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Name: Sumit Bansal
Title: CEO
Company: The Bansal Group
No. of units: 14 Hand & Stone Massage and Facial Spa, 13 Great Clips, 3 The Picklr
Age: 46
Family: Wife Monica and 2 children, Ayaan, 17, and Aanya, 15,
Years in franchising: 20
Years in current position: 20
It might sound counterintuitive for a powerhouse multi-unit franchisee with 30 locations and ambitious plans for $100 million in revenue, but Sumit Bansal thrives on doing... nothing. But hang on because there’s more to the story.
Bansal first arrived in the U.S. when he was 21 and soon landed a job as a computer engineer. However, he felt unfulfilled and had the desire to own a business. He was inspired by his father, who operated a steel pipe manufacturing company in India. Bansal’s entrepreneurial spirit ignited at 26, when (with his wife’s blessing) he rerouted a house deposit and part of his 401(k) into purchasing his first Great Clips franchise.
He grew the business to 13 Great Clips units over 10 years before running out of available territories in Michigan. Next, Bansal diversified into the wellness sector, becoming a franchisee with Hand & Stone Massage and Facial Spa in 2015, and he and his wife now own 14 locations. This past May, he expanded his portfolio again, acquiring three The Picklr pickleball franchises, showcasing his embrace of diverse opportunities.
Business has been good. In addition to the recent pickleball units, he added 10 Hand & Stone spas in the past two years. That growth has more than tripled his overall revenue, and Bansal is now laser focused on reducing operating expenses to increase the overall profitability of his franchise locations.
Beyond the financial figures, Bansal’s true north is fostering a vibrant company culture and an exceptional employee experience. He speaks passionately about the camaraderie and love he observes at each location, viewing his employees as extended family. This commitment to people translates into a deliberate strategy of hiring the right individuals, providing clear direction, and empowering them to lead and excel.
“It is very important that for the people in this business, it is about love and not about money,” Bansal says. “We created such a strong culture and have so many people who have been with us since day one of our business. I want to leave behind memories of them thinking this guy was great to work for.”
After two decades in franchising, Bansal has developed a proven playbook for success, allowing him to replicate winning formulas across his various ventures. He expects his strategic approach will enable him to reach $100 million in revenue with a 15 to 20% EBITDA within the next decade while working fewer than 20 hours per week. By building the right team, Bansal says he can effectively buy back time to focus on delegation and optimization while also enjoying life.
“I enjoy change. Change comforts me,” he says. “I genuinely believe I am just getting started. I’m hungrier now than I have ever been. It is fun, and I enjoy it.”
For a leader who loves to put his feet up and do nothing, Bansal has shown that vision, strategic growth, and a deeply human-centric approach can lead to remarkable results.
First job: As an intern at Dassault Systèmes, a French software company, when I was 22.
Formative influences/events: When I was in college, I frequented a fancy hair salon and always shared a post-haircut cigarette with the owner. His Mercedes-Benz parked outside became a symbol of my dreams. I told him I wanted one someday, and he replied, “Stay focused. You’ll have more than this.” His words and wisdom over those three years deeply inspired me and shaped my mindset.
Key accomplishments: Building an amazing business family with superb talent. Many of our team members have been with us for a long time on our journey.
Biggest current challenge: I would say the biggest focus is trying to become a profit-focused organization instead of a revenue-focused organization. By the end of 2024, we had built an organization with $15 million in revenue, but the profit wasn’t in line with the revenue. Starting this year, we changed our focus to priorities that helped cut expenses, such as front desk costs and supply costs. We also increased prices. Our efforts boosted profit significantly. The key is to take one topic at a time and nail it down before moving to the next.
Next big goal: Reaching 20% EBITDA with the changes we implemented this year.
First turning point in your career: Ownership of my first Great Clips hair salon. I had no idea how to cut hair or run a business, but I had the fire to do whatever it took. I learned so much in those early years by spending time with my team and growing alongside them.
Hardest lesson learned: Tough times always pass. During those moments, keep doing the right things, and good things will follow.
