IMAGE Studios is a chain of salon suites, aiming at the relatively high end of that market. Salon suites are an increasingly popular business model, in which the business owner runs a facility that different salon businesses can set up in. Those salons can include nail parlors, hairdressers, tattooists, and other businesses concerned with beauty and well-being.
Bringing them together means that customers can explore the possibilities that interest them in a single place, while the salons can benefit from efficiencies of scale and the greater awareness that a shared space brings. A suite also removes some of the administrative burden from these creative professionals, as the suite’s owner—in this case, the IMAGE Studios franchisee—runs that side of the business.
IMAGE studios puts a lot of emphasis on creativity in its approach to the business. Flexible models for growth let franchisees expand in a way that suits their market, bringing in different types of salons to suit them. And the brand celebrates the salons themselves with design awards that focus on the passion and creativity that goes into creating attractive, customer-friendly spaces.
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Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for an IMAGE Studios franchise, based on Item 7 of the company’s 2025 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for an IMAGE Studios franchise, based on Items 5 and 6 of the company’s 2025 FDD
Section III – Number of franchised and company-owned IMAGE Studios outlets at the start of the year and the end of the year for 2022, 2023, and 2024, based on Item 20 of the company’s 2025 FDD
Section IV – News updates on the IMAGE Studios franchise opportunity
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.🔴Free Webinar: 6 Under-the-Radar Franchise Concepts That Serious Buyers Should Know
Every month we feature 6 standout franchises that could be the opportunity you've been looking for, each evaluated on disclosed financials and matched to the type of buyer most likely to succeed with it. Can't attend live on October 27 at 6PM EST? Register now and we'll send you the full recording the next day. Reserve your spot here.Section V – Presentation and analysis of IMAGE Studios’ financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2025 FDD, including information on the:
- 2024 average revenue, key operating expenses (accounting, advertising, cleaning supplies, insurance, janitorial, legal, office supplies, rent and NNN/CAMS expense, repairs and maintenance, utilities), royalty expense (royalty expense, brand development fund expense), and estimated earnings after key expenses for the 60 franchisee-owned IMAGE Studios salon suites businesses that were in operation from January 1 through December 31, 2024 and who met IMAGE Studios’ reporting requirements, grouped by occupancy percentage (90%+, 80-89%, 70-79%, <70%)
- 2019, 2020, 2021, 2022, 2023, and 2024 number of IMAGE Studios locations opened and average, median, high, and low studio-level weekly rental rate at the time of opening
Section VI – Key ratios, comparables, computations, and analyses for the IMAGE Studios franchise opportunity (exclusive content for Platinum subscribers)
Section I – IMAGE Studios Franchise Costs
- IMAGE Studios franchise costs, based on Item 7 of the company’s 2025 FDD:
- Initial Franchise Fee: $64,500
- Business Formation: $1,000 to $3,000
- Lease Costs and Rent/Real Estate (first month’s rent and security deposit): $11,440 to $53,493
- Initial Floor Plan Layout: $500 to $1,000
- Site Development Fee: $6,500
- Utility Deposits: $0 to $3,500
- Architectural Plans and Engineering: $21,000 to $38,500
- Licensing and Permits: $2,058 to $36,385
- Leasehold Improvements: $560,772 to $1,171,126
- Furniture, Fixtures, and Equipment: $118,282 to $250,786
- Initial Training Expenses: $0 to $2,500
- Computer Equipment: $1,500 to $3,000
- Insurance (annual basis): $1,500 to $5,000
- Additional Funds for 3 Months: $35,000 to $75,000
- Miscellaneous Opening Costs and Grand Opening: $1,500 to $5,000
- Advertising and Marketing for First 3 Months: $6,000 to $18,000
- Operating Supplies: $1,000 to $2,500
- Total Estimated IMAGE Studios Franchise Costs: $832,552 to $1,739,790
Section II – IMAGE Studios’ Initial Franchise Fee, Royalty Fee, and Marketing Fee
- IMAGE Studios’ initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2025 FDD:
- Franchise Fee: $64,500
- Royalty: 6% of Gross Revenues, or $300 per week minimum, whichever is greater
- Brand Development Fund: 2% of Gross Revenues, or $110 per week minimum, whichever is greater
- Local Marketing Requirement: $2,000 each month, minimum until you reach greater than 70% occupancy. The minimum will reduce to $400 per month after you reach greater than 70% occupancy.
Section III – Number of Franchised and Company-Owned IMAGE Studios Outlets
Franchised
2022
- Outlets at the Start of the Year: 24
- Outlets at the End of the Year: 37
- Net Change: +13
2023
- Outlets at the Start of the Year: 37
- Outlets at the End of the Year: 68
- Net Change: +31
2024
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.📈Dreaming of Multi‑Unit Success? Lock In Prime Territories Before They're Gone.
Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.- Outlets at the Start of the Year: 68
- Outlets at the End of the Year: 94
- Net Change: +26
Company-Owned
2022
- Outlets at the Start of the Year: 1
- Outlets at the End of the Year: 1
- Net Change: 0
2023
- Outlets at the Start of the Year: 1
- Outlets at the End of the Year: 1
- Net Change: 0
2024
- Outlets at the Start of the Year: 1
- Outlets at the End of the Year: 1
- Net Change: 0
Section IV – News Updates on the IMAGE Studios Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the IMAGE Studios Franchise (Item 19, 2025 FDD)
- The financial performance representations below contain historical data for the 2024 calendar year for certain franchisee-owned IMAGE Studios Salons who met the franchisor’s reporting requirements by submitting monthly financial reports for the entire 2024 calendar year.
- Parts 1 to 4 show average information for total revenue and estimated earnings after key operating expenses and royalty expenses during the reporting period for the 60 franchisee-owned Image Studios Salons that were in operation from January 1 through December 31, 2024 and who met the franchisor’s reporting requirements (“Reporting Salons”). These outlets had at least 12 months or more of operations.
- Parts 1 to 4 break out this information for subsets of the 60 Reporting Salons based on each cohort’s achieved occupancy percentage as of December 31, 2024.
- These IMAGE Studios Salons are located in urban or suburban areas.
- There was one company-owned outlet that opened in 2021 whose financial data is not included in the financial performance representations.
- Parts 1 to 4 collectively include all 60 IMAGE Studios salons that were open for the entire January 1 to December 31, 2024 reporting period and who met IMAGE Studios’ reporting requirements. Parts 1 to 4 exclude 8 outlets that did not meet IMAGE Studios’ reporting requirements and 31 outlets that opened after January 1, 2024 or left the system during the reporting period.
Part 1 – Total 2024 Revenue and Estimated Earnings (Units That Achieved 90%+ Occupancy)
- Part 1 includes only the 29 Reporting Salons who achieved 90%+ occupancy by December 31, 2024. One of the eight outlets excluded from the Reporting Salons for not meeting IMAGE Studios’ reporting requirements would have been in this cohort.
Average
Total 2024 Revenue: $503,685 (100.00%)
Key Operating Expenses
- Accounting: $4,280 (0.85%)
- Advertising: $13,760 (2.73%)
- Cleaning Supplies: $1,555 (0.31%)
- Insurance: $4,802 (0.95%)
- Janitorial: $10,954 (2.17%)
- Legal: $1,721 (0.34%)
- Office Supplies: $3,125 (0.62%)
- Rent and NNN/CAMS Expense: $186,881 (37.10%)
- Repairs and Maintenance: $11,077 (2.20%)
- Utilities: $10,244 (2.03%)
- Total Key Operating Expenses: $248,399 (49.32%)
Estimated Earnings Before Royalties: $255,286 (50.68%)
Royalty Expense
- Royalty Expense (5.5%): $27,703 (5.50%)
- Brand Development Fund Expense (2.0%): $10,074 (2.00%)
- Total Royalty Expense: $37,776 (7.50%)
2024 Estimated Earnings After Key Expenses: $217,510 (43.18%)
Part 2 – Total 2024 Revenue and Estimated Earnings (Units That Achieved 80-89% Occupancy)
- Part 2 includes the 13 Reporting Salons that achieved 80-89% occupancy by December 31, 2024. One of the eight outlets excluded from the Reporting Salons for not meeting IMAGE Studios’ reporting requirements would have been in this cohort.
Average
Total 2024 Revenue: $396,333 (100.00%)
Key Operating Expenses
- Accounting: $4,254 (1.07%)
- Advertising: $21,321 (5.38%)
- Cleaning Supplies: $1,513 (0.38%)
- Insurance: $3,285 (0.83%)
- Janitorial: $10,833 (2.73%)
- Legal: -$1,336 (-0.34%)
- Office Supplies: $2,261 (0.57%)
- Rent and NNN/CAMS Expense: $170,794 (43.09%)
- Repairs and Maintenance: $9,947 (2.51%)
- Utilities: $5,446 (1.37%)
- Total Key Operating Expenses: $228,318 (57.61%)
Estimated Earnings Before Royalties: $168,014 (42.39%)
Royalty Expense
- Royalty Expense (5.5%): $21,798 (5.50%)
- Brand Development Fund Expense (2.0%): $7,927 (2.00%)
- Total Royalty Expense: $29,725 (7.50%)
2024 Estimated Earnings After Key Expenses: $138,289 (34.89%)
Part 3 – Total 2024 Revenue and Estimated Earnings (Units That Achieved 70-79% Occupancy)
- Part 3 includes the 4 Reporting Salons who achieved 70-79% occupancy by December 31, 2024. One of the eight outlets excluded from the Reporting Salons for not meeting IMAGE Studios’ reporting requirements would have been in this cohort.
