In a period of unprecedented prosperity, it’s difficult to imagine needing a business that is recession-resistant. However, the economy will continue to experience cycles so owning a franchise able to weather tough times should be a priority for aspiring small business owners.
That’s one of the many reasons I encourage franchise candidates to take a good look at the hair care industry as a path into franchise business ownership. Quite simply, hair grows in good times and bad, so people need hair care professionals.
Today, the hair care business is a 65 billion dollar a year industry. It’s cyclically stable because of the built-in demand. It’s a cash business so owners don’t have to wait on receivables to be paid. It’s technology-resistant so Amazon won’t be undercutting your service any time soon.
No, you don’t have to be a hair care professional to own a salon or barbershop. Being a hair care franchisee is not about cutting hair, it’s about building a business. Many of these franchise systems aren’t even expecting prospective owners to quit their full-time jobs because the business is manager-driven. They are looking for candidates with good business sense, financial acumen and leadership skills to grow multiple units into a franchising empire while investing only 15–20 hours per week of their own time.
You read that last sentence correctly. You can build a hair care franchising empire with multiple shops while investing only a few hours a day working on the business. This is a semi-absentee franchise business model requiring owners to handle CEO-type duties (marketing, strategizing, human resources, etc.) while employees operate the store on a day-to-day basis. Because the business is scalable, each additional unit only adds a few extra hours to your workday.
Below is an example of what one brand focused on hair care for men is looking for from franchise owners and what their business can offer.
- Semi-absentee business model (part-time and have a job).
- $350,000 total investment (that includes working capital for 6 to 12 months! This is the real cost of the business.)
- Strong, quick-producing potential income
- Recession-resistant and technology-proof.
- Few employees — six to eight to start and then to 10 when mature.
- Haircare experience not wanted — management skills are helpful.
- Rare franchise that is part-time for the owner but ramps up quickly like a full-time franchise!
- Single, multi-shop and Area Representative (Master) available.
- The average ticket is more than double of a value-oriented haircut chain ($35).
- Each shop will have a 5-mile diameter/2.5-mile radius as the Area of Protection. Each shop will be in a retail space of approximately 1,400 square feet. Corporate office finds sites and negotiates leases for franchisees.
Key Business Features
- Point of Sale System – Our system is a multi-functioning tool which allows franchisees to effectively run their business. It includes client-focused technology which allows clients to book appointments without talking to a receptionist; tools to manage your employees, train new employees, manage the schedule, customize different user roles and manage sales. Franchisees are able to access the POS system from anywhere with an internet connection.
- Marketing – Our marketing penetration strategy is a controlled marketing approach focusing on individual shops and growing into an evolutionary marketing system that is developed over years as each DMA (Designated Market Area) grows with numbers of shops.
- Merchandise selling techniques – Our employees are taught how to effectively promote and sell products and merchandise to clients. This provides an additional revenue stream for our franchisees.
- Wide range of services – Coloring gray, shaves, beard trims and shoulder massages are a big part of the revenue generation system.
Franchisor Training and Support
- New franchisee classroom training.
- On-site training — we come to your location.
- Ongoing support from corporate team.
- Corporate support team shop visits and reviews.
- Online training solutions.
- Annual convention training programs.
Think you would be a good fit for a semi-absentee franchise opportunity like this? Give me a call at 919.846.7111, email me at firstname.lastname@example.org or schedule a quick, 15-minute introductory call with me by clicking the button below.