Entrepreneur: The Hottest Franchise Categories of 2020 featuring Phenix Salon Suites

Kristin Duim

The Hottest Franchise Categories of 2020

Get to know 347 franchises in trend-topping industries that will continue to boom next year (and likely beyond).

By Tracy Stapp Herold – Magazine Contributor – November 18, 2019

This story appears in the December 2019 issue of Entrepreneur.

Beauty/Grooming

From haircare to hair removal, facials to pedicures, services that help people look and feel their best continue to be a winning formula in the franchise world. And while many of these services traditionally targeted women, franchises aimed at men and children are proving that their appeal is universal.

To read online visit: https://www.entrepreneur.com/article/342208

Phenix Salon Suites Franchising LLC

Phenix Salon Suites Franchising LLC is ranked #197 in the Franchise 500!

BIO

Gina Rivera’s family has been involved in the salon industry for over 75 years, and she continued the tradition by becoming a licensed hair dresser. In 2007, they opened Phenix Salon Suites (named for their son Phenix,) in order to offer salon professionals an alternative to either renting a booth in an existing salon or dealing with the challenges of owning their own salon. Franchising began in 2010. Phenix franchisees offer month-to-month leasing of suites for hair stylists, nail technicians and other salon professionals to run their businesses out of.

COST

Initial Investment: Low – $330,925 High – $1,380,550

UNITS

+13.9%+28 UNITS (1 Year) +50.3%+77 UNITS (3 Years)

WHERE SEEKING FRANCHISEES:

Franchisor is seeking new franchise units throughout the U.S. and in the following regions/states: Canada, Western Europe

About

Founded: 2007

Franchising Since: 2010 (9 Years)

Corporate Address: 1084 N. El Camino Real, #B427 Encinitas, CA 92024

CEO: Jason Rivera

Financial Requirements

Initial Investment: $330,925 – $1,380,550

Net-worth Requirement: $750,000

Liquid Cash Requirement: $250,000

Ongoing Fees

Initial Franchise Fee: $45,500 – $45,500

Ongoing Royalty Fee: $0.26/sq. ft.

Ad Royalty Fee: $0.06/sq. ft.

Financing Options

Phenix Salon Suites Franchising LLC has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Veteran Incentives: 20% off franchise fee