MY SALON Suite vs Salon Professional Education Company (SPEC) Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of MY SALON Suite 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
 
MY SALON Suite Franchise
Salon Professional Education Company (SPEC) Franchise
Investment $713,738 - $1,603,518$145,500 - $1,111,000
Franchise Fee $50,000 - $200,000N/A
Royalty Fee 5.5%-
Advertising Fee 1%-
Year Founded 20102004
Year Franchised 20122018
Term Of Agreement --
Term Of Agreement --
Renewal Fee --


Business Experience Requirements
 
MY SALON Suite Franchise
Salon Professional Education Company (SPEC) Franchise
Experience --

Financing Options
 
MY SALON Suite Franchise
Salon Professional Education Company (SPEC) Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees -/Yes-/-
Start-up Costs -/Yes-/-
Equipment -/Yes-/-
Inventory -/--/-
Receivables -/--/-
Payroll -/--/-

Training & Support
 
MY SALON Suite Franchise
Salon Professional Education Company (SPEC) Franchise
Training On-The-Job Training: 12 hours Classroom Training: 20 hours-
Support Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection -
Marketing Co-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app-
Operations --

Expansion Plans
 
MY SALON Suite Franchise
Salon Professional Education Company (SPEC) Franchise
US Expansion YesYes
Canada Expansion --
International Expansion Yes-

Company Overviews

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.





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.