Entrepreneur: The Hottest Franchise Categories of 2020 featuring Phenix Salon Suites
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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).
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
Support Options
Ongoing Support
- Purchasing Co-ops
- Newsletter
- Meetings/Conventions
- Grand Opening
- Online Support
- Security/Safety Procedures
- Field Operations
- Site Selection
- Proprietary Software
- Franchisee Intranet Platform
Marketing Support
- Ad Templates
- National Media
- Regional Advertising
- Social media
- SEO
- Website development
- Email marketing
On-The-Job Training: 13 hours
Classroom Training: 15 hours
Absentee Ownership: Allowed
To read online visit: https://www.entrepreneur.com/franchises/opp/333857
