The Yellow Balloon vs MY SALON Suite Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of The Yellow Balloon vs MY SALON Suite including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
The Yellow Balloon Franchise
MY SALON Suite Franchise
Investment $55,000 - $103,500$713,738 - $1,603,518
Franchise Fee $25,000$50,000 - $200,000
Royalty Fee 4%5.5%
Advertising Fee -1%
Year Founded 19832010
Year Franchised 20002012
Term Of Agreement 5 years-
Term Of Agreement 5 years-
Renewal Fee $2.5K-


Business Experience Requirements
 
The Yellow Balloon Franchise
MY SALON Suite Franchise
Experience
  • General business experience
  • Marketing skills
    		• -

    Financing Options
     
    The Yellow Balloon Franchise
    MY SALON Suite Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees Yes/No-/Yes
    Start-up Costs No/No-/Yes
    Equipment No/No-/Yes
    Inventory No/No-/-
    Receivables No/No-/-
    Payroll No/No-/-

    Training & Support
     
    The Yellow Balloon Franchise
    MY SALON Suite Franchise
    Training -On-The-Job Training: 12 hours Classroom Training: 20 hours
    Support Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperativesNewsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection
    Marketing Co-op advertising, Ad slicks, National media, Regional advertisingCo-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app
    Operations

    Number of employees needed to run franchised unit: 6

    Absentee ownership of franchise is allowed.

    		-

    Expansion Plans
     
    The Yellow Balloon Franchise
    MY SALON Suite Franchise
    US Expansion -Yes
    Canada Expansion No-
    International Expansion NoYes

    Company Overviews

    About The Yellow Balloon

    Nadia Pidgeon opened her first The Yellow Balloon children's hair salon in 1976 near UCLA and a second location five years later near Universal Studios, serving the children of celebrities, like Warren Beatty, and child stars, like the Olsen Twins. The company began franchising in 2000.
    Each The Yellow Balloon salon caters to kids, featuring mini-arcades and toy boxes, and offering young customers balloons, cookies and popcorn. To commemorate a baby's first haircut, parents are given a framed photo, certificate and lock of hair. Adults can also have their hair cut at The Yellow Balloon.

    About MY SALON Suite

    MY SALON Suite comes in at number 6 in the exclusive list of the year’s most promising business opportunities within the franchising industry.

    “We are honored to be recognized as one of the best new franchise concepts,” said Ken McAllister, CEO and President of Suite Management Franchising, the established franchising subsidiary of MY SALON Suite. “This award is a testament to the hard work both our corporate team and our franchise owners have put into making our concept the best it can be.”

    ​“The impact of carefully selecting our franchise owners is a large reason why we have reached consistent success,” added McAllister. “Moving further into 2017, we are looking forward to adding even more talented franchisees to our family and being able to bring our upscale salon suites to a greater number of communities nationwide.”
     
    MY SALON Suite has made a name for itself in major markets throughout North America for being the only salon complex to offer fully-equipped, upscale suites featuring a full-length style station, styling chair, shampoo sink and color station. Additional amenities include a state-of-the-art security system, luxurious bathrooms and an elegant lobby. In addition to the attractive accommodations, members are offered ongoing training and support to grow and develop their business, which includes access to a strong referral network.

    Entrepreneurially spirited individuals interested in investing in the MY SALON Suite franchise will receive a full suite of support services ranging from initial and ongoing training to sales and marketing programs. Plus, MY SALON Suite is a proud partner of the VetFran program. Approved candidates receive 10 percent off of the total franchise fee.

    Franchisees may choose to become a Multi-Unit Operator, earning the right to establish and operate three, six, or ten My Salon Suite or Salon Plaza franchises under a Multi-Unit Option Agreement containing a development schedule, which includes between $99,000 and $200,000 that must be paid to franchisor at the time the Multi-Unit Option Agreement is signed.
    The total investment necessary to begin operation of a three Multi-Unit Operator business is between $713,738 and $1,502,518, which includes $99,000 that must be paid to the franchisor at the time the Multi-Unit Option Agreement is signed.
    The total investment necessary to begin operation of a six Multi-Unit Operator business is between $764,738 and $1,553,518, which includes $150,000 that must be paid to franchisor at the time the Multi-Unit Option Agreement is signed.
    The total investment necessary to begin operation of a ten Multi-Unit Operator business is between $814,738 and $1,603,518, which includes $200,000 that must be paid to franchisor at the time the Multi-Unit Option Agreement is signed.

    "franchiserankingscom"      "Entrepreneur
    #22 on Franchise Rankings.com
    #279 in Franchise 500 for 2020.
    #61 in Franchise 500 for 2021.