My Salon Suite Franchise FDD, Profits, Costs & Fees (2024)
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
How much does it cost to start a My Salon Suite franchise? It costs on average between $182,000 – $2,242,000 to start a My Salon Suite franchised location.
This includes costs for construction, equipment, inventory, and initial operating expenses. The exact amount depends on various factors, including the type of facility you choose, the location, and whether the franchisee chooses to lease or purchase the property. My Salon Suite offers 2 types of franchises:
| Franchise Type | Initial Investment Range |
|---|---|
| New Location | $984,999 – $1,577,236 |
| Conversion Franchise | $106,438 – $214,775 |
We are summarizing below the main costs associated with opening a My Salon Suite New Location franchise. For more information on the costs required to start a My Salon Suite franchise, refer to the Franchise Disclosure Document (Item 7).
| Type of Expenditure | Amount |
|---|---|
| Initial Franchise Fee | $50,000 |
| Travel and Living Expenses | $1,000 – $3,000 |
| Rent or Real Estate | $1,200 – $45,200 |
| Improvements/Conversions | $611,020 – $931,088 |
| Furniture and Fixtures | $237,504 – $376,655 |
| Freight | $6,537 – $11,013 |
| Signage | $2,538 – $14,275 |
| Miscellaneous Opening Costs | $5,000 – $9,000 |
| Operating Supplies | $10,000 |
| Advertising/Marketing (3 Months) | $10,000 – $12,000 |
| Insurance (Annual) | $1,400 – $4,000 |
| Additional Funds – 3 Months | $30,000 – $50,000 |
| Design Standards Fee | $1,500 – $2,500 |
| Architectural Services Fee | $10,500 – $39,505 |
| Project Management Fee | $5,000 |
| Licensing and Permitting | $1,800 – $14,000 |
| TOTAL ESTIMATED INITIAL INVESTMENT | $984,999 – $1,577,236 |
Average Revenue (AUV)
How much revenue can you make with a My Salon Suite franchise? A My Salon Suite franchised location makes on average $450,000 in revenue (AUV) per year.
Here is the extract from the Franchise Disclosure Document:
This compares to $443,000 yearly revenue for similar full-service franchises. Below are 10 My Salon Suite competitors as a comparison:
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My Salon Suite Franchise Disclosure Document
Frequently Asked Questions
How many My Salon Suite locations are there?
As of the latest data, My Salon Suite has over 350 locations. These locations are primarily franchise-owned, but details on the exact split between franchise-owned and company-owned locations are not specified. However, the majority of My Salon Suite locations are franchised.
What is the total investment required to open a My Salon Suite franchise?
The total investment required to open a My Salon Suite franchise ranges from $106,000 to $1,577,000.
What are the ongoing fees for a My Salon Suite franchise?
My Salon Suite franchisees are required to pay an ongoing royalty fee of 5.5% of their gross sales. Additionally, there is a marketing fee, typically set at 2% of gross sales, which contributes to the brand’s national marketing fund.
These fees are part of the standard financial commitments that support the overall growth, advertising, and operational support for franchisees within the My Salon Suite network.
What are the financial requirements to become a My Salon Suite franchisee?
To become a My Salon Suite franchisee, you need a minimum net worth of $750,000. Additionally, prospective franchisees must possess at least $150,000 in liquid capital.
These financial prerequisites are designed to ensure that franchisees have the necessary resources to invest in and operate the franchise effectively.
How much can a My Salon Suite franchise owner expect to earn?
The average gross sales for a My Salon Suite franchise are approximately $0.45 million per location. Assuming a 15% operating profit margin, $0.45 million yearly revenue can result in $67,500 EBITDA annually.
Who owns My Salon Suite?
My Salon Suite is owned by Suite Management Franchising, a parent company that oversees the My Salon Suite brand. Suite Management Franchising is focused on supporting and expanding salon suite franchises, offering a turnkey solution for salon professionals.
Disclaimer
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