The Salon Suite Franchise Is Combining Private Equity Support With a More Flexible Operating Model
Opening 100 locations took Image Studios approximately 16 years. Adding another 100 may take only a few.
The salon suite franchise, which began in 2009, now operates around 140 locations. It opened 34 studios in 2025 and expects to complete about 40 openings this year.
Projects already scheduled for 2027 and 2028 could keep the company near that annual pace. If development proceeds as expected, Image Studios plans to open its 200th location during 2027.
The acceleration reflects changes taking place throughout the company, from corporate hiring and financing to real estate selection and tenant support.
MPK Helps Build Infrastructure for Expansion
MPK Equity Partners invested in Image Studios in 2024. At that point, the franchise already had numerous locations in its development pipeline, but converting those commitments into operating studios required more organizational support.
The partnership helped Image Studios develop lender relationships and improve its ability to locate, negotiate and close commercial properties.
It also encouraged the company to examine whether its corporate team was properly structured for the next phase of growth.
Anne Goldman was recruited as vice president of commercial real estate following her experience with Dave’s Hot Chicken. Blake Steinvorth joined as controller, adding further support to the company’s financial operations.
CEO Jason Olsen said MPK offers strategic input without attempting to take control of everyday management. That allows Image Studios to benefit from outside experience while preserving the leadership and culture that built the original business.
Growth Continues Despite Difficult Market Conditions
The path to 200 studios has not been free of obstacles.
Inflation and higher living costs have placed pressure on consumer budgets. Construction, labour and operating expenses have also increased for many franchise businesses.
Commercial real estate created an additional problem. Image Studios’ earlier franchisees frequently opened in retail centers, but vacancy in that market has fallen to approximately 4.5 percent.
Limited availability means more competition for space, potentially higher rent and fewer suitable choices for incoming franchise owners.
Image Studios responded by reconsidering what a salon suite location needs to look like.
Vacant Offices Offer an Alternative
While retail space is scarce, Class A office properties have vacancy rates close to 30 percent nationally.
That difference has encouraged Image Studios to evaluate office buildings that can be converted into beauty and wellness destinations. This approach may help franchisees enter desirable markets without waiting for a shopping center unit to become available.
Office property owners also have reasons to consider these conversions. A salon suite location can introduce daily customer traffic and occupy space that might otherwise remain vacant.
The properties still need suitable access, parking, plumbing and construction potential, but the larger inventory gives the franchise more opportunities to find workable locations.
Boca Raton Conversion Shows the Model in Practice
Image Studios franchisees Lindsay and Tyler Cole operate two locations in South Florida.
The couple entered the franchise system after selling a previous business. They were attracted to the brand’s upscale presentation and later gained confidence from their interactions with its leadership team.
Their Boca Raton studio was developed inside an office building. The property was not immediately ready for salon operations, and the parties spent considerable time negotiating the necessary work.
Five office bays were eventually demolished and replaced with a layout designed for private beauty suites. The conversion created a practical location and gave the Coles firsthand experience with Image Studios’ expanded real estate strategy.
Lindsay Cole said corporate support remained strong after they joined the franchise. The team continued responding to questions and helping with the location instead of becoming less available after the agreement was completed.
One Studio Can Serve Multiple Beauty Categories
The company’s tenant model is designed to accommodate more than hair services.
Approximately half of the suites are typically occupied by hairstylists. The remaining rooms may be leased to professionals offering nails, lashes, brows, esthetics, injectables, permanent cosmetics and other personal-care services.
Individual rooms can be adapted to different professional needs. That gives franchisees the ability to respond when new services or beauty trends become popular.
It also makes the location more convenient for customers. Instead of travelling to several businesses, a person may be able to arrange hair, nail, skin-care and cosmetic appointments in the same building.
An average Image Studios location receives approximately 1,500 female visitors per month. This traffic gives every tenant an opportunity to be discovered by customers visiting other professionals.
Variety Creates Referrals Instead of Direct Competition
A carefully selected tenant mix can reduce competition inside the studio.
When professionals offer different services, they have more reason to refer customers to one another. Those referrals can create a cooperative environment while helping each tenant expand independently.
The community aspect may also make the location more attractive to beauty entrepreneurs. They receive the privacy and control of their own suite without being completely separated from other professionals.
For franchise owners, a positive environment can contribute to tenant satisfaction and longer leases.
Occupied Suites Drive the Economics
Revenue performance in the salon suite model is closely connected to occupancy.
Image Studios locations operating at 90 percent occupancy or higher produced average unit volume of $531,385 last year. Locations below 70 percent occupancy averaged $327,883.
That gap makes tenant recruitment and retention central to franchise operations.
A franchisee must do more than develop an attractive property. The owner must introduce the studio to local professionals, explain its value and create a setting where established tenants want to remain.
Technology Supports the People Inside Each Suite
Independent beauty professionals are responsible for managing responsibilities that may previously have been handled by a salon employer.
Image Studios offers an app that includes scheduling, payment processing, customer records, income forecasting and expense tracking. The goal is to simplify common business tasks and give tenants a clearer view of their operations.
Entrepreneurship resources are also available for professionals who need guidance beyond delivering beauty services.
The company continues to collect feedback from its network when evaluating new tools. Resources that prove helpful to one operator may be introduced more widely when they can benefit other studios.
By combining private suites, diverse services, alternative real estate and stronger corporate infrastructure, Image Studios is developing a model built for faster expansion. Its upcoming 200-location milestone will test how effectively those elements work together as the franchise enters its next stage.
Learn more about Image Studios franchise opportunities.
