Franchise

The Franchise I chose to research was Fantastic Sam's Hair Salon. The first Fantastic Sam’s Hair Salon opened in 1974 and starting franchising in 1976. The reason why I think that Fantastic Sam’s Hair Salon is so attractive is that a hair care business is large, growing and immune to other competitive salons. Also the salon is nationwide including Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon Territory. Hair is always growing and the more services and personal attention by today's consumer creates a great opportunity for the right hair salon business model. I love salons and so does many other women because everyone needs their hair done no matter what.

Fantastic Sam’s Hair Salon has not been on the news but has been in a lot of magazines for many good things about the salon. As a hair salon franchise they have been featured in some of the top industry and business publications:

--Entrepreneur Magazine, Franchise Times, Black Enterprise, Poder Enterprise Magazine, USA Today. Their opion is to join a Franchise that is recession resistant, is a leader in its category, does not require previous experience, has a low investment and offers single and multi-unit development opportunities because then you will get into a great investment.

   

The term of agreement right now for the salon is ten years which hopefully works out. The franchise fee for the franchise is $25,000-$30,000. The royalty fee has a fixed-fee service and the renewal fee varies. Many other franchisees must have to pay for advertising fees, equipment and inventory. I could not find if the franchisor would offer to help any financing but they support newsletters, meetings, grand opening, internet, security/safety procedures, and field operations/evaluations. For marketing they have co-op advertising, ad slick, national medial, and regional advertising. They also offer training for 1 week salon fundamentals but its only available in MA.50% of all franchisees own more than one unit and the number of employees needed to run a franchised unit is 8. When I am older I want to open up my own salon so I thought this franchise would be very interesting to look at.