Supercuts, founded in 1975 by Geoffrey M. Rappaport and Frank E. Emmett, has been franchising since 1979. Supercuts now has salons throughout the United States, Canada, Puerto Rico and the United Kingdom. A company called Regis now owns Supercuts, Cost Cutters, First Choice Haircutters, Magicuts, Pro-Cuts, and City Looks salons.
Instructions
1. Check out the franchising opportunities in your area through Regis' website and fill out the online application to apply for a franchise.
2. Understand and fulfill the requirements set by the company. You are required to have a net worth of $300,000 and $100,000 in liquid assets. Regis also requires that you become a multi-unit operator and eventually own three or more units.
3. Know that you will need an initial investment of $22,500 to start your franchise and $12,500 for each additional franchise. You will pay that amount annually as a franchise fee. You also must pay Regis 6% of all royalties along on top of this fee. Your total investment will be $106,800 to 197,900 for each salon.
4. Understand the risks. At the end of Regis' fisical year in 2006, they had a net increase of 454 salons. However, 128 stores closed due to poor sales.
5. Receive four days of training at the Regis headquarters before opening your store. You will also receive training at your franchise after this initial training.
6. Receive ongoing support in the way of newsletters, company meetings, a toll-free help phone line, a grand opening. Field operators will evaluate your store, and you will learn security and safety procedures.
