|
Below is an in-depth analysis and side-by-side comparison of First Choice Haircutters vs Salons by JC including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $163,880 - $302,600 | $722,875 - $1,357,700 |
Franchise Fee | $29,500 - $49,500 | $50,000 |
Royalty Fee | 5% - 7% | 5.5% |
Advertising Fee | 3% | Set by you |
Year Founded | 1980 | 1998 |
Year Franchised | 1982 | 2008 |
Term Of Agreement | 10 years | - |
Term Of Agreement | 10 years | - |
Renewal Fee | To $3K | - |
Business Experience Requirements |
||
Experience | - | |
Financing Options |
||
In-House/3rd Party | In-House/3rd Party | |
Franchise Fees | No/No | -/Yes |
Start-up Costs | No/Yes | -/Yes |
Equipment | No/Yes | -/Yes |
Inventory | No/Yes | -/Yes |
Receivables | No/No | -/Yes |
Payroll | No/No | -/Yes |
Training & Support |
||
Training | Classroom Training: 5 days | Training will be provided without charge for up to 2 people over a 1 week period at our headquarters in Texas or a location determined by us. On-The-Job Training: 7 hours Classroom Training: 12 hours |
Support | Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection | Purchasing Co-ops Newsletter Meetings/Conventions Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform |
Marketing | Co-op Advertising Ad Templates Regional Advertising Social media SEO | Ad Templates Regional Advertising Social media SEO Website development Email marketing Loyalty program/app |
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) | - |
Expansion Plans |
||
US Expansion | - | Yes |
Canada Expansion | No | - |
International Expansion | Yes | - |