FANTASTIC SAMS Franchise Startup Cost, Profit & Opportunities
Fantastic Sams Salon is considered to be one of the largest salon franchises in the world. The company has redefined salon services that a lot of people consider them as not just a salon center but a family center as well. For this reason, so many families want to understand how much is a Fantastic Sams franchise?
Fantastic Sams has totally redefined the salon space. It will be quite difficult for an individual not to notice their new concept center in busy retail districts and shopping malls across the country.
At Fantastic Sams you don’t even need to book an appointment ahead. Every member of the family can walk in, including children and women, and have the best hair treatment. Their customers have been loyal to them over the years and this is simply due to the great service they get at the centres.
FRANCHISE INFORMATION ABOUT THE COMPANY
Fantastic Sams was established in 1974 and they started selling franchises just 2 years after establishment in the year 1976. The fixed fee and no appointment concepts started since the inception of the company and this one of the reasons why they have been able to gain so much ground.
The company has locations in both the United States of America and Canada. And the services they render apart from hair cuts are colouring services, perming, shampooing, trimming and bearding. They also sell their own brands of conditioners, shampoo and styling aids for women and men.
IS FANTASTIC SAMS A FRANCHISE?
A lot of business entrepreneurs sometimes as is Fantastic Sams a Franchise. Yes the company can be considered a franchise because they sell franchise opportunities to the public. They have been in the business of selling franchises since 1976 with about 40 years of franchising experience.
BENEFITS OF BUYING A FANTASTIC SAMS FRANCHISE
When a franchisee decides to buy into Fantastic Sams Franchise, they tend to get the following benefits:
- The opportunity to work with a recognised national brand that has a working franchise and business model.
- They get to also enjoy the security offered by a large organization as Fantastic Sams
- They will also benefit immensely from the great support of a very large chain of business such as that offered by Fantastic Sams.
Another thing to consider is the fact that a lot of people want to look good and irrespective of the economy, they will always spend money to look good. There are a lot of salons to choose from, but some take the lead.
Fantastic Sams Salon is one of the industry leaders and everyone wants to associate with established outfits. This is a form of leverage for the Fantastic Sams Franchisee.
HOW MUCH DOES A FANTASTIC SAMS FRANCHISE COST?
The Fantastic Sams Franchise cost is the summation of all the investments needed to establish a franchise unit with the company. For an entrepreneur to own a franchise unit, the company expects them to have an initial investment of about $150,000 to $300,000 and also a net worth of about $300,000 and a liquid cash of $70,000
THE FANTASTIC SAMS FRANCHISE FEE
The Fantastic Sams franchise fee is payable to the company before the franchise agreement terms is even signed and it is the payment that will give the franchisee the access to the license to use the company’s brand identities to run their business. The initial franchise fee is $30,000 and this is non refundable and will also be valid for a certain period of time, which upon expiration will be due for renewal.
New franchisees with Fantastic Sams will also be expected to make an ongoing royalty fee which is quite varying. A compulsory as royalty payment of about $142 weekly is also payable to the company.
HOW MUCH DOES A FANTASTIC SAMS FRANCHISE MAKE?
Fantastic Sams franchise owners average income will depend on a lot of factors which will range from the location of the franchise unit, to the level of effort that the manager inputs into the business. Even if they have a well performing business model, factors for success still need to be implemented for the business to grow. The actual earning of a franchise unit cannot be ascertained, but information on this can be acquired from existing franchise owners with Fantastic Sams
The training for every new franchise with Fantastic Sams will involve an on the job training as well as a classroom session. Training holds for 5 days and will be held continuously in the course of operating the franchise unit. This is to ensure that every franchise location of the company is kept up to date on the latest trend in the salon industry.
Fantastic Sams does not offer any form of indirect or direct financing to their franchisees. And neither do they guaranty any form of franchisee’s note. Franchisees that need extra funding can apply to 3rd party affiliate of the salon.
The period of agreement for every franchise unit is 10 years. This upon expiration can then be renewed for another 10 years if the franchisee is able to meet up with the company’s terms for term renewal.
HOW TO OPEN A FANTASTIC SAMS FRANCHISE
Information delivered in this article has taken a deep look into a Fantastic Sams Franchise. But more details on how to open a Fantastic Sams franchise can be gotten on the company’s website. You will be expected to fill a form, which you then submit.
If your application is received and considered, the company will feed you back and then take you to the next process of opening your franchise unit.