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    ManCave for Men

    Description

    What to know about ManCave for Men franchise?

    As reported by The Independent, many popular men’s retailers have reported immense growth in sales in this area, with MR PORTER claiming a 300% growth in sales of these products in 2015 alone. Now, the men’s grooming industry is expanding all across the globe, and is estimated to bring in $21 billion in revenue in 2016.

    Hair, skin and nail products are not the only area that shows a sales increase. There is a rising surge in men heading to salons for various grooming services. According to a survey by professional beauty and hairdressing supplier Salon Services, 25% of salon customers in 2015 were men.

    Investment Amount

    $148,000-$180,000

    Franchise Fee

    $40,000

    Year of Founding

    2011

    U.S. Franchised Units

    5

    U.S. Corporate Units

    4

    Total U.S. Units

    9

    Questions & Answers

     

    What is the background / history of the franchise?

    ManCave is a concept based out of a previous gap in the men’s hair care market segment. The franchise will offer a variety of grooming and massage services to keep customers looking and feeling great. Although the primary services at ManCave are the haircut and the straight edge shave, ManCave has developed its business based on the overall experience. A customer can crack open a beer and enjoy the atmosphere that is catered toward manliness without feeling like they are losing the style and quality that come with a men’s salon. The current units are located in South Florida market, the first opening in 2011. The current financials of the store are strong and the concept has proven effective via its consistent and impressive numbers. The ManCave concept will feature locations that follow a similar layout and décor, within reason. It is consistency and professionalism that will keep the ManCave brand ahead of any of the competition. The location, layout, signage, and feel all attract and patrons and keep them coming back.

    What is the business model?

    The Business model is simple which allows for quick and efficient duplication of the business system. A typical location is about 1,500 square feet, but can range between 1,000 and 2,000 square feet, depending on the location. The business model will typically fit into a strip center location; the foot traffic and “anchors” that are close to the location will have an impact on the success of the operation. It is critical to the success of the ManCave franchise that new franchise partners abide by the strict processes and policies in place for finding and approving locations for new operators. Emad Aovida will oversee new franchisee location acquisition and in managing the negotiations of leases and business terms for the real estate. The recommended process will be as follows:

    1. Store Layout, Design and Business Plan will be provided to Franchisee.
    2. If possible, ManCave will develop and utilize relationships with commercial real estate

    brokers to assist franchisees in finding a location.

    3. Franchisee will find locations and send photos and specs for location along with address and basic information on market area Emad Aovida.

    1. Emad will approve or disapprove locations.
    2. Upon approval of locations, Emad will visit the location and make a final approval.
    3. Franchisee will then sign the lease – this will be required to be approved by Emad

    prior to signing.

    The business is heavily dependent on strong and massive marketing in a market where shops are being opened. For this reason, there are cooperative marketing groups, a national marketing program, and a localized marketing program in place. These groups of marketing initiatives are each equally important and will be managed closely the ManCave management team.

    Who is an ideal franchisee candidate?

    Although there may be a number of viable franchisee profiles, ManCave Management believes that it should try to attract franchisees that meet the following criteria:

    • Strong marketing and customer service abilities. Although hair care industry experience is not necessary to own a franchise, ManCave’s Business Model is successful because each of the operators has been aggressive and consistent in marketing the services and has always provided great service to their customers on a consistent basis. The owner or owner-operator for a ManCave franchise must be comfortable with face-to-face customer service work and interaction directly with the customer. A franchisee must be a great “people person” who is personal and can bond with the customer base and is not afraid to be outgoing. It is also imperative that a ManCave franchisee understands to importance of marketing and creating awareness for their shop. Local business marketing experience is definitely an advantage.
    • Good with time management and employee relations. The busy schedule and fast pace of the ManCave Franchise will keep the owners busy during the week and will require a well-managed and efficient day. Organization and professionalism are of utmost importance when managing a salon. The ability to motivate and manage others will play a critical role in stylist retention and satisfaction.
    • High personal standards: excellence, honesty, integrity, etc. Success in the hair care and men’s grooming industry depends entirely on reputation and commitment to the customers themselves. It is critical that ManCave franchisees do have the customers as their number one priority in delivering the services that ManCave has built its reputation on.

    • Able to meet initial investment requirements. The ManCave franchisee should have about $170,000 minimum in liquid investment capital (cash) to account for working capital, start up costs, marketing dollars and initial franchise fees to get their ManCave off the ground. The balance of the investment could be financed, so they should also have good credit (at least a 680 credit score).

      What is the franchise approval process (how to become a franchisee)?

