Premier Salon Suite Franchise Receives Prestigious Recognition for Semi-Absentee Opportunity and Scalable Business Model
CARROLLTON, Texas, Aug. 12, 2024 /PRNewswire/ — MY SALON Suite, a salon suite franchise focused on providing beauty, health and wellness professionals a personal space to build their business, has ranked #17 on Entrepreneur‘s second annual Top Brands for Multi-Unit Owners list. The recognition comes amid rapid franchise growth and major acquisitions by the brand, boosting the network to over 330 locations nationwide.
The ranking identifies the brands with the most appeal for prospective franchisees interested in multi-unit ownership, as well as existing franchisees looking to expand their portfolios. To determine the top brands for multi-unit ownership, Entrepreneur examined factors including available discounts to franchisees purchasing multiple units, the average number of units owned by each franchisee and the percentage of multi-unit franchisees in the brand’s network.
“Multi-unit franchising is a pathway to financial freedom, offering diversified revenue streams and reduced dependence on the performance of a single location,” said Mark Jameson, chief development officer of Propelled Brands. “Ranking amid the top 20 of such a prestigious ranking underscores the strength of the MY SALON Suite business model and the incredible growth potential of the brand. As we continue our nationwide expansion, we look forward to providing further opportunities for entrepreneurs to grow their portfolios and build their businesses.”
MY SALON Suite utilizes a semi-absentee model that is ideal for multi-unit and multi-brand franchise partners looking to diversify their portfolio without the need to oversee employees. Most owners only need to dedicate five to 10 hours a week, making the salon suite business model particularly appealing for entrepreneurs in high-demand industries, such as QSR, hospitality and storage. Approximately 80% of MY SALON Suite units are owned by multi-unit owners, and over 50% of franchisees own multiple units.
“I went into business to be able to build something that would positively impact the lives of others and build long-term financial stability for my family,” said Ray Harrigill, multi-unit and multi-brand franchisee with four open MY SALON Suite locations and six additional planned across Louisiana and Mississippi. “We were looking for a business that complemented and leveraged the skills of the team we had in place with our other businesses. We love to see our tenants and customers succeed, and we love to see our team thrive. We are excited about the growth and future of the brand.”
The initial investment for a MY SALON Suite franchise is approximately $984,999 – $1,577,236, including a $50,000 franchise fee. Ideal candidates have a net worth of $1.5 million, of which $500K is liquid. MY SALON Suite also offers special incentives for multi-unit signings, with a reduced $99,000 combined franchise fee when signing for three units or $150,000 for six units.
For more information about MY SALON Suite franchise opportunities, visit https://www.mysalonsuite.com/franchise, or contact Mark Jameson at [email protected] or 214-346-5679.
To view MY SALON Suite in the 2024 Top Brands for Multi-Unit Owners list, pick up the July/August issue of Entrepreneur magazine or find the list online at https://www.entrepreneur.com/franchises/directory/top-multiunit-ranking.
About MY SALON Suite®:
MY SALON Suite® is a franchise designed for individuals with an entrepreneurial spirit who are interested in diversifying their portfolio while enjoying a semi-absentee lifestyle. The company was established with the aim to inspire and empower the modern-day salon owner, providing a unique opportunity for a range of beauty and health professionals to successfully manage their businesses. MY SALON Suite Members are provided with ongoing training, support, and a robust referral network to bolster their business growth. The brand, which is ranked in the top 100 on Entrepreneur’s highly competitive 2024 Franchise 500® List, is widely recognized for its rapid expansion and significant success.
As a service-oriented business in the Propelled Brands® family, MY SALON Suite boasts over 330 locations in 35 states across the United States and Canada, with 165 franchisees and over 8,500 Members. To learn more about MY SALON Suite®, visit mysalonsuite.com. For franchise opportunities, contact Mark Jameson ([email protected] or call 214.346.5679).
SOURCE MY SALON Suite
