Phenix Salon Suites is a salon suite rental business providing private or shared workspaces for beauty professionals. The franchise offers salon spaces for services like hair, nails, and makeup.
Key Insights
- Phenix Salon Suites began with a vision to empower beauty professionals by offering them independent salon spaces. The business model provides individual, fully-equipped suites for stylists and other beauty practitioners, allowing them to operate their own businesses with flexibility and control over their services and pricing.
- The franchise operates by leasing private, furnished salon suites to independent beauty professionals. These suites are designed to be move-in ready, providing an efficient and professional environment for service providers to serve their clientele without the overhead of traditional salon ownership.
- Phenix Salon Suites is part of the personal care services industry, a sector focused on enhancing individual appearance and well-being. This industry includes a wide range of beauty and wellness services, driven by consumer demand for self-care and professional grooming.
Franchise Fee and Costs to Open
Exploring the financial picture of Phenix Salon Suites gives insight into both the upfront commitment and the potential revenue opportunity. According to FDD Item 7, opening this franchise typically involves an investment in the range of $721,109 - $1,447,969, along with a franchise fee of $52,500 - $52,500.
Financial Performance and Revenue
Yearly gross sales of $425,946 and estimated earnings of $63,892 - $85,190 show the potential financial performance of this franchise. These figures are crucial for prospective franchisees as they help to project revenue and profitability. They offer insight into the business's ability to generate income and can be used to compare its performance against other investment opportunities. The Franchise Payback Period of 15.0-17.0 provides an estimation of the time it might take for an owner to recover their initial investment. This metric is a key consideration for anyone evaluating the financial viability of a franchise, as it relates directly to the speed at which the business can become profitable. A shorter payback period can indicate a faster return on capital, which is a significant factor in making an informed decision about a franchise investment.
Training and Resources
Phenix Salon Suites provides comprehensive initial training for new franchisees. This program offers an in-depth look at operational procedures and brand standards. The training typically lasts for a set duration and is conducted at a designated Phenix Salon Suites location. The franchisor also offers ongoing resources and support to assist franchisees.
Legal Considerations
Legal considerations for a Phenix Salon Suites franchisee are outlined in the Franchise Disclosure Document (FDD) and the Franchise Agreement. Note that this franchise discloses lawsuits and/or bankruptcy information in its FDD, which may impact your evaluation. Subscribe now to access more details and be sure to consult a qualified attorney before proceeding.
Challenges and Risks
Operating a salon suite franchise involves navigating local market dynamics, where understanding established competitors and identifying underserved beauty niches is key. Franchisees will manage varied operational aspects, from leasing individual suites to ensuring consistent service delivery across a diverse group of independent beauty professionals. Reliance on specific suppliers for salon amenities and professional products also presents a consideration for maintaining seamless operations.
Franchise Datasheet
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