MY SALON Suite Ranked on Franchise Business Review’s List of the Top Franchises for 2024 Amid Rapid Network Expansion
(CARROLLTON, TX) Jan. 19, 2024 — 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, announced today it has been recognized among the top 200 franchises by Franchise Business Review as rated by franchise business owners. This is the 19th annual ranking of the 200 best franchise opportunities. The list is available at https://franchisebusinessreview.com/lists/top-200-franchises/.
“This recognition is a reflection of the remarkable growth that MY SALON Suite has experienced in the past year, and underscores our commitment to providing a compelling business opportunity and outstanding support to our franchisees,” said Stacy Eley, Brand President of MY SALON Suite. “Our semi-absentee model has proven to be an ideal choice for multi-unit and multi-brand franchise partners seeking to diversify their portfolios. As we continue to expand our network and offer a variety of franchising options, including through multi-unit packs and conversions, I look forward to the continued achievements and milestones that lie ahead for MY SALON Suite.”
Franchise Business Review, a market research firm that performs independent surveys of franchisee satisfaction and employee engagement, provides the only rankings and awards for franchise companies based solely on actual franchisee satisfaction and performance. Franchise Business Review publishes its rankings of the top 200 franchises in its annual Guide to Today’s Top Franchises.
MY SALON Suite was among over 375 franchise brands, representing more than 35,000 franchise owners, that participated in Franchise Business Review’s research. MY SALON Suite’s franchisees were surveyed on 33 benchmark questions about their experience and satisfaction regarding critical areas of their franchise systems, including training & support, operations, franchisor/franchisee relations, and financial opportunity. MY SALON Suite franchisees are provided ongoing training, support and a strong referral network to help their business generate a six-figure income, as well as a semi-absentee model that allows franchisees to own a franchise without needing to manage employees or oversee every operation.
“We were looking for a proven, but growing franchise concept to help diversify our brand portfolio. MY SALON Suite checked all of the boxes from an investment, time demand and profitability standpoint,” said Eric Goodman, MY SALON Suite franchisee of multiple locations in Columbus, Ohio. “We feel like we’re in great hands with the MY SALON Suite team. From the discovery and fact-finding part of the process, into onboarding and beyond, we’ve been given all of the tools and contacts we need to set us up for success.”
MY SALON Suite’s survey data showed the following:
97% of franchisees agree that their fellow franchisees are supportive of each other.
90% of franchisees agree that they support the brand.
91% of franchisees agree that they enjoy being a part of this organization.
“Franchisee satisfaction continues to be the leading indicator of franchise performance and system health, and we are pleased to report that our latest research shows satisfaction has remained at some of the highest levels in the past 19 years. In fact, our survey results show that three out of four franchise owners would recommend their brand to others. That’s extremely encouraging news for franchise owners and anyone considering investing in a franchise,” said Michelle Rowan, president and COO of Franchise Business Review. “As an independent research firm, Franchise Business Review is committed to helping prospective franchisees get an objective view of the best franchise opportunities available based on actual feedback from the people who own them. Each of the award winners on this year’s list of the 200 Top Franchises received stellar ratings from their franchisees in the areas crucial to success in operating a franchise, including training & support, leadership, innovation, culture, and financial opportunity.”
The initial investment for a MY SALON Suite franchise is approximately $823,344 – $2,241,800, including a $50,000 franchise fee. Ideal candidates have a net worth of $1.5 million, of which $500K 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.
Visit FranchiseBusinessReview.com to see the full description of the 2024 Top Franchises.
About MY SALON Suite®:
MY SALON Suite® is a franchise designed for individuals with an entrepreneurial spirit who are interested in diversifying their portfolio while enjoying a semi-absentee lifestyle. The company was established with the aim to inspire and empower the modern-day salon owner, providing a unique opportunity for a diverse range of beauty and health professionals to successfully manage their businesses. MY SALON Suite® Members are provided with ongoing training, support, and a robust referral network to bolster their business growth. The brand, which is ranked in the top 100 on Entrepreneur’s highly competitive 2024 Franchise 500® List, is widely recognized for its rapid expansion and significant success.
As one of the service-oriented businesses in the Propelled Brands family, MY SALON Suite® boasts over 330 locations in 35 states across the United States and Canada, with 165 franchisees and over 8,500 Members. To learn more about MY SALON Suite®, visit mysalonsuite.com. For franchise opportunities, contact Mark Jameson (firstname.lastname@example.org or call 214.346.5679).