Are you looking for the Drybar franchise but are confused about whether the Drybar franchise owner can make a good profit or not?
If yes, then you are at the right place. In this article, we are going to discuss how much does a Drybar franchise owner make and the significant facts related to the Drybar franchise that define the profitability of the Drybar franchise. So, keep reading to learn more.
About Drybar
Drybar is a hair salon that is based on California style. In 2008, it was founded by Alli Webb as a side business that offered in-home hair services.
Within a few years, his business was successful, and he co-founded a salon in Brentwood, California shortly. Currently, it has more than 145 units across the world and is rapidly growing.
Drybar offers a franchise opportunity to entrepreneurs who have experience in franchising and managing multi-site operations.
The policies of Drybar are neither flexible nor rigid. But the requirement list of Drybar is long. Let us have a look at the stringent requirements and criteria to buy the Drybar franchise:
- Experience in retail and hospitality
- Require a huge space
- Require net worth of $750,000 and $250,000 in liquid asset
- Good communication skills to manage customer service
- Commitment
- Exuberance and vigor
However, they also provide some benefits to the franchisees. They provide an initial training program and different marketing support.
Also, they provide third-party financing and 50% off on franchise fees as a veteran discount to eligible candidates.
How Much Does A Drybar Franchise Owner Make?
As per records, Drybar generates around $64 million through its service sales annually. There is information available related to individual Drybar franchise owners’ profits.
However, we can give you some estimates, which will be helpful for you to get an idea about this franchise’s worth.
As per records, there are 145 units of Drybar, and annual revenue is around $64million.
On this basis, we calculated the average sales service of an individual unit, and it came down to be around $447,552, of which 25% is counted as profit.
However, this is not official data. It is possible that an individual franchise owner can make more or less than this.
How Much Does A Drybar Employee Earn?
Drybar employees’ hourly rate ranges from $15-$26 an hour. However, Drybar employees’ hourly rate varies depending on their work position and capacity.
Drybar pays its employees an average of $26 an hour. An employee of Drybar with the job title- of Front Desk receptionist can earn an average of $15 an hour, while other employees, like a Store manager, can earn an average rate of $30 an hour.
Also Read: Supercuts Franchise
What Is Drybar Known For?
Drybar is a hair salon that is especially known for its exclusive blowouts, which include wash, blow dry, and hair styling. They provide 45 minutes of relaxation, beautification, and happiness.
Moreover, the flat-screen televisions are installed in their bars on which you can enjoy some chick flick shows.
Pros & Cons Of Drybar Franchise
Pros Of Drybar Franchise
- Provide training and support
- Gorgeous setting
- The real estate development team
- Higher margin
- Special discount and offer
- Demanding niche
- High-quality service
Cons Of Drybar Franchise
- Experience is required
- Require a lot of space
- Suitable financial investment
- High standard management
- Local competition
Is Drybar Franchise Profitable?
There is no data available that define the profitability of the Drybar franchise. However, there are different aspects on which we can calculate the profitability of the Drybar franchise.
The profit is determined by some factors. First, it is always proportional to investment, and Drybar requires a high-cost investment which means there are high possibilities of making a good amount of profit.
Also, it has a global presence and is recognized as a good brand which means they are generating good profit.
Moreover, a beautician is a highly demanded niche in the current market and has a good profit margin. And also, it is skill-based work, so a businessman doesn’t need to fluctuate capital.
So, the Drybar has the potential to make a decent amount of profit, and all profitability aspect has green flags.
Wrap Up
As we discussed above, Drybar offers salon franchise opportunities to an entrepreneur who has experience in franchising and managing multi-site operations.
However, buying a Drybar franchise is not an easy task. There are many requirements that franchisees must fulfill.
But, once you are done with the process and requirement, then there is no limitation and restriction.
You can easily manage your salon and make a decent amount of profit. And the future potential of the Drybar franchise is also good because the beautician niche is a highly demandable niche in the market.
Moreover, they also provide training programs, and other marketing supports to manage your business.
Frequently Asked Question
How many Drybar franchises are there?
Drybar has more than 145 outlets around the world.
What is the annual revenue of the Drybar Franchise?
An individual Drybar franchise owner makes approximately $447,552 annually.
How much does it cost to buy a Drybar franchisee?
An initial investment required to open a Drybar franchise is $593,393 – $1,259,325.
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.