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Floyd’s 99 Barbershop occupies a unique position in the salon franchise market because we’re not competing in the discount space. Founders and owners Paul, Bill and Rob O’Brien saw Floyd’s as an opportunity to step into an underserved niche, creating a client-first barbershop franchise offering premium service at an affordable price that lies between high-end independents and discount chains.
How much can Franchisees make?
Download our Franchise Information Report
Casually cool brand draws customers. Bottom-line results draw investors.
With 20 years of experience as a respected barbershop brand, Floyd’s 99 Barbershop knows how to help our franchise partners set up their shops to become profitable franchises. While we are unable to predict or guarantee any earnings, you can talk directly with Floyd's franchisees. They can share with you their successes and insider details about being a Floyd's franchisee.
Multiple revenue streams and brand recognition and longevity provide many opportunities for profitability. Floyd’s carries a proprietary line of men’s grooming products that can make up as much as 8% of your revenue while simultaneously offering your barbers and stylists a chance to earn commissions on the upsell. The retail line also carries an average profit margin of 60%.
Our barbershop franchises are highly scalable and benefit from high repeat-customer traffic and a high average ticket of between about $36-$48, depending on the market.
Recession-resistant and always in demand
Our revenue comes from cuts, color, shaves, waxing and our retail line. We tend to do best in areas of 100,000 population or higher in neighborhoods where the average income exceeds $75,000 per household. We’re primarily focused on men’s styling and grooming but also provide services for women and children.
Floyd’s 99 Barbershop occupies a unique position in the salon franchise market because we’re not competing in the discount space. Founders and owners Paul, Bill and Rob O’Brien saw Floyd’s as an opportunity to step into an underserved niche, creating a client-first barbershop franchise with an affordable mid-price menu that lies between high-end independents and discount chains.
Even in a down market, Floyd’s has the potential to capture those customers who no longer want to pay $70 for a cut but still want stylish results that might be hard to find at a discount hair salon.
“We help people feel like the best version of themselves,” says Mary Wehrer, Senior Director of Sales and Marketing. “And when times are tough, that is an important thing. Even if you're cutting costs because there's a recession, you're not going to eliminate the haircut because it actually helps you feel good.”
Strong employee training helps maximize your returns
Employee turnover can be one of the costliest hidden expenses in any business. We have a nice hedge against high turnover with The Floyd’s Academy. “It's paid education,” Wehrer says. “Our employees get paid to attend classes that are focused on things like retail, maximizing ticket average, upselling, increasing your business, client retention.”
That has helped boost Floyd’s average labor retention to between 35%-40%, well above the 25% industry standard. Given that the cost of recruiting and training a new employee can be the equivalent of 6-9 months of that employee’s salary, the advantages are measurable.
Former foodservice franchisees see clear benefits
Profitable franchises are built on the strength of the brand as well as the skills of the franchise owners. We have many franchise partners who hail from the foodservice industry, who saw not only the similarities between the two but also some clear advantages.
“If you manage it correctly, there's a profit margin benefit,” said Bob Gregg, a multi-unit owner in Texas with a lot of experience in food franchising. “You have a lower initial investment on building out the space. You have the ability to get rent and occupancy numbers that are much cheaper than restaurant spaces. So if you manage the business right and build the right team to surround you and market effectively within the community to drive a quality-first experience, you could have better margins than most restaurant franchises.”
To learn more about Floyd’s 99 Barbershop franchise opportunity and gain access to our Franchise Disclosure Document, complete the form below.