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FDD Talk 2017: What You Need to Know About the Blo Blow Dry Bar Franchise Opportunity (Financial Performance Analysis, Costs and Fees)

by Franchise Chatter on August 29, 2017

in FDD Talk 2017: Salon Franchises, Franchise Earnings, Salon Franchise

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In this FDD Talk 2017 post, you’ll learn the following:

  • Section I – Background information on the Blo Blow Dry Bar franchise opportunity, including relevant news updates
  • Section II – Estimated initial investment for a Blo Blow Dry Bar franchise, based on Item 7 of the company’s 2017 FDD
  • Section III – Initial franchise fee, royalty fee, marketing fee, and other fees for a Blo Blow Dry Bar franchise, based on Items 5 and 6 of the company’s 2017 FDD
  • Section IV – Presentation and analysis of Blo Blow Dry Bar’s financial performance representations, based on Item 19 of the company’s 2017 FDD, including information on the:
  • 2016 average, median, high, and low revenue for the franchised Blo Blow Dry Bar businesses that have been open for 1-2 years, 2-3 years, and 3+ years as of March 31, 2017 (separately stated)

Section I – Background Information

14 Things You Need to Know About the Blo Blow Dry Bar Franchise

Celebrates 10th Anniversary

1.  Blo Blow Dry Bar celebrated its 10-year anniversary in June 2017. To celebrate the milestone, select Blo locations across North America participated in a scavenger hunt to provide loyal customers with a free blow out.

2.  The Hot Pink campaign was designed to build brand awareness and consumer engagement by hiding certificates for a free blow out in 10 of Blo’s hottest markets. The birthday festivities were documented using the hashtag #HappyBdayBlo on Twitter and Instagram.

3.  When speaking of Blo’s success, CEO Vanessa Melman Yakobson said, “It is such a point of pride that as North America’s original blow dry bar, we revolutionized the beauty category 10 years ago. It is also so thrilling to have created a fulfilling opportunity for our franchise owners to pursue their entrepreneurial ambitions, and for our talented staff to pursue their passion.”

New Summer Menu

4.  In early June, Blo Blow Dry Bar rolled out its new Summer Hair Menu, which features three new hairstyles, the “Coastal Cutie,” “Knotty by Nature,” and “Festi-gal.”

5.  The Coastal Cutie is a down style that features loose beach waves and is styled with a texture spray for a “lived in” look. The Knotty by Nature style features an intricate knot in the back and can be paired with Blo’s classic Pillow Talk, Hollywood, or seasonal Coastal Cutie styles. Fest-gal, which was the winner of Blo’s Summer Menu Hairstyle Contest held during the spring, is a twist on the classic pony tail and features a Dutch Braid.

6.  According to Chanel Peraza-Munoz, Blo’s Corporate Style Director, “The looks for our summer hair menu are a little more undone and natural versus our more glamorous, traditional styles available year-round on our regular hair menu.”

7.  Twice a year, Blo releases an exclusive seasonal hair menu, in addition to its seven signature looks that are available all year. The seasonal hair menu styles are chosen by Blo’s Corporate Style Directors, and are typically on trend for the year.

New Locations

8.  In early August, Blo Blow Dry Bar announced that the franchise had grown to over 90 locations with several new blow dry bars opening over the next few months. Blo will be opening locations in both new and existing markets such as Las Vegas, Nevada; Chicago, Illinois; Strongsville, Ohio; Tulsa, Oklahoma; Jersey City and Bernardsville, New Jersey; Detroit, Michigan; Greenwich, Connecticut; Boulder and Denver, Colorado; Annapolis, Maryland; and Rancho Cucamonga, California.

9.  Customers can follow Blo on Instagram to see grand opening dates and avail of lots of giveaways.

Company History

10.  Founded in 2007, Blo Blow Dry Bar started out as a three-unit blow dry bar chain in Canada. The current owners of Blo, Canadian entrepreneurs Ari Yakobson and his wife Vanessa Melman Yakobson, purchased the company in 2009 and immediately began franchising. Prior to buying Blo, the Yakobsons owned a chain of children’s hair salons across Canada.

11.  Initially, Ari Yakobson thought that the Blo concept was “ridiculous and wouldn’t work,” but after taking a look at the company’s numbers, business model, and systems, he felt that Blo could become massive with “a little injection of capital.”

12.  In June 2014, actress Gwyneth Paltrow and her longtime hairdresser, David Babaii, partnered with the company. Paltrow now offers advice on the salons’ interior design and social media strategies and helps market the growing brand.

13.  Today, Blo Blow Dry Bar has over 90 locations in Canada, the U.S., and the Philippines.

Entrepreneur’s Franchise 500

14.  Blo Blow Dry Bar has not yet appeared on Entrepreneur’s annual Franchise 500 list.

Section II – Estimated Costs

  • Please click here for detailed estimates of Blo Blow Dry Bar franchise costs, based on Item 7 of the company’s 2017 FDD.

Section III – Initial Franchise Fee, Royalty Fee, Marketing Fee, and Other Fees

  • Please click here for detailed information on Blo Blow Dry Bar’s initial franchise fee, royalty fee, marketing fee, and other fees, based on Items 5 and 6 of the company’s 2017 FDD.

Section IV – Financial Performance Representations (Item 19, 2017 FDD) and Analysis

  • As of March 31, 2017, there were 44 franchised units in the field who were open between April 1, 2016 and March 31, 2017; only 27 of which had been operating for more than 1 year. The results provided below are for the period January 2016 to December 2016.

Open 1-2 Years

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