Fantastic Sams Salon Franchise Financing Is a Game Changer
Iconic salon franchise partners with The Bancorp Bank to provide easy-to-obtain business loans to fund growth and expansion
Opening a Fantastic Sams hair salon franchise is easier now than ever before, thanks to our partnership with The Bancorp Bank. This industry-leading financing program is just one more innovation from the premier hair salon franchise and allows new franchise owners to receive same-day approval for their new salons, shortening the time from application to grand opening by weeks or even months.
Fantastic Sams is the original no-appointment, full-service salon for the whole family. Since 1976, our franchise owners have provided clients a trendy cut and style, a shampoo and a whole slate of salon experiences that always includes the latest innovations in hair care and design. With more than 1,100 Fantastic Sams locations worldwide, we continue to be a leader in the $75 billion beauty industry.
“We’re in the midst of an historic wave of expansion because we’re redefining the value salon, whether it’s through our New Image Salon design, our extensive line of products or our hip, stylish marketing campaign,” says Fantastic Sams President & CEO Linda Chadwick. “Through this partnership with The Bancorp Bank, we’re able to do what no other franchise opportunity can: cut through the red tape, help qualified owners secure financing and speed up the process of opening a new business.”
For potential new owners, reducing the time between making the decision to open a salon and serving the first client is a benefit unmatched by other hair salon franchise models. Here are just a few points to consider as you look at franchise hair salons.
The Bancorp Bank partnership simplifies financing new businesses
Our partnership with The Bancorp Bank is not a marketing agreement designed to drive franchisees to a particular bank. We’ve got skin in the game and have committed considerable resources to this partnership to forge a genuine strategic alliance that allows new franchisees to tap a low-cost loan while not becoming mired in an endless sea of paperwork, cutting down the time and expense of securing and opening a new business venture.
“It allows franchisees to competently apply for multiple franchise units stretched over time without breaking their wallets,” says Fantastic Sams National Sales Director Jay Capperella, who calls the program a game changer for hair salon franchises. “This is huge.”
Franchise prospects can apply for financing through the normal course of the franchise qualification and approval process. This eliminates complex financial paperwork third-party lenders demand when seeking business funding, and it reduces paperwork overall. When a prospect applies for these low-cost loans, the financial disclosures the applicant provides to Fantastic Sams are also provided to The Bancorp Bank’s financing team. There’s no duplication of paperwork.
Simplified financing process speeds time to Grand Opening
Traditional bank or SBA financing can take months to obtain, and in too many situations, it seems the bank always demands, “just one more form” or an ever-increasing mound of documentation. Through this partnership, Fantastic Sams and The Bancorp Bank simplify the application process and speed up approvals, shaving weeks or even months off the time between application and distribution of funds.
“What The Bancorp Bank has done is develop a program specifically for Fantastic Sams new franchisees that’s designed to make it easier to start-up, to minimize the paperwork and to expedite the approval process as much as possible,” says The Bancorp Bank’s Don Tyson. “This partnership really makes the process easy for both the banker and the franchisee.”
These valuable months are time that you can spend building out your franchise, hiring personnel, training your staff and serving customers. While other hair salon franchise businesses are providing yet another bank statement, you’ll be open for business, attracting new customers and generating sales.
Learn more about the Fantastic Sams hair franchise opportunity
Opening a full-service, no-appointment Fantastic Sams is a remarkably affordable way to enter the $75 billion hair care industry. With an initial investment beginning at just $150,362, and with 3-, 5-, and 10-pack agreements available, you can join current franchisees in this potentially lucrative growth industry.