My Salon Suite
My Salon Suite offers turnkey salon suite studios for beauty and health services in luxury environments. Known for providing established franchises and development opportunities, it operates in the professional salon services industry.
My Salon Suite franchise FAQ
How much does it cost to open one — the total initial investment?
The total estimated initial investment for opening one Franchised Business ranges between $994,971 and $1,820,417. This figure includes a mandatory payment of $50,000 to the franchisor or its affiliates [p.1].
What is the initial franchise fee?
The initial franchise fee is $50,000 and includes tuition for you and one other individual to attend the proprietary initial training program. This fee is due in full at signing of the Franchise Agreement and is nonrefundable [p.17].
What are the ongoing royalty and advertising fees?
The ongoing monthly royalty fee is based on a percentage of Gross Revenues. For the first six months, it is 2.75%, and from the seventh month onwards, it is 5.5%. Additionally, there are ongoing fees related to the advertising cooperative, where the company earns 6% of the advertising cooperative's sales to parties other than FASTSIGNS franchises [p.308].
How long is the initial franchise agreement, and can I renew it?
This isn't specified in the excerpts.
Can I sell or transfer my franchise, and what does that require?
The transferee must execute the franchisor's then-current franchise agreement and Transfer Addendum [p.160]. The franchisor can refuse to permit a transfer of ownership except for good cause [p.6(g)]. Additionally, if the sale involves Washington, the Transfer Addendum attached as Attachment I to the Agreement forms an integral part of all related agreements [p.244].
On what grounds can the franchisor terminate the agreement?
The franchisor can terminate the agreement on any grounds available by law, as stated on [p.240]. However, this must comply with Virginia Retail Franchising Act requirements, which prohibit cancellation without reasonable cause, as noted on [p.243].
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts.
Do I get an exclusive or protected territory?
Yes, you receive an exclusive territory upon execution of your lease, known as the "Protected Territory" [p.55]. This territory is where the franchisor will not open, operate, or license any third party to own or operate a Franchised Business utilizing the Marks [p.56]. The size and boundaries of your Protected Territory are determined by the franchisor in its sole discretion and may vary based on the location and demographics surrounding your Approved Location [p.55].
What training and ongoing support does the franchisor provide?
The franchisor provides initial training through My Salon Suite University, which includes online or on-demand education and can be converted to in-person training. This training is mandatory and must be completed before opening the Franchised Business [p.53, p.129, p.134]. Additionally, the franchisor offers ongoing consultation and advice regarding the management and operation of the Franchised Business, which may include on-site visits or remote communication [p.129]. This support is provided at the franchisor's discretion and can be requested by the franchisee for an additional fee if more extensive assistance is needed [p.129].
How many franchised outlets are there, and how many have closed or been terminated?
As of December 31, 2024, there were 31 franchised locations operating. The single company center, NTG, was closed effective June 2024, but this is the only specific closure mentioned in the excerpts related to franchise terminations. [p.300]
Does the franchisor share any financial performance or earnings information?
The franchisor can provide actual records of an existing outlet if you are purchasing one. However, they do not make any representations about a franchisee's future financial performance or past financial performance of company-owned or franchised outlets, except for providing actual records in the case of an existing outlet. If you receive other financial performance information or projections, you should report it to specified entities as outlined in the FDD [p.89].
What am I restricted to selling, and where must I buy supplies?
You are restricted to selling only those Approved Products and Services authorized by the franchisor, which must meet their standards and specifications. You must follow their policies, procedures, methods, and techniques, and sell all types of approved products and services specified by them [p.64]. Additionally, you may have to buy or lease items from the franchisor or a limited group of suppliers they designate, as these items might be more expensive than those available elsewhere [p.4].