MY SALON Suite®, a salon suite franchise that focuses on providing stylists and beauticians a personal space to build their business and the beauty industry's future, ended 2021 with impressive growth. Under the new ownership of Propelled Brands, the brand opened 40 new locations, rolled out new programs and garnered national recognition.
"Our franchisees continue to exceed our expectations year after year, consistently propelling our brand to new heights through their hard work and dedication," said Ken McAllister, the co-founder and CEO of MY SALON Suite. "With MY SALON Suite joining Propelled Brands, our franchisees are receiving ongoing support and unparalleled resources to position the brand as a true leader among the industry and the local communities it serves."
MY SALON Suite highlights for the year include:
- Suite Management Franchising LLC. acquired by Propelled Brands, the corporate umbrella of FASTSIGNS®, SIGNWAVE®, and NerdsToGo® in June;
- Opening 40 locations in 2021 with more than 60 additional units planned to open in 2022;
- All MY SALON Suite locations experienced record-high occupancies, with system wide occupancies growing by 6.7% from last year and new locations' opening occupancies increasing by 21%;
- Fourteen MY SALON Suite locations expanded to add more suites;
- Forty-three leases were signed for new locations;
- Sixty-one new units were awarded to franchisees;
- Raising more than $120,000 for St. Jude Children's Research Hospital;
- Launching the My Suite Store, an e-commerce site just for members. MY SALON Suite is the first to market with this program where members can shop and order products at wholesale rate and have it shipped right to them;
- Launching the Smart Start Program, a package designed to incentivize growth for Members and beauty pros. Offerings include access to MY Suite Store, free payment processing through Square, education resources, referral incentives, suite customization, and the opportunity to give back through the Suite Relief Fund;
- Ranking 61 in Entrepreneur magazine's Franchise 500;
- Ranking 65 in Entrepreneur magazine's fastest growing franchise worldwide;
- Ranking 1257 in Inc. Magazine's annual Inc. 5000 list;
- Ranking in Franchise Business Review's Top 50 Franchises for Women;
- Ranking in Franchise Times Fast and Serious List;
The initial investment for a MY SALON Suite franchise is approximately $664,738 – $1,479,827, including a $50,000 franchise fee. Ideal candidates have a net worth of $1 million, of which $200K is liquid. Additionally, MY SALON Suite offers a special incentive for veterans and first responders, including paramedics, emergency medical technicians, police officers, sheriffs, and firefighters, which includes a 50% reduction on the franchise fee – a savings of $25,000.
For more information about the MY SALON Suite franchise, visit https://www.mysalonsuite.com, or contact Mark Jameson at firstname.lastname@example.org or 214-346-5679.
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