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Below is an in-depth analysis and side-by-side comparison of First Choice Haircutters vs Inaara MedSpas including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $163,880 - $302,600 | $250,000 - $600,000 |
Franchise Fee | $29,500 - $49,500 | $100,000 |
Royalty Fee | 5% - 7% | 5% |
Advertising Fee | 3% | - |
Year Founded | 1980 | 2002 |
Year Franchised | 1982 | 2003 |
Term Of Agreement | 10 years | 10 years |
Term Of Agreement | 10 years | 10 years |
Renewal Fee | To $3K | - |
Business Experience Requirements |
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Experience | ||
Financing Options |
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In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | No/No |
Start-up Costs | No/Yes | No/No |
Equipment | No/Yes | No/No |
Inventory | No/Yes | No/No |
Receivables | No/No | No/No |
Payroll | No/No | No/No |
Training & Support |
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Training | Classroom Training: 5 days | - |
Support | Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection | Newsletter, Toll-free phone line, Internet, Security/safety procedures, Field operations/evaluations |
Marketing | Co-op Advertising Ad Templates Regional Advertising Social media SEO | Ad slicks, National media, Regional advertising |
Operations |
63% of all franchisees own more than one unit Number of employees needed to run franchised unit: 6
Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators) |
Number of employees needed to run franchised unit: 4 Absentee ownership of franchise is allowed. (100% of current franchisees are owner/operators) |
Expansion Plans |
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US Expansion | - | Yes |
Canada Expansion | No | No |
International Expansion | Yes | No |
NO LONGER FRANCHISING