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Sola Salon Studios Franchise Costs $1.03M – $2.1M (2024 Fees & Profits)

Sola Salon Studios was founded in 2004 by Stratton Smith and Matt Briger with a vision to revolutionize the beauty industry by empowering beauty professionals to own their businesses. Headquartered in Lakewood, Colorado, Sola Salon Studios provides high-end, move-in-ready salon suites designed for independent beauty professionals. The franchise began its expansion in 2005 and has grown to over 700 locations across the United States.

Sola Salon Studios differentiates itself by offering beauty professionals the freedom to customize their own private studios, set their own prices, and manage their schedules, providing a personalized and intimate setting for their clients. This model allows salon owners to escape the traditional salon environment and create a unique brand identity, all while receiving comprehensive support from Sola, including marketing resources, technology tools, and industry-leading education.

Joining the Sola Salon Studios franchise means becoming part of a large and supportive community of over 20,000 independent beauty professionals. The franchise focuses on providing unmatched hospitality, amenities, and a secure and inclusive environment, ensuring that each salon owner can thrive both personally and professionally.

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Initial investment

Type of ExpenditureAmount
Architectural Fees$10,000
Architectural Fees$4,000
Architectural Fees$30,000
Initial Franchise Fee$21,000
Rent or Real Estate$199,000
Site Selection Assistance$0
Design Services$55,000
Design Services$3,200
Design Services$3,500
Improvements/Conversions$705,600
Improvements/Conversions$1,305,000
Rent Manager Property Management Software (6 months)$744
Furniture & Fixtures$147,000
Furniture & Fixtures$1,044
Furniture & Fixtures$315,000
Travel and Living Expenses$14
Insurance (Yearly basis)$6,500
Insurance (Yearly basis)$10,000
Utilities$1,311
Computer Equipment and Software$1,300
Computer Equipment and Software$16,645
Computer Equipment and Software$2,300
Repairs and Maintenance$2,859
Repairs and Maintenance$20,673
Operating Supplies$1,000
Labor$9,000
Labor$10,000
Signage$20,000
Additional Funds for Initial 3 Months$50,000
Advertising/Marketing$10,900
TOTALS$1,028,914 – $2,100,531

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

Initial Franchise Fee

The Initial Franchise Fee for a new franchisee is $55,000. For an existing franchisee, the fee is $41,000.

Royalty Fee

Franchisees must pay a monthly royalty fee of 5.5% of gross revenue, with a minimum of $500 per month.

Marketing/Advertising Fee

Franchisees are required to spend a minimum of $3,600 annually on local advertising, marketing, and promotion. Additionally, it is recommended that franchisees spend a minimum of $10,000 on pre-opening and post-opening marketing during the first year of operation.

Renewal Fees

The renewal fee is $7,500, due 30 days prior to renewal. The initial franchise term is 10 years, with a renewal term of 10 years.

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Franchise pros and cons

The Pros:

  • Flexible build-out options: The brand’s salon designs are flexible and can fit into the available real estate opportunities. Franchisees can offer modern, unique salon build-outs for each beauty professional.
  • Minimal staff and equipment maintenance: Sola Salon Studios utilizes a real estate rental model that requires minimal staff and equipment. Franchisees get simple entry requirements and can scale their businesses and improve their profitability.
  • No inventory and receivables: The brand offers its franchisee move-in-ready salons all under one roof for salon professionals equipped with amenities like high-end cabinetry, floor-to-ceiling walls with sliding glass doors, Wi-Fi and all utilities. Franchisees can explore and grow their portfolios smoothly.
  • Integrated marketing expertise: The franchisor provides its franchisees with tested and proven national brand campaigns to attract beauty professionals to rent studios in their locations. In addition, franchisees get personalized local public relations resources and tools for their salon studios.
  • Comprehensive training and education: The brand offers its franchisees a detailed training and education curriculum to help them launch and operate their Sola salon studios successfully. It trains them on the parent company’s business concept, operations, hiring and training staff, as well as giving them growth advice and insights.
  • Third-party financing: The franchisor offers its franchisees financing assistance through partnerships with third parties. Franchisees get funding for their franchise fee, inventory, equipment and payroll.
  • Market analysis and site selection: The franchisor provides its franchisees with real estate experts to help them identify a competitive market and location. It also helps them access contractors to guide the build-out of their salons.
  • Exclusive territory protection: Sola Salon Studios grants its franchisees the right to operate in a protected market. It does not establish any other franchises or operate competing businesses in the development market.

The cons:

  • Not a passive investment: The franchise does not allow for absentee ownership. Franchisees must be actively involved in their salons’ day-to-day decision-making and operations.
  • Not a home-based opportunity: A Sola Salon Studios franchise is not a mobile business opportunity. Franchisees need to have office space, a retail facility, or a warehouse to operate from.
  • Not a part-time business opportunity: The franchise cannot be run part-time or as a side business. It requires franchisees to follow their parent company’s working hours.
  • Competition:  Supercuts, TONI&GUY and Sweet & Sassy.

How to open

1. Research and Initial Inquiry

  • Visit the Sola Salon Studios website to gather information about the franchise opportunity.
  • Fill out the inquiry form to express your interest in becoming a franchisee.
  • Receive and review the franchise information packet provided by Sola Salon Studios.

2. Initial Contact and Qualification

  • Speak with a franchise development representative to discuss your interest and qualifications.
  • Complete a franchise application that includes your financial information and business experience.
  • Undergo a background and credit check as part of the qualification process.

3. Franchise Disclosure Document (FDD) Review

  • Receive the Franchise Disclosure Document (FDD) which provides detailed information about the franchise system, financial performance, and legal requirements.
  • Review the FDD carefully with the help of a franchise attorney or financial advisor.
  • Participate in a discovery day to meet the Sola Salon Studios team and visit existing locations.

4. Secure Financing and Location

  • Secure financing if necessary, through personal funds, bank loans, or franchise financing options.
  • Identify and lease a suitable location for your Sola Salon Studios franchise, considering factors such as visibility, accessibility, and target market demographics.
  • Work with the Sola Salon Studios real estate team to finalize the location and lease agreement.

5. Build Out and Training

  • Start the build-out of your salon studios following the design and construction guidelines provided by Sola Salon Studios.
  • Attend comprehensive training programs that cover all aspects of running a Sola Salon Studios franchise, including operations, marketing, and client management.
  • Hire and train your staff to ensure a smooth opening and ongoing operations.

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.

All content in this article is information of a general nature and does not address the detailed circumstances of any particular individual or entity. Nothing in the article constitutes professional and/or financial and/or legal advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content in this article before making any decisions based on such information or other content.

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