3 Reasons Why the Fantastic Sams Salon Franchise is Recession-Resistant
Fantastic Sams stands tall in the ever-growing hair salon franchise industry
Regardless of the economy, there is consistent demand for quality hair care services at reasonable prices. That’s one reason the Fantastic Sams salon franchise has endured for 40 years running, and it’s why our iconic American brand is still growing. We offer franchisees the benefits of a recognized and beloved national brand, the security of a large, trend-setting organization and the support of a well-resourced chain.
Here are three reasons why Fantastic Sams is a good bet in any economy.
1. Everybody needs hair care
The salon industry has a history of stability, and that’s something that hasn’t changed for decades. According to Nail Magazine, the industry grew 12% from 2012 to 2013, and it was one of the few industries to show growth during the Great Recession.
Jerry Dalzell, who owns nine salons in the Las Vegas area, explains why the industry seems to forge ahead through all types of economies and why the Fantastic Sams salon franchise stands out.
“I do think Fantastic Sams is recession-resistant,” Jerry says. “Everybody needs haircuts. We offer family hair care at a mid-range price point. We are not going after the high-income folks, but I have stylists I’d put up against anybody — stylists who are very skilled and talented, as well as some who are young and whom we are developing. We offer a great value at a reasonable price. When you can get an adult haircut and shampoo for $14.95, that’s a pretty good thing in this market.”
2. Broad range of services
There are a lot of cut-only salons in the market. Some of them focus on kids, while others market to men only. Fantastic Sams’ edge is that we not only offer affordable services for the whole family, we offer a much broader range of services than a mere “chop shop.”
At Fantastic Sams hair salon franchise, we pamper our customers with beverages and scalp massages, offering them fashionable haircuts and styles, chemical services like texturing, straightening and color, as well as facial waxing. Our salons are stocked with our exclusive line of professional quality Fantastic Sams hair products, which we offer for sale to customers who want to keep their styles looking sharp until their next visit.
“The great thing about Fantastic Sams is that we aren’t the low-end salon and we aren’t the high-end salon,” says LaRonda Hunter, a multi-unit Fantastic Sams salon franchise owner in Dallas, Texas. “We’re affordable. During the recession, a lot of the people who had been spending more on their hair at higher-end salons couldn’t spend quite as much. They decided to give us a try. If anything, I think the recession may have helped us.”
“The recession started not long after I bought the first salon in 2006,” LaRonda adds. “Then I opened another salon in 2008, and that was definitely during the recession. It really was OK. I was still able to grow.”
3. Growing demand for color services
Industry experts report that about 75% of women in the United States use some sort of color on their hair, and the percentage of men who color their hair is on a huge upswing. The demand is expected to continue as Baby Boomers and Gen X’ers get older and grayer, and they opt to get color treatments more often.
Franchisee Michael Kuryllo sets the bar even higher. He owns six salons in Southern California, and he sees color services as a big advantage for Fantastic Sams.
“Color is the No. 1 upsell,” says Michael. “We have higher margins on color. We’re pushing to get color up to 30% of our sales. If stylists want to make more money, they are doing color. The best part for them is that color takes time to set, and while that is happening, they can be doing another haircut and selling more hair-care products.”
Learn more about Fantastic Sams
You don’t need salon experience to open your own Fantastic Sams salon franchise; you just have to be passionate about people and have good business sense. If you are thinking of making the leap to business owner independence, start the journey by signing up to receive our free franchise report. To start a conversation about this franchise opportunity, please fill out the form below or call us at 877-383-3831. You may also want read Fantastic Sams franchise reviews on our company blog. We look forward to hearing from you!