Earning a spot in the Top Growth Franchises list demonstrates the company’s commitment to franchise development and overall success.
METAIRIE, La. (PRWEB) September 24, 2020
MY SALON Suite, a turnkey salon suite studios franchise that allows salon professionals to provide health and beauty services to their own respective clients, was recently ranked in Entrepreneur magazine’s first Top Growth Franchises list. This list recognizes the 150 companies with the greatest positive franchise unit growth in North America over a three-year period, based on data submitted for Entrepreneur’s Franchise 500® ranking. Thanks to its exceptional growth, MY SALON Suite was ranked number 100.
MY SALON Suite is currently ranked number 279 in the magazine’s Franchise 500, the world’s first, best and most comprehensive franchise ranking. Placement in the prestigious list is a highly sought-after honor in the franchise industry.
“The health and beauty industry is solid, and MY SALON Suite is part of a growing, in-demand sector that allows stylists to run their own businesses,” explains MY SALON Suite CEO and President Ken McAllister. “Earning a spot in the Top Growth Franchises list demonstrates the company’s commitment to franchise development and overall success.”
"By maintaining steady, sustained growth over several years, these franchises have demonstrated that they have the systems in place to support their franchisees and help them become successful,” says Jason Feifer, Entrepreneur’s editor-in-chief. “Now, as these and other companies around the country face unprecedented challenges, they may see their growth slow, but that record of success could prove more important than ever."
To determine the 2020 Top Growth Franchises ranking, Entrepreneur looked at each company’s United States’ and Canadian franchise numbers over a three-year period (from July 2016 to July 2019; given the rapid changes, COVID-19 impacts weren’t taken into account). While certain companies, like MY SALON Suite, have maintained course or even grown during the COVID-19 pandemic, the ranking timeframe was defined as such in an effort to highlight successful franchises on a level playing field. To qualify, companies had to have positive growth of at least five units each year. They were ranked based on a formula that considers their total positive U.S. and Canadian franchise growth over the three years as well as factors that negatively affect growth, such as terminations, nonrenewals, and other closures.
To view MY SALON Suite in the full ranking, visit entrepreneur.com/franchises/topgrowth. Results can also be seen in the September issue of Entrepreneur.
About MY SALON Suite
MY SALON Suite is the latest concept in the beauty services industry bringing together a collection of independent beauty professionals in one luxurious location. Ken and Alanna McAllister opened the first MY SALON Suite in Metairie, Louisiana, in 2010. They had three locations in Louisiana and Florida by 2012, and the franchise expanded across North America. In 2015, MY SALON Suite partnered with Salon Plaza, a salon operation with more than 25 years of experience, to drive expansion and provide knowledge for new and existing franchise partners.
With industry-leading knowledge, operational processes and support services, we help franchise owners successfully build, open and manage upscale private salon suite facilities for highly-qualified, established beauty service professionals, who are ready to make an investment in themselves and their professional success by running their own salon business.
For more information about MY SALON Suite, please visit: https://www.mysalonsuite.com/.
For more information about MY SALON Suite franchise opportunities, please visit: https://www.suitemanagementfranchising.com/.