The Salon Just for Kids “Where haircuts are cool and fun rules”
Our Story
T he S ha rke y N am e Where did the name come from? It’s quite simple; Linda and Scott Sharkey shared theirs. Naturally, we call our big plush mascot “Sharkey”.
When Linda and Scott Sharkey took their kids to get haircuts in those uninviting, unexciting salons, they always felt there s should be something better. So they set set out to create a unique salon that c caters to children of all ages. A place t that is prompt for those on-the-go parents, fun and entertaining for their children, and reasonably priced for their wallets. Hence – Sharkey’s Cuts for Kids was born October 1, 2002. The first salon was a huge success, and in 2004 they opened their second and third stores. The requests for franchises started to accelerate within months, and they then knew the business model was successful. In 2006 the first Sharkey’s franchise was sold. In just two short years 20 more salons opened across the US and Canada, with global commitments for 235+ salons, making us the fastest growing children’s hair salon franchise according to Franchise Times 2008.
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Our Salons
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Sharkey’s Cuts for Kids
Westport, CT 06880
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Email:
A unique salon just for kids The fastest growing chain of children’s salons in the country 28 stores in the US and Canada and growing rapidly Part of a $40 Billion hair care industry A service business in strong demand even in a downward economy A fun and exciting place for children Three revenue streams: o Haircuts for boys and girls o Birthday parties in our “famous” Glamour room o Specialty merchandise & party favors
SERVIC ES AVAILABLE Boy & Girl cuts Adult cuts Bang trim Coloring / Highlights Up-do’s / Specialty do’s Mini-cures Make up application
The Salon Just for Kids “Where haircuts are cool and fun rules”
Why Sharkey’s • • • Sharkey’s Jr. A low cost, smaller version of the original with all the same unique and charming qualities
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• • • • D id y ou k n ow? Sharkey’s Cuts for Kids was named the Fastest Growing
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Turnkey package Playstation 3, X-box 360, Nintendo Lower initial investment compared to other hair salons Reduced cost “Jr.” model available Benefit of a brand with high consumer awareness A complete and extensive training program that is unequaled Outstanding PERSONAL assistance throughout every step of the start-up phase and beyond Dedicated support team available at all times Our “famous” Glamour Parties Effective marketing programs Simple business model with an easy to follow step by step guide to make you successful Direct access to the ownership who are loyal and responsive to new ideas from their franchisees
Children’s Hair Salon in 2008 by Franchise Times Magazine.
Industry Overview The overall hair care industry is a $55-billion per year industry. It is estimated that hair care for children makes up $5 billion of the market. According to the 2000 census, there are over 52 million children between the ages of 0 and 12 in the US and they average 8 haircuts per year. This is Sharkey’s Cuts for Kids target market.
The unique business of children’s hair salons and entertainment style hair cutting has recently begun to gain momentum and the growth rate is phenomenal. Sharkey’s is leading the industry by overtaking our closest competitor in 2008 with the title “Fastest Growing Children’s Hair Salon” by Franchise Times.
The Salon Just for Kids “Where haircuts are cool and fun rules”
Deluxe - Estimated Initial Investment
Sharkey’s Deluxe!
Item Description
Estimated Cost
Method of Payment
When Due
To Whom Paid
Initial Franchise Fee
$119,000
Installments
$45,000 on signing Deposit Agreement; Balance due upon signing Franchise Agreement
Sharkey’s
Travel and Living Expenses while Training
$0 (included in Initial Franchise Fee)
Leasehold Improvements 1
$0 to $35,000
As Arranged
Prior to Opening
Contractors
Rent (1 months)1
$2,500 to $7,500
Per Lease
Per Lease
Landlord
Blue Prints and Plans
$1,500 to $2,500
As Arranged
As Arranged
Architect; Government Agencies
Furnishings, Equipment and Decorating
$0 (included in Initial Franchise Fee)
Signage
$0 (included in Initial Franchise Fee) $0 (included in Initial Franchise Fee) $0 (included in Initial Franchise Fee)
Opening Inventory
Computer Hardware/Software
Insurance Premiums – Per Month 2
$175 to $250
Lump Sum
Prior to Opening
Insurance Companies
Security Deposits
$500 to $1,500
Lump Sum
Prior to Opening
Grand Opening Advertising3
$3,000 to $4,000
As Arranged
Prior to Opening
Landlord; Utility Companies Suppliers
Permits and Licenses4
$250 to $750
As Incurred
Prior to Opening
Additional Funds – 3 months 5
$1,000 to $5,000
As Incurred
As Incurred
TOTAL ESTIMATED INITIAL INVESTMENT6
$127,925 to $175,500
Governmental Agencies Suppliers, Employees, etc.
