Frenchies Modern Nail Care Franchise Review (2024)
Frenchies Modern Nail Care Franchise Background
Founded by experienced franchise professionals in 2015, Frenchies Modern Nail Care is the first nationally reputable nail brand. Frenchies offers premium hand and foot care services for women and men in a clean and high-quality service environment
Frenchies modern nail care provides a distinct experience to the usual nail salon. Frenchies Modern Nail Care studios are light, open and airy. They have opted from using acrylic nails due to the damaging chemicals they contain. Cleanliness is their priority, sterilizing all tools and air-sealing them in an individualized pouch before using them on a new client. Their team members are all friendly and very knowledgeable in their field
Nail maintenance is part of a nearly $10 billion industry. Nails are seen as a “pretty perseverance” not an infrequent beauty indulgence. Nails need maintenance every 2-3 weeks, representing a recurring revenue for the franchisee. Frenchies offers an opportunity to the franchisee to become part of a revolutionary, reputable brand set to become a national leader in the nail industry.
Their affordable and consistent service model helps clients prioritize a service that they already value, so that self-care stays top of mind.
Management Team
Frenchies modern nail care was founded by Guy Coffey and Stepahanie Coffey. Both owned and managed multi-unit Anytime Fitness franchises for over 10 years. Their initial idea was to open the first Frenchies in Littleton, Colorado to prove out the concept and now Frenchies is proven and expanding nationwide
Frenchies’ development is being led by Franchise Fast Lane. Franchise Fast Lane is an accelerated turn-key franchise sales organization. Their founders Ryan Zink and Carey Gille both boast extensive experience in the franchising industry. Zink built Complete Nutrition into the 2nd fastest new growing franchise ever and Gille co-founded four start-ups and awarded over 240 locations in 18 months for her last franchisor
Frenchies Modern Nail Care – Health & Beauty Industry Analysis
Franchise Strengths
- Operationally simple, easy to learn
- Offers a superior experience and overall atmosphere than the vast majority of other nail salons
- Recurrent revenue stream as nails require service every 2-3 weeks
- Strong franchise brand that is growing
- Can be managed semi-absentee
Franchise Weaknesses
- Targets narrow demographic depending on the area where studio operates
- Operates in a competitive environment where customer satisfaction is key
Franchise Opportunities
- Depending on the area, brand still has room to grow as more studios open
- Competitors are not sophisticated – 99% of nail salon owners only have 1 location
- Nail maintenance industry is worth nearly $10bn and is expected to continue to grow in the coming years
- More individuals are looking to take more care for themselves
Franchise Threats
- Many consumers see as “non-vital” good, and is thus is more prone to economic recessions
- Other local nail salons in the area that, though not as clean, can undercut on price
- Potential for changes in consumer tastes and styles
How much is a Frenchies Franchise?
| Frenchies Franchise cost ranges from $243,524 to $418,310 according to the 2020FDD. |
|---|
| Item | Estimated Amount (in USD) | When Due | To Whom Payment is to Be Made | |
| Low | High | |||
| Initial Franchise Fee | $44.500 | $49.500 | When you sign the Franchise Agreement | Franchisor |
| Travel and Living Expenses While Training | 3.300 | 3.800 | As incurred | Airlines, hotels, and restaurants |
| Rent and Security Deposit | 8.000 | 22.500 | Signing Lease and thereafter | Landlord |
| Leasehold Improvements | 100.500 | 144.000 | Varied times | Building contractor |
| Architect/Design Fees | 9.000 | 10.000 | As specified in contract | Architect |
| Furniture and Fixtures | 2.850 | 68.000 | Varied times | Vendors |
| Equipment | 4.800 | 6.000 | Varied times | Vendors |
| Office Supplies | 1.500 | 3.000 | Varied times | Vendors |
| Techonology Fees | 1.697 | 2.096 | As incurred | Franchisor |
| Initial Technology Expenses | 1.577 | 5.814 | Before opening | Vendors |
| Signage (exterior + interior) | 10.000 | 14.000 | As agreed | Vendors |
| Initial Inventory | 9.000 | 10.000 | At delivery | Vendors |
| Grand Opening Advertising | 15.000 | 20.000 | Varied times | Third Parties |
| Insurance | 800 | 1.100 | Before opening | Third Parties |
| Miscellaneous Expenses | 2.500 | 3.000 | As incurred | Vendors |
| Additional Funds- 3 months | 28.500 | 55.000 | As incurred | Vendors or Third Parties |
| Extension Fee | 0 | 500 | Only due if rquestin an extension to your required opening date | Franchisor |
| Total | $243,524 | $418,310 | ||
| Royalty | Ad-Fund |
|---|---|
| 5,5% | 2% |
How much does a Frenchies Franchise make?
| Average Total Appointments | Median Total Appoitments | Average $ Per Appt. | Median $ Per Appt. | Average Gross Revenues | Median Gross Revenues | |
|---|---|---|---|---|---|---|
| Year 1 | 7.433 | 7.648 | $39,26 | $37,80 | $291.509 | $320.491 |
| Year 2 | 8.087 | 8.661 | $38,87 | $37,67 | $316.308 | $315.695 |
| Year 3 | 10.963 | N/A | $49,10 | N/A | $538.266 | N/A |
| Year 4 | 11.013 | N/A | $49,78 | N/A | $548.288 | N/A |
| 2018 Actuals | Percent of Gross Revenue | |
|---|---|---|
| Gross Revenue from Retail Sales | $41.477 | 8% |
| Gross Revenue from Services | $506.811 | 92% |
| Gross Revenue | $548,288 | 100% |
Non-Discretionary Expenses
| Payroll | $215.314 | 39,3% |
| Salon Supplies | $35.451 | 7,0% |
| COGS | $26.838 | 4,9% |
| Rent and Utilities | $33.072 | 6,0% |
| Royalty | $30.156 | 5,5% |
| Marketing Fee | $10.966 | 2,0% |
| Local Advertising | $25.238 | 4,6% |
| Credit Card Fees and Bank Charges | $13.707 | 2,5% |
| Insurance | $2.000 | 1% |
| Technology Fee | $4.200 | 1% |
| Miscellaneous Expenses | $5.000 | >1% |
| Net Profit | ||
|---|---|---|
| TOTAL | $146,346 | 26,7% |
Time Period (12/1/17 – 12/31/18) |
Amount | |
| Membership Gross Revenue Collected | $104.762 | |
| Total # of Memberships Sold | 256 | |
| # of Premiere Memberships Sold | 122 | |
| # of Select Memberships Sold | 134 |