      Initial assistance provided by The Franchisor will include the following franchisee training programs:

      Phase I -- Training provided at a location designated by the Franchisor: It is expected that ManCave provide franchisees with approximately two weeks of initial training at the Franchisor's headquarters in Boca Raton or at a location designated by the Franchisor, beginning approximately four to eight weeks before the franchisee is scheduled to open for business. Phase I instruction will pertain to administrative, operational, and sales/marketing matters; it will also include a liberal amount of on-the-job training. This training will be provided for the franchisee and up to one other team member.

      Phase II -- Training provided at the franchisee's location: On-site training typically takes place when the franchisee commences operations of their ManCave franchise model.
      Initially, ManCave team members will provide on-site training for a period of one week to assist the franchisee in the commencement of their operations. No franchisee will be allowed to commence operations until the owner has successfully completed Phase I of the initial training program. The franchisee will not be permitted to continue operations until successfully completing Phase II of the initial training program. If the franchisee fails to meet the initial requirements specified by the Franchisor, the Franchisor may, at its option, require the completion of additional training or may cancel the Franchise Agreement. Franchisees will be required to attend up to two days of refresher/update training per year in up to two sessions. Space permitting, the Franchisor will provide the opportunity for franchisees to send additional personnel to refresher training. This training will be provided at no cost, but the franchisee will pay for all applicable travel, lodging, and out-of-pocket expenses.

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    * Closed includes terminations, non-renewals, and ceased operations

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    Additional Details

    Where was ManCave for Men founded?

    ManCave for Men was founded in Boca Raton, Florida.

    When did ManCave for Men start offering franchises

    ManCave for Men started offering franchises in 2017.

    How much does a ManCave for Men franchise cost?

    The minimum amount required for a franchisee to invest is $148,800, and can go all the way up to $180,100.

    How many ManCave for Men units are in the United States?

    There are 9 ManCave for Men locations in the United States, of which 3 are corporate units and 6 are franchise units.

    From the Franchise Disclosure Document of ManCave for Men, that was issued on March 5, 2020.

    As a ManCave for Men franchisee, you will operate a salon that offers a wide variety of services specifically tailored for men, including barber services, massage, nails and other services.

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    Details
    • Investment Amount Low
      $148,800
    • Investment Amount High
      $180,100
    • U.S. Franchised Units
      5
    • U.S. Corporate Units
      4
    • Total U.S. Units
      9
    • Year of Founding
      2011
    • Started Offering Franchises
      2017
    • Primary Industry
      Health and Beauty, Barbershop
    • Royalty
      4.0%
    • Marketing Fee
      1.0%
    • Royalty Fee
      4.0%
    • Franchise Fee
      $40,000
    • Headquarters (State)
      Florida
    • Headquarters (City)
      Boca Raton
    • Issuance of FDD (Data Last Updated)
      3/5/2020
    • Min. Liquid Capital Requirement
      $150,000
    • Min. Net Worth Requirement
      $200,000
    • Last Updated on Vetted Biz
      November 2020
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    What are your goals in opening a business?

    Flexibility
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    Quality of life
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    Be my own boss
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    Location

    950 Peninsula Corp Circle, Boca Raton, FL, USA

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    Detailed Metrics

    Detailed Franchise Metrics are metrics calculated and reviewed by Vetted Biz. You can find the available metrics for ManCave for Men below. “N/A” or Not Applicable results mean that there is not enough data available to compute a precise rate or that the result is not mathematically computable. When results are not mathematically computable, you should pay attention to the absolute values (#) instead of the percentage rate itself.

    U.S. Franchised Units

    5

    U.S. Corporate Units

    4

    Total Number of Units

    9

    Growth Rate

    Why is the Growth Rate important?

    The Growth Rate is the percentage change of total franchise units from one year to the next. A higher Growth Rate signifies an expanding franchise system.


    Rate (%) Number of Openings (#)
    2016 0.0% NA
    2017 0.0% [0]
    2018 NA 4
    2019 0.0% [0]
    3-year 100.0% 4
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    SBA Loan Data

    SBA Loan for ManCave for Men Details

    Please visit the SBA Loan Franchise Directory for the latest details on each franchise and its SBA loan eligibility.

    Vetted Biz has reviewed the SBA Loan Data for ManCave for Men. ManCave for Men is available for SBA financing. ManCave for Men's SBA Franchise Identifier Code was issued on November 13, 2019. ManCave for Men also meets the Federal Trade Commission's definition of a franchise.

    Receive more information on how to obtain an SBA loan

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    Detailed SBA Loan Data Request

    Contact us today for a due diligence on all current and past SBA Loans issued to ManCave for Men

    As part of our due diligence process for franchises, we review the SBA loan success ratio. This is a fundamental indicator for measuring past success for a given franchise brand. We review SBA loan data for the past 30 years (including SBA loans paid in full and charged off). If you engage our services, we will vet ManCave for Men for items that influence the business success should you decide to buy a ManCave for Men franchise. The SBA loan success ratio is an important factor we consider along with other items included on our franchise search & due diligence page.

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