Fantastic Sams Plans To Expand Into Vermont, Capitalizes On Bumpy Economy Share
June 23, 2011 // Franchising.com // Fantastic Sams Hair Salons plans to develop 20 hair salons in the state of Vermont over the next five years. Leading the expansion is Bob Loffredo, who will spearhead the brand's growth and act as a local support team for business owners in the market. Salon locations, which will be franchised, have not yet been specified. However, Loffredo said that the Burlington area would likely see the company's first developments.
Faced with a gloomy economic climate; dried up lead pool; and financing issues, many businesses have been forced to regress. However, for those brands well-positioned in recession-resistant segments, the economy has meant anything but regression, more towards opportunity. Fantastic Sams Hair Salons has not only continued to grip a share of the $60 billion hair care industry, but has advanced its footprint forward by furthering its expansion nationwide, opening 54 locations in 2009.
"While many brands protected their spending in 2009, we continued to market, spend, and grow our brand. Even during this down-turned economy, there is opportunity. Our business model of affordable in-salon services combined with our investment model continued to drive franchise inquiries and our salon opening pipeline," said Scott Colabuono, CEO. "It was proven in the last year that our business model was recession resistant, in fact, many of our salon owners experienced revenue increases of up to 10 percent."
Fantastic Sams' optimism has carried into 2010, as the brand expects to add another 50-plus new locations, with an eye on doubling in size over the next several years.
"After evaluating our nationwide demographic research, we feel doubling our salon count over the next several years is within reach. We have focused on building an elite infrastructure to support our growth," Colabuono said.
Colabuono's executive team is comprised of experienced business, marketing and franchise executives recruited from top brands such as Pepsi, Church's Chicken, Burger King, Dunkin' Donuts, among others.
"Our people know franchising and understand the needs of our franchise owners," Colabuono said, "In addition, our salon owners across the country are supported by long tenured salon industry professionals in each market a Fantastic Sams Hair Salon is opened."
Putting experienced executive and field teams in place was just one part of Colabuono's game plan for rejuvenating the 35-plus-year brand throughout his four-year tenure as President and CEO. He also married the Fantastic Sams Hair Salons professional salon hair care products marketing calendar, with the salon services marketing calendar, leveraging the revenue potential for the salon owners during the brand's eight promotion periods each year.
"Once the changes were enthusiastically received by the salons and our guests, we knew the bundling of services and products gave our salon owners the best opportunity to offer each guest a professional hair care product to maintain their style between salon visits."
Currently, Fantastic Sams Hair Salons has nearly 1,300 salons operating in the United States and is targeting growth in metropolitan areas where Fantastic Sams has already built a significant brand presence. To meet the brand's development goals Colabuono said Fantastic Sams Hair Salons is looking for operators who understand a work-life balance, people relationships, and motivation - all keys to the personality of the brand's top operators.
"Personality is important to building a relationship with the local communities we represent," he said. "Being financially sound is obviously the most critical element to becoming a franchisee, as not everyone is cut out to be an entrepreneurial business owner."
To support its growth plans, Fantastic Sams Hair Salons is currently seeking franchise partners who want to invest in a proven business model with a solid operating system and dedicated corporate support structure. The average initial investment to open a Fantastic Sams Hair Salon which ranges from $90,000 to $200,000, and the company's fixed fee royalties make it one of the most competitive opportunities in the industry.
Fantastic Sams Hair Salons offers a full range of hair salon services catering to men, women and children including multicultural guests of all ages. Customers at any Fantastic Sams can expect the full service treatment from a professional team of stylists up-to-date on the latest trends and fashions. Haircuts and styles, straightening, coloring, highlights and texturing are all available, as well as beard and mustache grooming, facial waxing and rejuvenating hair treatments. Fantastic Sams' menu of services are also complemented by an exclusive line of professional, salon quality hair care products.
ABOUT FANTASTIC SAMS HAIR SALONS
With nearly 1,300 salons located throughout North America, Fantastic Sams Hair Salons (www.FantasticSams.com) is one of the world's largest full-service hair care franchises with an excellent reputation for providing quality hair care services for the entire family. Fantastic Sams Hair Salons has been consistently ranked as one of the top franchise opportunities by Entrepreneur Magazine, Black Enterprise Magazine, Franchise Times and Bonds. For more information, visit www.FantasticSamsFranchises.com.