Work week: In my heart, it doesn’t even feel like I’m working because I truly love what I do. Some weeks are packed with work while others are completely free, creating a perfect balance. No matter what happens, I always say, think, and feel, “Life is good.”
Exercise/workout: Three days a week of strength training. It’s a combination of a social outing and a workout. The gym family is amazing.
Best advice you ever got: A CEO’s job is to focus on the team and not the clients. You take care of your team and forget about the rest. If the team is good, the clients are taken care of.
What’s your passion in business? I love seeing the love and camaraderie in the teams. It is all about the culture. Starting with the interview of every single person in the company, I make sure they all understand that we look for a culture of love, and each person is going to work with the same departments across all our locations. We truly manage the business like one big family.
How do you balance life and work? I enjoy my work family, my home family, and my friends. It truly feels like it’s an imperfectly perfect life.
Guilty pleasure: Late-night drinks with friends and eating junk food.
Favorite book: The Power of Your Subconscious Mind by Joseph Murphy.
Favorite movie: “3 Idiots.”
What do most people not know about you? I love doing nothing, putting my feet up, watching TV, or spending time with friends. I do a lot of it. Looking at my portfolio, people think I work a lot, but I believe we have done a phenomenal job in delegation. We bring in good people so that I can sit back and think of the next steps for the company.
Pet peeve: Complaining.
What did you want to be when you grew up? A cricketer.
Last vacation: To India with family in March. I always want at least two family vacations each year for a week to ten days. We love exploring the world as a family.
Person you’d most like to have lunch with: Virat Kohli and Yuvraj Singh, my cricketing idols. Kohli is the king of cricket and has the third-largest sports following in the world behind Ronaldo and Messi. His passion and attitude to never give up make him the best in the world. Singh is also a cricketer who has always played his heart out. He was diagnosed with cancer in the middle of the World Cup tournament but continued to play and helped lead India to its first title in 28 years.
Business philosophy: There are a couple of ways I think about it. First, I believe that if you focus on developing great store managers, the stores will naturally take care of themselves. A great manager leads to a great store, and the opposite is just as true. Second, I see each store as one of my kids. As long as they give their best every day and come back knowing they gave it their all, I’m proud. Not every day will be a win, and I don’t care about that. If you bring your best effort consistently, success will follow over time. That’s why we focus on the effort, not just the results.
Management method or style: On the first Monday of every month, I meet with my entire management team. We come together to review the previous month, reset where needed, align on key priorities for the month ahead, and focus on training and execution. It’s a consistent rhythm month after month. That discipline drives strong, steady growth across the business.
Greatest challenge: Challenges are a part of life and business, but I prefer to call them focus areas. It shifts the mindset from reactive to proactive. Right now, my biggest focus is growing EBITDA. That’s where I direct my energy and decisions. A huge top line is great to have, but it is of little significance if the bottom line is not great. I strongly believe you get what you focus on. It has been a huge focus for us, and we are seeing results.
How do others describe you? Love. I often tell my teams that if they are partying, I would love to be there, but I might not be able to join. However, if they are in need, I am always there for them. I have done this for the past 20 years and have built a lot of love in the family. We have been very lucky to be part of so many employees’ weddings and other major life events. I am proud to say that this is a company of love.
Have you ever been in a mentor-mentee relationship? What did you learn? I’m passionate about learning. I actively seek out people who are more accomplished than I am and spend time understanding their experiences. I’ve learned so much from these conversations. They have been one of the biggest drivers of our success. My mentors are like gods to me. Their wisdom, guidance, and example have shaped the way I lead and grow. I highly recommend surrounding yourself with people who inspire you. When you do, great things will follow.
One thing you’re looking to do better: Increasing our EBITDA.
How you give your team room to innovate and experiment: Each manager is empowered to run their store as if it were their baby. They’re given a clear focus, consistent monthly training, and the tools they need to succeed. From there, they have the autonomy to run the show their way. This balance of structure and independence creates ownership, accountability, and strong performance.
