What are the qualifications to become a Franchise Partner?
You must meet the financial qualifications as well as have the personal and business skills necessary to deal with personnel and business operations.
How much time do I need to spend in the Barbershop?
The success of your Barbershop will be in direct relation to the amount of time you choose to spend managing and promoting your business. If you are a trained stylist or barber, you may choose to work full time cutting and managing your business. If you are hiring barbers, you may choose to spend less time in the shop daily.
How much is the total investment to open a Franchise?
The total cost varies based on the size of location and from region to region, however, the typical cost to open an MVP Modern Barbers ranges from approximately $180,000 to $250,000.
How much of my own money do I need to invest?
In order to open a single MVP Modern Barbers location, you are required to have at least $100,000 in up front liquid capital, and a Net Worth of at least $500,000.
Does MVP Modern Barbers provide financing?
No, MVP does not provide third party financing. The best circumstance for securing financing for your barbershop is through BDC, your personal financial institution or the Federal Small Business Loan Program.
How long does it take to open a Barbershop?
Typically it takes approximately 4 months from the day you sign and pay for your franchise, this depends heavily on the availability of locations, local building requirements and the contractors available to help with the build-out.
Will MVP Modern Barbers help me find a location?
Yes, we'll use a combination of leasing agents in your area and our In-house expertise and MVP will help find the perfect location for your barbershop, one that will attract plenty of customers without breaking the bank. Every location is then custom designed to fit the site you choose. We incorporate local sports into the design, and we encourage you to add a bit of yourself into the décor.
What are the on-going royalties and advertising fees?
We have a new Flat Rate royalty system and we have eliminated advertising fees. For more details contact us for more information.
How do I qualify to become a Franchise Owner?
You must meet the financial criteria as well as the criteria for business acumen and skills. MVP will also conduct a personal interview to ensure that you are a compatible partner.
Why open an MVP Modern Barbers?
- MVP targets a large and constantly recurring market
- MVP focuses on service rather than price, there are no competitors when you offer an excellent service
- High client retention based on an experience the client can’t receive elsewhere
- You can earn a significant Return on Investment
- Barbershops are not cyclical and men cut their hair more frequently, this helps to make MVP virtually recession proof
- Multiple revenue streams, with proprietary hair care products and online sales
- Ease of operations, when following the franchise system
- Low overhead on training costs, barbers are already professionally trained and come prepared with their own tools
- Opportunity and ease of operations of multiple locations
- Franchisor / Franchisee owner relationship, 20+ years of franchise experience