Cost Cutters Family Hair Care vs MY SALON Suite Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Cost Cutters Family Hair Care vs MY SALON Suite including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees
 
Cost Cutters Family Hair Care Franchise
MY SALON Suite Franchise
Investment $148,930 - $316,700$713,738 - $1,603,518
Franchise Fee $39,500$50,000 - $200,000
Royalty Fee 6%5.5%
Advertising Fee 4%1%
Year Founded 19822010
Year Franchised 19822012
Term Of Agreement 15 years-
Term Of Agreement 15 years-
Renewal Fee --


Business Experience Requirements
 
Cost Cutters Family Hair Care Franchise
MY SALON Suite Franchise
Experience
  • General business experience
  • Marketing skills
  • Retail/service industry experience useful
    		• -

    Financing Options
     
    Cost Cutters Family Hair Care Franchise
    MY SALON Suite Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees No/No-/Yes
    Start-up Costs No/Yes-/Yes
    Equipment No/Yes-/Yes
    Inventory No/Yes-/-
    Receivables No/No-/-
    Payroll No/No-/-

    Training & Support
     
    Cost Cutters Family Hair Care Franchise
    MY SALON Suite Franchise
    Training On-the-job training: 46.5 hours Classroom training: 24 hours Additional training: As neededOn-The-Job Training: 12 hours Classroom Training: 20 hours
    Support Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Franchisee Intranet PlatformNewsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection
    Marketing Co-op Advertising Ad Templates Regional Advertising Social media SEO Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app
    Operations Franchisees required to buy multiple units/master licenses; 95% of all franchisees own more than one unit

    Number of employees needed to run franchised unit: 6 - 8

    Absentee ownership of franchise is allowed. (20% of current franchisees are owner/operators)

    		-

    Expansion Plans
     
    Cost Cutters Family Hair Care Franchise
    MY SALON Suite Franchise
    US Expansion YesYes
    Canada Expansion No-
    International Expansion NoYes

    Company Overviews

    About Cost Cutters Family Hair Care

    In 1963, Joe Francis opened the first The Barbers Hairstyling for Men salon in Minnesota. Five years later, the salons began styling women's hair. In 1982, Francis diversified even more, founding family salon Cost Cutters. Twelve Cost Cutters centers opened that first year, and six years later, the 300th salon opened. Today, Cost Cutters is owned by Regis Corporation, a Minneapolis-based company that also owns a host of other hair salons, including City Looks, Regis Salons, Supercuts and We Care Hair.

    Veteran Incentives  $2,500 rebate on first-store franchise fee
    #244 in Franchise 500 for 2020.

    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.