Monthly Archives: January 2022

CARROLLTON, Texas — 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, was recognized as one of the top 500 franchises in Entrepreneur‘s Franchise 500®, the world’s first, best and most comprehensive franchise ranking. The 43^rd annual Entrepreneur Franchise 500® is a highly sought-after honor in the franchise industry. Recognized as an invaluable resource for potential franchisees, the 2022 Franchise 500® ranks MY SALON Suite as 62 for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.

Over its 43 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. MY SALON Suite’s position on the ranking is a testament to its strength as a franchise opportunity.

“Being included on Entrepreneur’s Franchise 500 list is an honor and validates the efforts of our MY SALON Suite family,” said Ken McAllister, the co-founder and CEO of MY SALON Suite. “Having our brand, once again, earn a place on this prestigious list demonstrates the strength of our concept and the dedication of our superior staff and hardworking franchisees as we continue to grow.”

In Entrepreneur‘s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s 43-year-old ranking formula continues to evolve as well. The editorial team researches and assesses several factors that go into the evaluation, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.

“The past year has been one of the most challenging for businesses in recent memory, which made putting together our 43^rd annual Franchise 500 list more enlightening than ever,” says Entrepreneur Editor in Chief Jason Feifer. “The companies named to this year’s list showed us how being resilient, supportive, and nimble can help navigate extraordinary challenges and also underscore the grit and innovation that define entrepreneurship.”

To view MY SALON Suite in the full ranking, visit www.entrepreneur.com/franchise500. Results can also be seen in the January/February 2022 issue of Entrepreneur, available on newsstands January 11th.

Salon suite franchise continues impressive growth into the new year.

CARROLLTON, Texas — 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 the year 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 mark.jameson@propelledbrands.com or 214-346-5679.