Questions and answers regarding owning your own franchise with TONI&GUY or essensuals.
1. What is the minimum investment?
It depends on the size of the business, but we estimate that £10,000 will get you on the ladder. Ideally the investment needs to be between £40,000 to £60,000.
2. How long does it take?
For a new build location we allow six months in order to fully prepare a new franchisee for business. Taking over an existing salon can be quicker.
3. Can I have investors?
Yes, you can have investors.
4. How long will I own the franchise for?
Our franchise agreement lasts for a five-year period.
5. What happens after five years?
The franchise is renewed. Providing that the franchisee is operating within the terms of the franchise agreement there is an automatic right to renew.
6. What can I earn?
You can take a fixed wage or work on commission, and providing you are profitable you can take dividends yearly. We do allow profitable salons to take monthly dividends instead of a higher salary, saving the company national insurance. The amount depends entirely on how successful you are.
7. Can I use my own accountant?
We provide a list of authorised suppliers, which includes accountants. In special circumstances we allow the use of another accountant provided they report in our required format.
8. Will I receive management training?
Yes – TONI&GUY offer a bespoke range of business development courses that can be tailored to suit the individual. We have a wealth of internal experience to call upon and a team of business managers to offer ‘on the job’ coaching.
9. Will you train my team?
Yes, we offer NVQ, basic induction and advanced creative education.
10. Do I have to work for the company before I can take on a franchise?
Yes, we would expect any potential franchisee to work for TONI&GUY for at least one year to gain the invaluable experience you need to represent the brand. Some of our most profitable franchisees have trained at our International Academy on our full-time ‘Beginners’ course and progressed to running their own, very successful businesses. If we can see that a potential salon owner comes from another brand but is extremely passionate about TONI&GUY, they can easily be retrained in our TONI&GUY methodology and systems.