MY SALON Suite Enters Reno Market with Strategic Acquisition of Six New Locations

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Oct 03, 2023, 10:45 ET

Salon Suite franchise acquiries Sierra Salon Suites, continuing nationwide expansion with new growth strategy

CARROLLTON, Texas, Oct. 3, 2023 /PRNewswire/ -- MY SALON Suite, a salon suite franchise that focuses on providing stylists and beauticians a personal space to build their business and the beauty industry's future, announced today that it has acquired six Sierra Salon Suites in Reno, Nevada, as part of its ongoing growth strategy. The acquisition brings the total MY SALON Suite network to more than 280 locations across North America and marks the brand's inaugural entry into the Reno market.

Sierra Salon Suites was founded by brothers Kyle and Justin Ryckebosch in 2012 to provide independent beauty professionals the opportunity to own and operate their own business. After merging with MY SALON Suite in early September, Sierra Salon Suites' six locations throughout the northern Nevada area will rebrand as corporate MY SALON Suite locations and gain the support of the brand's unparalleled resources, support and training.

"As we got to know the outstanding team from MY SALON Suite, we realized they share the same principles and values that we built our company on," said Kyle Ryckebosch, founder of Sierra Salon Suites. "MY SALON Suite has been successful in expanding across the country, and their Members are happy with the benefits and incentives the brand offers, so we knew our beauty professionals would be in great hands. MY SALON Suite was the right fit to acquire Sierra Salon Suites and continue the legacy that we have established here in Reno."

The strategic purchase of Sierra Salon Suites is part of MY SALON Suite's aggressive new growth strategy as it continues a record-breaking 2023. So far this year, MY SALON Suite has grown to more than 35 corporate-owned locations along with signing more than 25 franchise agreements, putting the brand on pace to surpass 40 new deals signed by the end of the year. Through targeting acquisitions in strategic corporate markets and franchisee conversions, MY SALON Suite will continue its mission to dominate the salon industry and accelerate the growth of its footprint across the country.

With no on-site employees and a semi-absentee model, MY SALON Suite is an ideal opportunity for business owners looking to scale and diversify their portfolios. The expansion of the brand's conversion program also allows independent salons to rebrand under the company and gain the benefits of being a MY SALON Suite franchisee.

"The acquisition of Sierra Salon Suites underscores MY SALON Suite's tremendous growth potential, highlighting in an exciting new way how our scalable business model provides the perfect opportunity for both new and existing salons to find success," said Mark Jameson, chief development officer of MY SALON Suite parent company, Propelled Brands. "Whether through future acquisitions, conversions or multi-unit franchising, MY SALON Suite remains committed to penetrating new markets with the value we offer to our ever-growing clientele."

The initial investment for a MY SALON Suite franchise is approximately $823,344 – $2,241,800, including a $50,000 franchise fee. Ideal candidates have a net worth of $1.5 million, of which $500K is liquid. Additionally, MY SALON Suite offers a special incentive for veterans and first responders, including paramedics, emergency medical technicians, police officers, sheriffs and firefighters, which includes a 50% reduction on the franchise fee – a savings of $25,000.

MY SALON Suite is currently seeking qualified franchise candidates as it targets continued nationwide growth. For more information about MY SALON Suite franchise opportunities, visit https://www.mysalonsuite.com/franchise, or contact Mark Jameson at [email protected] or 214-346-5679.

About Suite Management Franchising

Suite Management Franchising, the parent company of MY SALON Suite, is a salon suite franchise created for entrepreneurial-spirited individuals interested in diversifying their portfolio while living a semi-absentee lifestyle. Founded to inspire and empower the modern-day salon owner, the company offers a unique opportunity for a diverse range of beauty and health professionals to run their businesses successfully. Salon members are provided ongoing training, support, and a strong referral network to help their business. Ranked #66 on Entrepreneur's Highly Competitive 2023 Franchise 500® List, the brand is widely recognized for its rapid expansion and noteworthy success. A strategic alliance partnership with Propelled Brands, the nation's largest family-owned collection of salons, continues to propel the brand's growth. With more than 275 and soon over 300 open locations in 35 states across the United States and Canada, the franchise concept plans to add 200 franchise partners and 500 salons in the next three years.

For more information about Suite Management Franchising, visit mysalonsuite.com/franchise. To learn more about MY SALON Suite and Salon Plaza, visit mysalonsuite.com and salonplaza.com.

SOURCE MY SALON Suite