The Ten Spot is a beauty bar and grooming boutique offering services such as manicures, pedicures, and waxing. The franchise focuses on providing a high-end grooming experience in a modern, chic setting.
Key Insights
- The Ten Spot began with a vision to provide accessible and convenient beauty services. Its operational model centers on offering a curated menu of essential beauty treatments, delivered efficiently in a welcoming environment. This approach has fostered a loyal customer base seeking reliable grooming and self-care solutions.
- The business operates within the personal care and beauty services sector, an industry characterized by consistent demand for a range of grooming and aesthetic enhancements. Consumers regularly seek services that contribute to their well-being and appearance, creating a stable market for the franchise.
- The franchise model is built upon replicating a proven service delivery system. Franchisees benefit from established operational procedures, brand recognition, and a framework for customer engagement. This allows for scalable growth and consistent brand experience across multiple locations.
Franchise Fee and Costs to Open
Exploring the financial picture of The Ten Spot 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 $377,500 - $530,000, along with a franchise fee of $50,000 - $50,000.
Financial Performance and Revenue
Yearly gross sales of $487,672 and estimated earnings of $68,275 - $87,781 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 6.3-8.3 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
The Ten Spot provides comprehensive training for new franchisees. Initial training lasts two weeks and is conducted at The Ten Spot's headquarters. This program offers in-depth instruction on brand standards and operational procedures. The franchisor also offers resources to assist in establishing and running the business. The Ten Spot recommends leveraging these tools for a successful launch.
Legal Considerations
Legal considerations for a The Ten Spot franchisee are defined by the Franchise Disclosure Document (FDD) and the Franchise Agreement. This franchise does not disclose lawsuits or bankruptcy information in its FDD, but prospective franchisees should still review all terms thoroughly. Consultation with a qualified attorney is essential before making commitments.
Challenges and Risks
A franchisee may encounter considerations regarding local market saturation, requiring a differentiated approach to attract and retain clients. The operational complexity of managing staff, inventory, and service quality demands diligent oversight. Additionally, reliance on specific product suppliers and ensuring consistent availability for core services are vital factors for smooth day-to-day operations.
Franchise Datasheet
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