Fantastic Sams Franchise Gets New Owner in Nashville
Bala Srinivasan purchases ten locations — and plans ten more!
Bala Srinivasan knows a thing or two about what opportunity looks like. That’s why the entrepreneur has purchased ten existing Fantastic Sams salon franchises in the Nashville area and has his sights set on opening up to ten more in the next few years.
“This is the kind of purchase-and-expand opportunity that is available for the right investors throughout the Fantastic Sams system,” says Don Welsh, a business consultant with Fantastic Sams franchise. “Between the New Image Salon design and our unique financing arrangement with The Bancorp Bank, entrepreneurs are turning to Fantastic Sams as the go-to place for a strong business that they can scale — and scale quickly.”
Since 1974, Fantastic Sams has been the pioneer no-appointment, full-service family salon. We have led the hair salon franchise industry, a core component in the $75 billion hair care market. With the introduction of our New Image Salon design, customers are rediscovering our innovative brand, and franchise owners are attracting new generations of salon customers to our resurgent salon. Now, we’ve identified more than a dozen markets throughout the system where you can purchase existing units, remodel them and expand into new units — all while leveraging our partnership with The Bancorp to grow your business empire.
While the New Image Salon and our financing program are powerful motivators, they’re hardly the only reasons to consider owning a hair salon franchise. Here are just a few reasons why we think you should take a closer look at Fantastic Sams.
The hair salon industry is virtually recession-proof
When you’re considering a business opportunity, it’s one thing to find a model that works well in a strong economy, when employment is high, wages are climbing and people have extra money to spend. It’s another animal altogether when that business performs well during an economic downturn, but that’s precisely what you’ll find in the hair salon industry.
In an August, 2011 feature, The New York Times identified hair salons as a business that thrived through the Great Recession. In fact, the Times reported that, from 2008 through 2009, hair salons grew 8%. At the height of the greatest economic downturn in history, hair salons posted growth nearing double-digits.
“Customers at the salon said they refused to cut back on the money they spent on their hair, even as they scrimped on things like vacations,” the article states. In other words, even though they had less money, they still spent it on their hair.
Fantastic Sams franchise is an affordable business to get into
Getting started with a Fantastic Sams franchise is a remarkably affordable prospect. Starting out as a new salon entrepreneur, you can open a single salon or take advantage of multi-unit incentives by entering into a 3-pack, 5-pack or 10-pack agreement. This is a great way to carve out your own piece of the market for future growth and opportunities.
All the while, you can benefit from our industry-leading financing partnership with The Bancorp, which provides easy-to-obtain financing during the application process. This eliminates dozens of pages of duplicate paperwork and weeks’ worth of waiting for approval. Also, the threshold for approval is much lower than other small business loans, and individuals with a 640 credit score have been approved.
“The Bancorp financing program a great tool to eliminate guesswork and reduce capital demands on your new businesses,” Don says. “In fact, many of our existing owners are turning to the program to expand their own operations into new units. It’s a fast, simple approval process, and that reduces the amount of time it takes you to get up and running.”
Learn more about the Fantastic Sams franchise opportunity
You can start your new Fantastic Sams career with your own salon franchise — a remarkably affordable business opportunity with an initial investment beginning at just over $150,000.