Cherry launched in 2013 under previous ownership focused solely on blowouts at affordable prices. Two short years later, the franchise was taken over by the Vicario brothers who saw great potential in Cherry Blow Dry Bar, realizing that with their experience in franchising and expertise in membership models, they could create a unique model within the niche category. The concept has proven strong, and Cherry Blow Dry Bar is continuing to expand throughout the country.
Cherry Blow Dry Bar Franchise cost ranges from $220,890 to $395,400 according to the 2020 FDD.
|Item||Estimated Amount (in USD)||When Due||To Whom Payment is to Be Made|
|Initial Franchise Fee||$39.000||$39.000||When you sign the Franchise Agreement||Franchisor|
|Lease / Rent||5.500||25.000||As incurred||Landlord|
|Plans and Construction||120.000||225.000||As incurred||Contractors|
|Equipment||15.000||20.000||Before Opening||Vendors, Approved Suppliers|
|Computer System||3.000||7.500||As Arranged||Vendor|
|Inventory||5.000||10.000||Before Opening||Vendors, Approved Suppliers|
|Grand Opening Advertising||5.000||5.000||30 Days Before Opening||Franchisor|
|Insurance||1.000||2.000||As Arranged||Insurance Providors|
|Training Expenses||500||2.000||As incurred||Airlines, Hotels, Restaurants|
|Business Licenses and Permits||500||1.500||As incurred||Gov Agencies or other licensing authorities|
|Professional Fees||2.000||7.000||As Arranged||Service Providors|
|Security Deposits||100||1.000||As Arranged||Lender, Approved Suppliers|
|Pre-Opening Staff||290||400||As Arranged||Employees|
|Additional Funds- 3 months||20.000||40.000||First 3 months of operation||Landlord, utilities, providors, suppliers, and other operating expenses|
FDD Disclaimer: “During our most recent fiscal year ending March 31, 2016, we had 3 franchised outlets and 1 company-owned outlet that had been in operation for a full year. This financial performance representation is a historic representation based on the past performance of the company-owned Cherry Hill location. The Cherry Hill location is the only Cherry Blow Dry to use a membership model, as opposed to a fee for service model, for a full twelve-month period. All other outlets in operation during our last fiscal year either did not adopt the membership model, as it was not part of the system under our Predecessor, or had not operated under the membership model for a full year. The franchise offered by this Disclosure Document will operate under the membership model only.”
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