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Below is an in-depth analysis and side-by-side comparison of Hair Cuttery vs The Weave Shop including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
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Investment | $120,500 - $283,000 | $94,200 - $136,900 |
Franchise Fee | $15,000 - $25,000 | $20,000 |
Royalty Fee | 4.5-5% | 6% |
Advertising Fee | - | - |
Year Founded | 1974 | 2008 |
Year Franchised | 2004 | 2011 |
Term Of Agreement | 10 years | - |
Term Of Agreement | 10 years | - |
Renewal Fee | 25% of franchise fee | - |
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/Yes | -/- |
Start-up Costs | No/Yes | -/- |
Equipment | No/Yes | -/- |
Inventory | No/No | -/- |
Receivables | No/No | -/- |
Payroll | No/No | -/- |
Training & Support |
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Training | - | - |
Support | - | - |
Marketing | - | - |
Operations | - | - |
Expansion Plans |
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US Expansion | - | Yes |
Canada Expansion | No | - |
International Expansion | No | - |
NO LONGER FRANCHISING
For franchisees that enter into a
Development Agreement for the establishment of multiple SALONS, the initial
franchise fee is as follows:
*
First SALON $25,000
*
Second to Fifth SALON $20,000
*
Sixth or more SALONS $15,000
The fee for the first SALON is paid
to us when you sign the Development Agreement. The fees for the additional
SALONS are paid when you sign the Franchise Agreement for each SALON.
In addition to the initial franchise
fee for each SALON, you must also pay us, when you sign the Development
Agreement, a multiple unit development fee of $5,000 multiplied by the number
of SALONS to be developed under the Development Schedule.
For illustrative purposes only, if
you enter into a Development Agreement for ten SALONS, the initial ''franchise
fee and development fee payable to us at the time you enter into the agreements
will be as follows:
Initial Franchise Fee $25,000
Units Two through Ten $45.000 (9 x $5,000)
Total Fees Due $70.000
Multiple unit franchisees can expect
to have additional capital and operating expenses which single unit franchisees
may or may not incur. For example, we may provide our multi-SALON franchisees a
continuing royalty credit of V2 of one percent. To qualify for this credit you
will likely require an office, training capabilities, multi-unit management and
other support personnel. We have not included these additional costs in the
above projections as they will likely not occur with the opening of your first
SALON, nor are they reasonably estimated due to the uniqueness of each
multi-SALON franchisee''s independent business determinations.
Unless otherwise noted above, all of
the above fees are uniform and none of the above fees are refundable to you.
The Weave Shop is an express service salon specialized in hair weave and braids. The Weave Shop Franchise model is designed to build a brand and a profitable operating system for each franchise partner that allows a specialized, fun atmosphere focusing on this industry niche. It is the mission of The Weave Shop to provide quality hair care services at an affordable price, while providing good paying jobs to our employees and enhancing the communities we service. We are open 7 days a week. Check your location for appointment and walk-in days. You are welcome to walk in for a free consultation during our business hours. Unfortunately we cannot allow children unless being serviced. Latonya Saunderson, founder and co-owner of The Weave Shop (TWS), is a dynamic entrepreneur whose innovative weaving technique is revolutionizing the industry. She discovered her true calling, working for a hair salon in the Atlanta area. Feeling so inspired, Saunderson decided to open her own salon. Coming from a family of entrepreneurs made starting a business easy for Latonya. With an undeniable passion for hair care and the beauty industry and by building upon a successful idea, the "express weave service," The Weave Shop (TWS) was born. Latonya, who is a licensed cosmetologist since 1994, wanted to provide clients with a reasonable and cost effective way to enjoy a great style - to look great for less! "There is no reason to pay hundreds of dollars for extensions, at The Weave Shop the base price for our service is just $50," says Saunderson. After opening the doors in a small office space (400 sq ft), with herself styling and a braider, Saunderson within four months outgrew the space and moved to a larger location in the Atlanta area. With the opening of her first storefront in Decatur, GA, her brother Kevin and his wife Sharmeela, embraced her vision and TWS's potential and became business partners. Kevin is the President of the franchise entity. Sharmeela is the Creative Director of the company, while Latonya still develops hairstyle process. This dynamic combination and joining of minds helped to transform TWS into a family owned business. Understanding the need to pass on her entrepreneurial skills to her daughter, Ijaaz Saunderson, an inspiring model and hairstylist in her own right, Latonya brought her into the business, serving the joint role of model and hairstylist: she is one of the faces of TWS and a top stylist. Another face of TWS is Latonya's sister Michelle, making TWS truly a family owned and operated business. Currently, in addition to the five locations in Georgia, with one opening soon, there are two locations in New Jersey, and four open in Michigan with two opening soon. "I want The Weave Shop to be all over the country", says Saunderson. With celebrity endorsements from VH1's Basketball Wives reality star Jennifer Williams, Atlanta's own Tiny (from Escape and Tiny and Toya), Risky (winner of Charm School), and Sarah Stokes (Making of the Band season 2), in addition to the Musical group OMG, The Weave Shop is the fastest growing hair extension salon in the United States. As the business continues to grow franchising opportunities will be made available. Ambitious, goal oriented, a vibrant personality and warm spirit, is what makes Latonya Saunderson the leader in her field today.