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Cost Cutters Family Hair Care
Cost Cutters is a family-oriented hair salon offering everything from cuts to perms since 1982. There are 850+ locations across the United States. In 1963, Joe Francis opened the first The Barbers Hairstyling for Men salon in Minnesota. Five years later, the salons began styling women's hair. In 1982, Francis diversified even more, founding family salon Cost Cutters. Twelve Cost Cutters centers opened that first year, and six years later, the 300th salon opened. Today, the parent company of Cost Cutters is the Regis Corporation, which also offers U.S. franchises of SuperCuts, Pro Cuts, and City Looks.
Facts & figures
$250,000 is required in available capital if you want to become a franchisee. New Cost Cutters Family Hair Care franchisees need to have at least a $1,000,000 net worth. A royalty payment of 6% is paid from unit owners back to the franchise. $148,930 is the minimum that Cost Cutters Family Hair Care expects its owners will need to invest in a new location. $316,700 is the maximum that someone opening a location should expect to invest. New franchisees can expect to pay a $39,500 franchise fee for the rights to open their own location. The company was originally founded in 1982. The company began expanding via franchising in 1982. There are currently 646 Cost Cutters Family Hair Care units in operation.
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