Do I Need Hair Cutting Experience to Own a Salon Franchise?
Owning a salon franchise is an excellent idea for business people with experience in any industry. Not only do salons offer a service that’s nearly universally needed, but franchise owners also don’t need any prior experience in the haircare industry. Franchises like Fantastic Sams offer a scalable franchise opportunity for new or experienced business owners from any industry. As a salon franchise owner with Fantastic Sams, you don’t have to be involved in daily operations, making it an ideal opportunity for those looking to add a new revenue stream without giving up their day job. So, what should you expect when owning a salon franchise?
Opening a Franchise
The first question any potential franchisee needs to figure out is how to own a franchise. Fantastic Sams tries to make the process as simple and straightforward as possible. First, you’ll be asked to submit an application and be invited to a pre-qualification call. During that call, you’ll have your first interview to discuss your background over long-term goals. Next, you can expect to review the FDD with a representative followed up by a call with the regional director of your market.
Next comes due diligence followed by two calls: an operations call and a financial strategy call. Once the franchise agreement is approved and signed, you’ll go through new owner onboarding. Our comprehensive guidance and training system prepares you for grand opening and beyond. After agreement signing, you should expect to be opening your doors within six to seven months.
Many potential franchise owners wonder if the franchise they’re interested in requires them to be heavily involved in daily operations or more hands-off. With Fantastic Sams salon franchise, you’re able to own a location without having to operate it. Our business model provides franchisees the tools and guidance to succeed while setting up an operational structure with a designated manager. That means you don’t need experience in the haircare industry, and you don’t have to quit your day job.
When you own a franchise, you have access to proven training and support systems. At Fantastic Sams, our business succeeds when yours does. That’s why we provide franchise owners and staff ongoing training and support to help everyone perform at the highest level. Our operations team
Fees and Costs
When you own a franchise, there are certain costs involved. From initial start-up costs to ongoing royalty fees, understanding the full scope of your financial requirements as a franchise owner is a crucial part of learning how to own a franchise. At Fantastic Sams, we look for franchisees with a net worth of at least $500,000 and $100,000 in liquid capital. Our initial franchise fee is $30,000 and estimated total costs are $265,500 To $530,000. After opening, there are a few weekly fees incurred which will be paid directly to Fantastic Sams.
Owning a salon franchise like Fantastic Sams is a smart choice. The service we provide nearly universal. You have access to continuing education for you and your staff to ensure that your business is providing the most updated hair care. Additionally, you have a technology-resistant business that can withstand whatever new inventions are on the horizon. Fantastic Sams offers a simple business in hair care that is perfect for investors serious about scaling. With light inventory, low overhead, and simple operations, owning a salon franchise like ours is a smart bet no matter what your background. Contact us today to find out more.