September 23, 2015 // Franchising.com // ORLANDO – While the U.S. hair-care industry is a $20 billion market that continues to grow at a rapid pace, many within the industry struggle to find real estate to expand their client base. Without more chairs, they are limited on top-earning potential. Entrepreneurial cousins James Schregardus, 34, and Mark Abbett, 42, saw this roadblock as an opportunity and created a solution built on scale and flexibility within an upscale environment.
Since its founding, iStudio Salons has grown from an idea to a nine-unit start-up that is now expanding throughout the United States, with plans to double in size over the next 24 months.
“The beauty of our model is that it becomes a destination for our salon professionals to attract customers,” Schregardus said. “We have found a way to take a dead real estate box and make it much more profitable than just small rent income. This model now supports larger investors joining our team, whether that’s a landlord wanting to learn how to maximize the rent of their existing space, a contractor looking to blend their skill-set with an investment opportunity, or an entrepreneur looking for a scalable business model. Our brand caters to all levels of investor.”
In addition to putting larger investors into business, the brand has also helped more than 250 stylists and wellness professionals start and expand their businesses within the nine locations. According to industry studies, the average cost of starting an individual beauty salon is more than $100,000, with nearly 35 percent of annual revenue going toward fixtures, equipment and inventory. iStudio’s crowd entrepreneur model has eliminated the high start-up costs and maintenance costs of operating a solo salon. It also creates a positive community impact through the addition of new small business owners.
“Being a part of the iStudio Salons community is an especially exciting opportunity because the model incubates two layers of entrepreneurs: the franchisees and the stylists,” Abbett said. “We are providing stylists with the opportunity to own their own business, backed by the support of the iStudio Salons team. For roughly the same cost as renting a chair in a traditional salon, they can have their own salon and the perfect balance of freedom and support. Meanwhile, the franchisee receives our unbridled support and guidance through a proven business model.”
Developing a business model focused on personal attention, commitment to excellence and an open-minded work environment, Schregardus and Abbett have combined their complementary business backgrounds to make iStudio Salons one of the most desired opportunities in the industry for franchisees and salon professionals alike. With several income streams sourced from tenant rent and peripheral revenue, iStudio Salons offers a steady return on investment with minimal management effort from a franchisee. Requiring a startup cost as low as $531,250, iStudios Salons franchises are perfectly positioned for business savvy investors searching for a growing investment opportunity. With average monthly rental income of $29,948, iStudio Salons is a highly accessible and lucrative franchise opportunity, poised for quick expansion.
The brand has already developed a strong track record for success with eight units in metropolitan hubs throughout Florida and one unit in Valparaiso, Ind. iStudio Salons plans to begin a large-scale expansion with the announcement of a wealth of franchising opportunities in the U.S., targeting markets throughout the Southeast and Midwest, including major and mid-size metropolitan areas in Alabama, Louisiana, Mississippi, Florida, Illinois, Indiana, Ohio and Michigan.
iStudio Salons offers award-winning interior design in state-of-the-art salon environments, along with a model that puts stylists in a position to succeed. The brand’s communal spaces foster unique networking options within tenant groups and breed a culture of excellence. Bringing freedom, flexibility and financial security to the salon experience, iStudio Salons strives to give hair stylists the same resources as a full-fledged salon without the hassles of micromanagement and creative restrictions.
As part of its corporate support structure, iStudio Salons helps franchisees choose between 3,600 and 5,000+ square feet of commercial retail space, which creates an average of 30 individual businesses per location. Each suite is equipped with high-end finishes, including cabinetry, cable and Internet. These contemporary suites serve as an ideal blank canvas for salon professionals to create the business of their dreams.
This fixation on creative freedom stems from the upbringings of the iStudio Salons founders. Growing up in a tight-knit family, Schregardus and Abbett were surrounded by entrepreneurial minds, including their grandfather, office furniture empire builder G.W. Haworth. Long ago, the two hatched plans to join forces in a business venture. After going their separate ways in their teens - Abbett to take the helm of a fleet of John Deere dealerships and Schregardus to launch a furniture startup - the timing and concept were finally right for a joint venture to revitalize the salon industry.
After Schregardus’ hair stylist left to start her own business in a salon suite concept, he began digging into the business model. With Abbett on board, the two immediately knew that they could do it better - more contemporary, more in-tune with tenants’ needs and better poised for expansion. This gusto is heavily inspired by their grandfather, who they honor with a quote featured on the entry wall in every salon:
“You can risk doing nothing, or you can risk doing something. Life’s a 50-50 proposition. I can confidently say that doing nothing is the greater risk.” –G.W. Haworth
With iStudio Salons’ wealth of franchising opportunities across the country, doing nothing truly is the greater risk. The brand is seeking prospective franchisees with outgoing and engaging personalities and the ability to network and build relationships. Experience in the salon, real estate, or contracting industries is preferred but not required.
“We are looking to sign on five to six new franchisees by 2016,” Schregardus said. “The beauty industry continues to prosper and our company is in an exciting phase of growth and expansion. Our current success serves as indisputable proof-of-concept and we’re thrilled that we are able to continue making the world a more beautiful place while fostering the growth of self-employed salon professionals.”
Founded in 2009, iStudio Salons is a salon suite rental franchise that ensures creative freedom, scheduling flexibility and financial security to salon professionals. Catering to hair stylists, waxing and nail technicians, massage therapists and more, the brand creates state-of-the-art workspaces using premium materials and provides salon amenities. Freeing beauty professionals from the shackles of salon management structures, iStudio Salons ensures that tenants are furthering their dreams-not catering to someone else’s. With a model nearly impossible to replicate and a comprehensive franchising process, iStudio Salons has become a leader in suite rental franchising. For more information or to learn more about franchise opportunities please visit http://istudiosalonsfranchise.com/.
SOURCE iStudio Salons
No Limit Agency