By Tracy Stapp Herold – Magazine Contributor – November 18, 2019
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
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.
Initial Investment: Low – $330,925 High – $1,380,550
+13.9%+28 UNITS (1 Year) +50.3%+77 UNITS (3 Years)
Franchisor is seeking new franchise units throughout the U.S. and in the following regions/states: Canada, Western Europe
Franchising Since: 2010 (9 Years)
Corporate Address: 1084 N. El Camino Real, #B427 Encinitas, CA 92024
CEO: Jason Rivera
Initial Investment: $330,925 – $1,380,550
Net-worth Requirement: $750,000
Liquid Cash Requirement: $250,000
Initial Franchise Fee: $45,500 – $45,500
Ongoing Royalty Fee: $0.26/sq. ft.
Ad Royalty Fee: $0.06/sq. ft.
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
On-The-Job Training: 13 hours
Classroom Training: 15 hours
Absentee Ownership: Allowed
To read online visit: https://www.entrepreneur.com/franchises/opp/333857