ONGOING FEES: Royalty Fee: $1,000 per month for first 24 months, $1,250 per month for next 24 months, $1500 per month for the remainder of the term Advertising Fee: 1% of gross sales Web Hosting Fee: $19.99 per month
The Salon Just for Kids “Where haircuts are cool and fun rules”
Jr.- Estimated Initial Investment
*Sharkey’s Jr. A low cost, smaller version of the original with all the same unique and charming qualities – has its own estimated initial investment page. Ask your Area Developer for more information.
Item Description
Estimated Cost
Method of Payment
When Due
To Whom Paid
Initial Franchise Fee
$64,995
Installments
$30,000 on signing Deposit Agreement; Balance due upon signing Franchise Agreement
Sharkey’s
Travel and Living Expenses while Training
$0 (included in Initial Franchise Fee)
Leasehold Improvements 1
$0 to $10,000
As Arranged
As arranged
Contractors
Rental (1 months)1
$750 to $2,000
Per Lease
Per Lease
Landlord
Blue Prints and Plans
$0 to $3,500
As Arranged
As Arranged
Architect; Government Agencies
Furnishings, Equipment and Decorating
$0 (included in Initial Franchise Fee)
Signage
$0 (included in Initial Franchise Fee) $0 (included in Initial Franchise Fee) $0 (included in Initial Franchise Fee)
Opening Inventory
Computer Hardware/Software
Insurance Premiums – Per Month 2
$175 to $250
Lump Sum
Prior to Opening
Insurance Companies
Security Deposits
$750 to $2,000
Lump Sum
Prior to Opening
Grand Opening Advertising3
$2,000 to $3000
As Arranged
Prior to Opening
Landlord; Utility Companies Suppliers
Permits and Licenses4
$250 to $750
As Incurred
Prior to Opening
Additional Funds – 3 months 5
$0 to $500
As Incurred
As Incurred
TOTAL ESTIMATED INITIAL INVESTMENT6
$68,920 to $86,995
Governmental Agencies Suppliers, Employees, etc.
ONGOING FEES: Royalty Fee: $1,000 per month for first 24 months, $1,250 per month for next 24 months, $1500 per month for the remainder of the term Advertising Fee: 1% of gross sales Web Hosting Fee: $19.99 per month
The Salon Just for Kids “Where haircuts are cool and fun rules”
Common Questions Are you right for Sharkey’s? Do you enjoy working with people, especially children? Do you desire to own your own business? Are you ready to take control of your future and invest in yourself? Yes, well jump right in – you are just who we are looking for!
What qualifications do you seek in a franchisee? We seek positive, customer focused people who are highly motivated with a desire and commitment to build a successful business while having fun. Do I need hair care experience? Not at all. We actually prefer previous management or business experience to hair care experience. Your stylist will handle the hair while you focus on building your business. Why choose Sharkey’s Cuts for Kids over another salon? We are the most innovative and entertaining salon for both boys and girls ages 0-12 around the globe. Our proven business models, which feature lower than average royalties and three revenue streams, gives you the best opportunity for success. What is your “Turnkey package”? All the store equipment and installation is included in the franchise fee - plus all the franchise information and training you will need to open for business. What does it cost to open a Sharkey’s Cuts for Kids? You should expect to invest between $68,920 - $86,995 for a Sharkey’s Jr., and $127,925 $175,500 for a Sharkey’s Deluxe model. Typical financing will cover 75-80% of this amount. recommend you have $50K - $70K
Can I open multiple salons? Yes, if you qualify, we encourage our franchisees to own more than one salon. In fact, we offer substantial discounts off the franchise fee for multiple salons. Do I need to work in the salon(s)? For single salon owners we do not require you to work full-time in the salon, however, we highly encourage it. Any business you own will be more successful with your involvement in the day-to-day operations. Multi-store owners must work full-time or hire a management team. Sharkey’s Jr. (1-9 hrs/week) will require significantly less management time for an owner than a Sharkey’s Deluxe (30+ hrs/week). What support do you offer? We offer unsurpassed, dedicated franchisee support. Here are just a few key items: • 4 day comprehensive training • Site selection & negotiation • Salon design and layout • Grand opening and continuous marketing programs • On-site assistance during grand opening week • Owners meetings to discuss operations and marketing OK, I’m ready to move forward. What are the next steps? We ask that you complete our Franchising Application and submit to the Area Developer or Franchisor. Upon approval of your application, we will send you a current copy of our Franchise Disclosure Documents and schedule. a Discovery Day visit.