Cost Cutters Family Hair Care vs Salon Professional Education Company (SPEC) Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Cost Cutters Family Hair Care vs Salon Professional Education Company (SPEC) 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
Salon Professional Education Company (SPEC) Franchise
Investment $148,930 - $316,700$145,500 - $1,111,000
Franchise Fee $39,500N/A
Royalty Fee 6%-
Advertising Fee 4%-
Year Founded 19822004
Year Franchised 19822018
Term Of Agreement 15 years-
Term Of Agreement 15 years-
Renewal Fee --


Business Experience Requirements
 
Cost Cutters Family Hair Care Franchise
Salon Professional Education Company (SPEC) Franchise
Experience
  • General business experience
  • Marketing skills
  • Retail/service industry experience useful
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    Financing Options
     
    Cost Cutters Family Hair Care Franchise
    Salon Professional Education Company (SPEC) Franchise
      In-House/3rd PartyIn-House/3rd Party
    Franchise Fees No/No-/-
    Start-up Costs No/Yes-/-
    Equipment No/Yes-/-
    Inventory No/Yes-/-
    Receivables No/No-/-
    Payroll No/No-/-

    Training & Support
     
    Cost Cutters Family Hair Care Franchise
    Salon Professional Education Company (SPEC) Franchise
    Training On-the-job training: 46.5 hours Classroom training: 24 hours Additional training: As needed-
    Support Purchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Franchisee Intranet Platform-
    Marketing Co-op Advertising Ad Templates Regional Advertising Social media SEO -
    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
    Salon Professional Education Company (SPEC) Franchise
    US Expansion YesYes
    Canada Expansion No-
    International Expansion No-

    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 Salon Professional Education Company (SPEC)

    "SPEC

    Salon Professional Education Company is a network of amazing schools producing salon-ready professionals all across the country. Our leadership team is comprised of seasoned industry executives, educators, franchise experts, and business owners from many walks of life. The diverse nature of this group brings a unique insight and perspective to the beauty school industry and has led to the development of one of the strongest beauty school franchise systems in the nation.

    The total investment necessary to begin operation of a new TSPA, ESI or SPA Salon Professional Education Company beauty school franchised business is $668,000 to $1,111,000 for the model that includes hairstyling and $448,000 to $838,000 for the model that does not include hairstyling. This includes $45,000 that must be paid to the franchisor or its affiliates. This applies regardless of the service mark you may choose for operating your franchise.
    The total investment necessary to convert an existing beauty school is $145,500 to $628,500. This also includes the $45,000 that must be paid to the franchisor or its affiliates, and applies regardless of the service mark you may choose for operating your franchise.