Phenix Salon Suites Ranks in The Top 15% on Entrepreneur Magazine’s 42nd Annual Franchise 500® List
The Salon Suite Franchise Reached #64 in the Personal Care Sector, Touting its 8th Year of Recognition
January 27, 2021 // Franchising.com // ENCINITAS, Calif. - Phenix Salon Suites announced today that it has been named to Entrepreneur magazine’s Franchise 500® list. Rated number 64 in the “Personal-Care Business” category, Phenix secured a place in the top 15% of the list, moving up 74 spots from last year’s ranking.
“It’s such an honor for our team and company to be recognized by Entrepreneur with this high ranking,” said Brian Kelley, President & COO of Phenix Salon Suites. "Watching our company rise 74 spots in the ranking from 2020, is a true testament to our franchisees and corporate team’s hard work. We are excited to build upon our momentum from this past year in 2021 by continuing to grow in new markets, forming lasting partnerships, and supporting existing ones with our current franchisees. We are very proud that Phenix has been recognized for its successful and resilient business model, showing how adaptability can move an organization forward, even during the most difficult of times. We look forward to what the rest of 2021 has in store.”
The key factors that go into the evaluation include costs and fees, size and growth, support, brand strength, as well as financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.
“2020 was a challenging year for everyone, but it was also a year of unusual opportunity,” says Jason Feifer, Entrepreneur editor-in-chief. “Franchises were able to be nimble and innovative, serving the needs of franchisees and customers in ways that will resonate for many years to come. We believe that, when we eventually look back on this time, we’ll see it as a moment when many brands defined themselves for the future.”
Phenix Salon Suites was one of the first salon suite concepts to offer luxurious, spacious suites for independent salon and lifestyle professionals to rent on a month-to-month basis and become their own boss. The suites are designed to meet each professional’s basic needs while providing them the opportunity to customize their suites.
SOURCE Phenix Salon Suites
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