How close are you to operations? I stay close to the management team to set direction and provide clarity. This happens once a month. We’ve built a system that combines alignment with real independence. It’s like being a dad. I know how my kids are doing, but they don’t need to call me for everything. They’re independent, capable, and trusted to make their own decisions, and that’s exactly how our teams operate.
What are the two most important things you rely on from your franchisor? Strong support from the operations team and constant innovation.
What you need from vendors: Superb product and competitive pricing.
Have you changed your marketing strategy in response to the economy? How? We have always tried new strategies to keep ourselves ahead of the game. We constantly look for ways to get better. Sometimes we fail in trying, but that’s how we learn.
How is social media affecting your business? It works like a charm if you have someone fully committed to it. Otherwise, don’t do it.
In what ways are you using technology (like AI) to manage your business? I would love for AI to be a bigger part of our business. I don’t think we have tapped the potential yet.
How do you hire and fire? It’s more about the right hiring than the firing. However, if we have to, we try not to wait too long if we have truly determined that someone is not right for the team.
How do you train and retain? Every month, managers receive training followed by training for the entire front desk team focused on that month’s priorities. This continuous learning is deeply embedded in our culture.
How do you deal with problem employees? We coach our management team to treat every employee with respect and have heart-to-heart conversations. We encourage resolving issues in person and never by text and, if possible, not even by phone. More often than not, this approach works.
Fastest way into your doghouse: By complaining.
Annual revenue: $15 million.
Goals over the next year: To reach $20 million.
Growth meter: How do you measure your growth? Profitability rather than revenue.
Vision meter: Where do you want to be in five years? 10 years? $100 million revenue with 15 to 20% EBITDA and continue to ensure that I work less than 20 hours per week on average.
Do you have brands in different segments? Why/why not? Yes, we do. Diversification is a key part of the strategy, and it has never been more important. I would hate to have all my eggs in one basket should something go wrong. It is important to think about the future and have a balanced operation.
How is the economy in your region(s) affecting you, your employees, your customers? It is the best it could ever be. It’s a great time to be in business.
Are you experiencing economic growth in your market? I believe if you provide five-star service to your clients, they will always come to you. Even in tough economic conditions, your business will do great.
How do changes in the economy affect the way you do business? They don’t. Keep focus within the four walls, and you will do just fine.
How do you forecast for your business? I am a numbers person, and at the same time, we have strong financial partners who help us keep the business in check. We maintain a dashboard with all spas and key metrics, such as net member gain, etc. The entire company can see those numbers. This keeps everyone on the same page.
What are the best sources for capital expansion? There are multiple ways. Being self-funded from our existing portfolio, seller-financed acquisitions, and franchisee-approved banks.
Experience with private equity, local banks, national banks, other institutions? Why/why not? Not yet. We look forward to working with private equity in the next three to five years. We are focusing on growing our EBIDTA.
What are you doing to take care of your employees? Nothing is more important than sharing your love with them and making them feel part of the family. We often share a phrase, “grow with us,” and ask everyone in the organization if they have a desire to grow. I have been surprised by how many people have raised their hands. It is beautiful to see because that helps us make our teams stronger by giving them small tasks and letting them prove themselves. If they keep on proving themselves, they keep on growing.
How are you handling rising employee costs (payroll, minimum wage, healthcare, etc.)? It is a real challenge. You have to keep your benefits with the industry and, at the same time, keep the business profitable.
What laws and regulations are affecting your business, and how are you dealing with them? This is a constant challenge. For example, Michigan recently rolled out the Earned Sick Time Act, which gives employees more vacation time. Even though these are great benefits, they are a constant challenge to the bottom line.
How do you reward/recognize top-performing employees? Recognition and love are the top ways to take care of team members. Promotions help, but there is nothing better than recognition and love. In our annual get-togethers, we honor everyone who has achieved five, 10, 15, or 20 years with the family. We also recognize top performers.
What kind of exit strategy do you have in place? We’re just getting started. The momentum we’ve built over the past couple of years has been incredible. We’ve tripled or even quadrupled our revenue, and we’re fired up to do it again in the coming years. No exit plans here. We’re all in for the long game.