SmartStyle
Family hair salons- 2023 Franchise 500 Rank
-
#386 Ranked #149 last year
- Initial investment
-
$181K - $310K
- Units as of 2022
-
1,610 21% over 3 years
With franchises in nearly all of the states in the U.S., SmartStyle hair salon offers full-service hair care salons with locations in Walmart stores.
SmartStyle is owned by Regis Corporation, which was founded in 1922 by Paul and Florence Kunin. The couple opened the Kunin Beauty Salon, which expanded into a chain of salons located in department stores.
SmartStyle was founded in 1996 and began offering franchises in 2016. The Regis Corporation continues to expand SmartStyle in Walmart locations across the United States. There are over 1,000 SmartStyle franchises located throughout the U.S., to go along with over 50 in Canada. There are also hundreds of corporate-owned SmartStyle locations.
Why You May Want to Start a SmartStyle Franchise
Each SmartStyle salon offers various hairstyling services, including haircuts, styling, coloring, conditioning, perms, waxing, and relaxing services for both men and women. All SmartStyle franchise locations are staffed with trained, professional hairstylists, with salon services offered at competitive prices.
SmartStyle franchise salons are located in Walmart stores, which means the stores may be highly trafficked and well-known to others. A SmartStyle salon may be relevant in any community and economic climate because there is typically a need for professional hair care and styling. Professional hair care is an industry that resists technological obsolescence and outsourcing because hair treatments can only be done in-person.
What Might Make a SmartStyle Franchise a Good Choice?
SmartStyle has been ranked in Entrepreneur's Franchise 500 several times in the past few years. This ranking is based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.
To be part of the SmartStyle franchise team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising fees and royalty fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.
Opening a SmartStyle franchise may offer a more predictable outcome than investing in a completely new brand that may struggle to thrive in an already crowded and competitive industry.
How To Open a SmartStyle Franchise
As you decide if opening a SmartStyle franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a SmartStyle franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the SmartStyle franchising team questions.
Once awarded a franchise, franchisees are given multiple hours of classroom training. The company also assists with marketing, site selection, and field operations.
It may be a good idea to speak with an attorney or financial advisor to ensure that you have the necessary financial resources to own and operate a SmartStyle franchise.
Company Overview
About SmartStyle
- Industry
- Personal-Care Businesses
- Related Categories
- Hair Care, Salon & Spa Services
- Founded
- 1996
- Parent Company
- Regis
- Leadership
- Matt Doctor, CEO
- Corporate Address
-
3701 Wayzata Blvd., #500
Minneapolis, MN 55416
Business Overview
- Franchising Since
- 2016 (2023-2016 years)
- # of employees at HQ
- 250
- Where seeking
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This company is offering new franchisees throughout the US.
This company is offering new franchisees in the following international regions: Canada
- # of Units
- 1,610 (as of 2022)
Information for Franchisees
Here's what you need to know if you're interested in opening a SmartStyle franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
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Initial Franchise Fee
Information Circle - $39,500
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Initial Investment
Information Circle - $180,966 - $309,558
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Net Worth Requirement
Information Circle - $1,000,000 - $1,200,000
-
Cash Requirement
Information Circle - $150,000 - $250,000
-
Veteran Incentives
Information Circle - $2,500 rebate on first-store franchise fee
-
Royalty Fee
Information Circle - 5%
-
Ad Royalty Fee
Information Circle - 2%
-
Term of Agreement
Information Circle - Term of master lease
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- SmartStyle has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- Classroom Training
- 24 hours
- Ongoing Support
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Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField Operations
- Marketing Support
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Ad TemplatesNational MediaRegional AdvertisingSocial Media
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
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Can this franchise be run from home/mobile unit?
Information Circle - No
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Can this franchise be run part time?
Information Circle - No
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Are exclusive territories available?
Information Circle - No
Interested in ownership opportunities like SmartStyle? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where SmartStyle landed on this year's Franchise 500 Ranking versus previous years.
Additional Rankings
Curious to know where SmartStyle ranked on other franchise lists? Find out below.
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