Franchising frequently asked questions
How much money can I expect to make with a bossy hair salon?
Bossy hair provides a proven system. However, there are many factors which determine revenue and profits. No guarantees or projections are given by bossy hair Australia . Prospective franchisees are encouraged to complete their own due diligence, speak with existing franchisees and seek professional advice.
Do I need 100% cash up front?
No. As a guideline it is good to have at least 50% equity in the business. In other words, if the salon total start-up costs are $80,000, then we'd encourage the franchisee to have $40,000 investment upfront. The rest can be borrowed from normal sources.
What regular payments are made to the Franchisor?
Bossy hair has a weekly franchise service fee of 5% of gross turnover. There is also an advertising fee of 2% which is also paid weekly.
How long is the Franchise Agreement?
The bossy hair agreement is for five (5) years. However, assuming both parties agree and the franchisor has some basic requirements fulfilled then the franchisee can extend the contract for another five (5) years upon payment of a renewal fee.
Can I sell my business?
Yes. However the franchisor must approve the individual or company buying the franchise. The purchasers must also agree to the terms and conditions of the franchise agreement.
Do I receive a territory?
Bossy hair does not allocate territories. However, it is in the best interest of both parties to ensure growth in sales and profits. Hence, extensive market research is completed on location and suburb choices and the impact on neighbouring bossy hair salons – if there are any.
What next?
If you are interested in a bossy hair franchise and believe you qualify, please complete the application form.