Average
Total 2024 Revenue: $352,681 (100.00%)
Key Operating Expenses
- Accounting: $7,422 (2.10%)
- Advertising: $11,575 (3.28%)
- Cleaning Supplies: $899 (0.25%)
- Insurance: $3,801 (1.08%)
- Janitorial: $13,213 (3.75%)
- Legal: $861 (0.24%)
- Office Supplies: $2,494 (0.71%)
- Rent and NNN/CAMS Expense: $174,367 (49.44%)
- Repairs and Maintenance: $8,959 (2.54%)
- Utilities: $4,896 (1.39%)
- Total Key Operating Expenses: $228,487 (64.79%)
Estimated Earnings Before Royalties: $124,194 (35.21%)
Royalty Expense
- Royalty Expense (5.5%): $19,397 (5.50%)
- Brand Development Fund Expense (2.0%): $7,054 (2.00%)
- Total Royalty Expense: $26,451 (7.50%)
2024 Estimated Earnings After Key Expenses: $97,743 (27.71%)
Part 4 – Total 2024 Revenue and Estimated Earnings (Units That Achieved <70% Occupancy)
- Part 4 includes 14 Reporting Salons that achieved <70% occupancy as of December 31, 2024. The lowest occupancy percentage of these 14 outlets was 37%. Five of the eight outlets excluded from the Reporting Salons for not meeting IMAGE Studios’ reporting requirements would have been in this cohort.
Average
Total 2024 Revenue: $328,872 (100.00%)
Key Operating Expenses
- Accounting: $4,374 (1.33%)
- Advertising: $30,660 (9.32%)
- Cleaning Supplies: $947 (0.29%)
- Insurance: $4,815 (1.46%)
- Janitorial: $10,764 (3.27%)
- Legal: $213 (0.06%)
- Office Supplies: $1,875 (0.57%)
- Rent and NNN/CAMS Expense: $195,053 (59.31%)
- Repairs and Maintenance: $9,519 (2.89%)
- Utilities: $11,237 (3.42%)
- Total Key Operating Expenses: $269,456 (81.93%)
Estimated Earnings Before Royalties: $59,415 (18.07%)
Royalty Expense
- Royalty Expense (5.5%): $18,088 (5.50%)
- Brand Development Fund Expense (2.0%): $6,577 (2.00%)
- Total Royalty Expense: $24,665 (7.50%)
2024 Estimated Earnings After Key Expenses: $34,750 (10.57%)
- “Total Revenue” consists of all receipts derived by a salon from gross rental receipts and other revenue, whether the receipts are evidenced by cash, credit, checks, services, property, or other means of exchange.
- “Key Operating Expenses” include the primary and material expenses that IMAGE Studios Salons incur in the operation of their franchised business. Key Operating Expenses is not necessarily all expenses and you will likely have other expenses that are excluded from Key Operating Expenses, including common business deductions and expenses such as personal travel expenses through the business, personal automobile expenses, home office lease and expenses.
- “Royalty Expense” includes the 5.5% Royalty Fee and 2% Brand Development Fee that were in effect during the reporting period. IMAGE Studios has imputed the 5.5% Royalties and 2% Brand Development Fund contributions for all salons in Parts 1 to 4, though some of these franchised salons did not actually pay this amount. As noted in Item 6, the Royalty Fee is now 6% for new franchisees.
- “Estimated Earnings After Key Expenses” is calculated by subtracting the Total Key Operating Expenses and the Total Royalty Expense from Total Revenue.
- The current Royalty amount is 6.0% and the current amount for the Brand Development Fund is 2%. You will be expected to pay the Royalties and Brand Development Fund contributions required in your franchise agreement.
- IMAGE Studios allowed some franchisees whose data was used to create this table to spend less than the minimum local marketing expenditures. You will be expected to meet your local marketing requirements.
Part 5 – Studio-Level Weekly Rental Rate Averages at the Time of Opening, by Opening Year
2019
- Number of Locations Opened: 10
- Average: $283
- Low: $124
- Median: $251
- High: $658
2020
- Number of Locations Opened: 8
- Average: $311
- Low: $130
- Median: $292
- High: $720
2021
- Number of Locations Opened: 7
- Average: $333
- Low: $165
- Median: $310
- High: $655
2022
- Number of Locations Opened: 13
- Average: $394
- Low: $193
- Median: $350
- High: $825
2023
- Number of Locations Opened: 31
- Average: $410
- Low: $174
- Median: $387
- High: $1,250
2024
- Number of Locations Opened: 26
- Average: $400
- Low: $185
- Median: $384
- High: $1,060
All
- Number of Locations Opened: 95
- Average: $355
- Low: $124
- Median: $329
- High: $1,250
Section VI – IMAGE Studios Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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