4/10

Franchimp Summary Rating

7 /10
Earnings Transparency
1 /10
Investment Accessibility
Higher than 97% of peers

Franchise Summary

Description
Sola Franchise, LLC ("Sola") offers franchises that license individual turn-key salon studios toindependent salon professionals under the trade name "Sola Salon Studios" using our uniquesystem of build-out (the "Sola Franchis
Company Background
Sola is the first franchised salon studio. Sola Salon Studios are professional, turn-key hair salons that offer individualized service with no leases or long-term commitments. Our unique system of build-out allows entrepreneurs to own their own business without any high overhead costs. We provide an up and running salon which includes all equipment needed for a successful business in one location with just $5,000 down payment and $1,500 monthly fee.
Franchise Opportunity
When you're a salon owner, it's hard to find time for everything. You have to keep your salon running and also build new business while keeping up with marketing. Sola is the solution! Our turn-key salons are ready to go in as little as 2 weeks and all you need is 1 hour of free time per week to run them. Plus, we handle all our own advertising so you can focus on what matters most - building your business. With a Sola franchise, there's no longer any reason why YOU shouldn't be successful in this industry! We make it easy by taking care of the rest so that you can take care of your clients and grow your own business at the same time!
Corporate Structure
Sola Franchise Corporation was incorporated under the laws of Colorado in March 2005. Sola does not do business under any other name. Our principal business address is 235 Fillmore Street, Suite 210, Denver, Colorado, 80206. Sola has never sold any other franchise and has no business other than offering franchises and assisting franchisees.

Earnings Transparency

7 /10
This Franchise discloses slightly more information about the financial performance of their franchisees compared to other franchises in the same industry

Why do some franchises disclose more than others?
There are many reasons why a brand may choose to not include item 19 on their FDD: they could be a newer franchise, they may be in a unique industry that is not super profitable or well-known yet

Financial Performance of "Standard" Units

Average Revenue Per Unit

Compared vs. Beauty related services Industry

$303,424 / unit

Franchise Type: Standard

Average Revenue During 2020

$303,424
$76,752
Industry Low
$1,249,999
Industry High
Show All Years +

Franchise Types Available

# Type Investment Fees

Employee Contact Database

# Name Position Phone Number Email Address

Distribution of Sola Salon Studios Franchisees

Sola Salon Studios Franchise System Development in 2022

FAQ

How much investment do I need to start my own Sola Salon Studios business?
Franchisees typically require at least $924 to $1 investment to get their Sola Salon Studios business started
What are the initial franchise fees for Sola Salon Studios?
Franchisees typically need to pay at least $59 in fees directly to Sola Salon Studios in order to earn the right to launch their business
How much money can I make with a Sola Salon Studios franchise? What are the average revenues for a typical Sola Salon Studios business?
We estimate that the average revenue of an individual Sola Salon Studios unit is approximately $303,424. We based this on Item 19 in franchise disclosure document
How long do I need to commit to running a Sola Salon Studios unit? What is my contractual commitment?
Sola Salon Studios franchisees are typically required to sign up to a 10 year contract initially. The renewal length is 10 years. You can of course exit early but don’t expect to get any refund!

Accessibility

1 /10
The Franchisor's investment costs ranges from $924,021 to $1,957,824 which is Much Higher than the $0 to $0 average in the Beauty related services industry
What determines the investment cost?
Item 7 of the Franchise Disclosure Document lays out the full list of initial investment costs, including the fee payable to the franchisor, security deposits, equipment, professional fees etc

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