This concept has absolutely taken off overseas and the Sola® Salon Studios team are ready to hit the Australian real estate market like nothing before and change the real estate game.
This is a business model like no other in Australia. The owner of Sola® Salon Studios Australia will be facilitating salon business owners to have their own luxurious space and join a community of like minded professionals.
How it works?
- As a Sola® Salon Studios franchisee you will be a landlord for a thriving business hub, joining a business model that has succeeded across America with a total annual sales for the US system exceeding US$1 billion.
- Simple revenue model – through a license agreement, stylists pay Sola® weekly rent in advance through electronic funds transfer for the use of their private studio, based on a 1 - or 2 - year agreement.
- Expenses are largely fixed (rent payments to retail centre landlord, utilities and cleaning equal 75% of store-level expenses)
- Store-level EBITDA margins of 40% -50% and unlevered yields on total capital of 25% -35%
- Sola® is simply the landlord –stylists are owner/operators, not employees of Sola®. No full-time on-site employees; general managers can manage 10+ locations with minimal additional support.
- Franchisee rents 4,500 -6,000 sq. ft. of space in retail shopping centres within salon-dense submarkets
- Sola® builds out stores containing approximately 25 studios, 100-200 square feet. Studios are fully-equipped for use by stylists (sinks, mirrors, cabinets, styling chairs, etc). Hip, trend setting, upscale atmosphere.
- Attract career-oriented stylists and other health & beauty professionals through targeted marketing and social media. Stylists are not employees –professionals are independent business owners.
- Sola® has a vision to be more than just another salon suites rental business; they are an all-encompassing independent salon business solution that provides franchisors a business opportunity like no other. They also give beauty therapists and aspiring salon owners the ability to build their own business and be part of a unique and established brand.
Read why those in the beauty industry have turned to Sola® Salon Studios as a hub for their business.
“I chose Sola because I was ready to change how I wanted to live my life. I heard of Sola a few times from conversations I had with other people and I just decided to take a look at how a place like this could put me in a path where I’m in control of how creative I can be as an entrepreneur.”
Cosmic Nails LLC, Charlotte, NC
“My choice to leave a traditional, commission-based salon was based on my need to completely control my own working schedule and create an enjoyable experience for my clients. At first, I chose Sola because they were turnkey ready, which was important for my peace of mind considering it was my first time going independent. I quickly realized that I was gaining so much more than an easy transition!”
TressPassing Salon, Avondale, Arizona
“I chose Sola because I wanted my clients to have a consistent brand experience. I didn’t want to manage multiple personalities and try to get them all to mesh and support a consistent vision, especially with the turnover of most barbershops. I’d almost never seen a shop that maintains its brand over time because it has to fill seats with clients as well as new barbers."
Dillinger’s Hair Company, Long Island, New York
Read more at: https://www.solasalonstudios.ca/blog/the-sola-difference1
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