD: After expressing interest, you will receive the Franchise Disclosure Document, which details all aspects of the franchise agreement.
• Understand Costs and Obligations: Carefully review the initial franchise fee, total investment costs, and ongoing fees such as royalty and marketing fees.

3. Financial Preparation and Qualification

• Ensure Financial Readiness: Ensure you meet the financial qualifications, which typically include a minimum net worth of $1,500,000 and liquid assets of $500,000.
• Prepare Financing: If necessary, explore financing options to cover start-up costs, which range from $984,999 to $1,577,236.

4. Attend Franchise Discovery Day

• Schedule a Discovery Day: Participate in a Discovery Day event to meet the MY SALON Suite team, tour a salon suite location, and gain a deeper understanding of the business operations.
• Ask Questions: Use this opportunity to ask detailed questions about the support you will receive, the training process, and the day-to-day responsibilities of a franchise owner.

5. Sign Franchise Agreement

• Legal Consultation: Consult with a franchise attorney to review the franchise agreement.
• Sign Agreement: Once all terms are understood and agreed upon, sign the franchise agreement to officially become a MY SALON Suite franchisee.

6. Site Selection and Build-Out

• Select Location: Work with MY SALON Suite’s real estate team to find a suitable location for your salon suites.
• Build-Out and Design: Oversee the build-out of your salon suite space, ensuring it meets the brand’s high standards for quality and functionality.

7. Training and Opening

• Complete Training: Attend MY SALON Suite’s comprehensive training program covering operations, marketing, member recruitment, and more.
• Grand Opening: Plan and execute a grand opening event with the support of MY SALON Suite’s marketing team to attract initial members and clients.

Disclaimer

Disclaimer: This content has been made for informational and educational purposes only. We do not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the information presented in the article. You should not construe any such information or other material as legal, tax, investment, financial, or other professional advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any franchises, securities, or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the franchise and/or securities laws of such jurisdiction.

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