BOSTON - Fantastic Sams, a full service hair salon brand with nearly 1,400 salons in the US and Canada was recently ranked as one of the 2008 "Top 25 Most Affordable Franchises" by Black Enterprise Magazine. Fantastic Sams was also recognized by Black Enterprise as one of the "Hottest franchise in 2006", one of only six franchisors, and the only hair salon franchise, to be included on both lists.
The "Top 25 Most Affordable Franchises" was featured in the September 2008 issue of Black Enterprise Magazine and Fantastic Sams was recognized as a franchise that is in a recession resistant industry with low start up costs. According to Black Enterprise Magazine, "Our editors consulted with franchisor, franchisees, industry experts, and trade associations to come up with 25 lucrative franchising opportunities."
The publication also gave extra consideration to franchises with minority outreach programs, and those who participate in the MinorityFran Initiative. Fantastic Sams is a charter member of Minority Fran, a program that was recently launched by the International Franchise Association's Diversity institute. Minority Fran works to broaden awareness of franchising within minority communities and to increase the numbers of minority franchise owners, employees and suppliers.
"We are thrilled about our recent recognition by the minority business community, "said Scott Colabuono, CEO of Fantastic Sams. "We want to recruit franchisees who are interested in running a business and who also understand the culture of the clients they serve."
According to the IFA, franchise businesses create some 21 million jobs and $2.3 trillion in total economic output. "The current economic environment has made Fantastic Sams a viable option for aspiring entrepreneurs," adds Colabuono.
Already a big player in the $59 billion hair salon industry, Fantastic Sams offers a full range of hair salon services at a value price point. Catering to men, women and children 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 hair care products.
To augment the market's growth, Fantastic Sams is currently seeking franchise partners who want to invest in a proven business model with a solid operating system and dedicated corporate support structure, as well as a strong desire to develop an emerging concept in a high-growth industry. The average initial investment to open a Fantastic Sams salon (ranging from $100,000 to $225,000) and the company's fixed fee royalties make it one of the most competitive opportunities in the industry.
"Our franchise partners find our brand an attractive investment," added Colabuono. "Offering a solid, proven system of success, Fantastic Sams allows a franchisee to go into business for themselves, but not by themselves."
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