New opportunities to open a Fantastic Sams franchise in 5 target citiesAugust 27, 2018
Why these communities could just be the perfect site for our leading franchise hair salon
A hair salon has the power to be the pulse of the community. A client sitting in a stylist’s chair gets up-to-date on the latest hair trends — and perhaps exchanges advice and gossip with his or her favorite stylist. The salon provides a respite for busy parents, always on the go but in need of staying in style. No other franchise hair salon offers fast, high-end service for the entire family quite like Fantastic Sams.
Our salons work well in high-traffic, easily accessible areas with a certain density of middle-income families. Entrepreneurs are encouraged to look at the bigger picture — to focus on cities and markets with growing trends, not just particular shopping centers close to home. New franchisees can count on a lot of support and advice from our leadership team when it comes to picking a location. After making the decision to become a Fantastic Sams franchisee, many new owners want to open the doors to their new salons as fast as possible. That’s why Fantastic Sams created a list of the top potential markets for new salons:
5 places that are perfect for our salon franchise
Portland, Oregon. The creative energy spreading throughout the city encourages people to seek unique hairstyles, and they need to visit the salon often to keep up with the hair trends.Portland currently ranks number one on Forbes’ Best Places for Business and Careers list, thanks to strong growth prospects and a large influx of highly-educated Millennials. Career professionals, budding creatives and young parents setting up shop in Portland will want to take advantage of Fantastic Sams’ family-friendly salons. Portland is surrounded by other opportunities in Oregon, which ranks number 18 in Forbes’ Best States for Business list. According to financial services company Moody’s Analytics, household incomes in Oregon are expected to rise faster than any other state over the next five years, and economic activity is projected to be second best.
Charlotte, North Carolina.Charlotte is the second-largest banking center in the United States after New York City, which is one of the reasons Forbes ranks it as number seven in its Best Places for Business and Careers list. Asheville, Winston-Salem and Greensboro are also target markets for future Fantastic Sams owners looking to open new salons quickly. More and more people are flocking to North Carolina, which ranks number one on Forbes’ Best States for Business list. The state ranks No. 2 in business costs, and labor costs are 10% below the national average.
Austin, Texas.With an artistic vibe and a flair for style, Austin is growing fast. Ranked number eight in Forbes’ Best Places for Business and Careers list, more and more Millennials are moving to Austin. The city ranks number five in job growth, and it is home to the headquarters for many technology corporations. The Lone Star State shines near the top of Forbes’ Best States for Business list, coming in at No. 2. Texas’ $1.6 trillion economy is the second biggest in the U.S., behind California.
Columbus, Ohio. College students take pride in their hair, but they don’t necessarily have the funds, or the time, to maintain it. That’s why students at Ohio State University, the nation’s third-largest campus, could use more Fantastic Sams salons. But the high population of college students isn’t the only reason Forbes ranked Columbus as No. 11 on its Best Places for Business and Careers list. Technology, insurance and education make up major areas of employment, drawing in (and keeping) residents and families. Ohio itself is No. 14 in Forbes’ Best States for Business list, thanks to low business and living costs, top educational facilities and a recent economic boom.
Seattle, Washington. Seattle takes its java seriously and is home to several coffee giants, including Starbucks. All that caffeine keeps this busy city bustling, and is No. 3 on Forbes’ Best Places for Business and Careers list. Fantastic Sams salons can help these fast-paced families find hairstyles that work for them in Seattle, but there are numerous opportunities throughout the state of Washington. It’s No. 11 on Forbes’ Best States for Business list. Washington has the lowest energy costs in the U.S., and the cost of doing business there is 2.1% below the national average.
3 Reasons to open a Fantastic Sams franchise
Scalability. Did you know that 70% of our salons are owned by multi-unit franchisees? By hiring a General Manager and the right teams, franchisees find they can take advantage of consolidating operational expenses, from marketing and advertising costs to ordering supplies. In addition, Fantastic Sams offers financial incentives on multi-unit franchise agreements.
Fast-track financing. Fantastic Sams has partnerships with Radius Bank and The Bancorp Bank, leading national lenders who have set aside capital for qualified Fantastic Sams franchise candidates. The strategic partnerships with Radius Bank and The Bancorp Bank allow new and existing owners to receive financing as part of the application process, rather than spending weeks, or even months, waiting for bank approvals.
Sustainability. Certain needs are a constant, and salon services fall into that category. The $75 billion salon franchise industry continues to grow and tends to be recession-resistant. Fantastic Sams is the oldest full-service unisex salon franchise in the nation, and we’ve grown to more than 1,000 units over the past 40 years.
Our initial investment
Typical startup costs for Fantastic Sams range from $144,862 to $316,006. That’s an accessible investment, whether you’re already looking for business opportunities in your area or you’re an experienced entrepreneur looking for a stable franchise investment with great potential and prime territories that are still available.
No salon background is required. Entrepreneurial experience is a plus. Qualified candidates must have a minimum liquidity of $100,000 and a net worth of around $500,000.