Sola Salon Studios Franchise Cost, Revenue & Review 2026
- Investment
- $1.2M – $1.9M
- Disclosed sales
- $442K
- gross sales, not profit
- SBA charge-off
- Limited · 13 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Sola Salon Studios is a franchise that leases private, move-in-ready salon suites to independent beauty professionals such as stylists, estheticians, and nail techs. Franchisees run the facility, earning rent and managing the studios rather than providing hair services directly.
FranchiseVerdict summary · 2026
A Sola Salon Studios franchise requires a total initial investment of $1.2M – $1.9M, including a $60K franchise fee and an ongoing 5.5% royalty[2]. Per the 2025 FDD, average unit revenue was $442K[2]. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✓ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored8 of 8 headline figures on this page cite a page of the filing.
Overview
- Investment
- $1.2M – $1.9M
- 62nd pct Personal Care…
- Avg gross sales
- $442K
- 11th pct Personal Care…
- Royalty
- 5.5%
- 9th pct Personal Care…
- Units
- 729
- 59th pct Personal Care…
- SBA charge-off
- N/A
Quick verdict · Personal Care & Beauty · color = vs category peers
Green = favorable by >10% vs Personal Care & Beauty median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $1.2M – $1.9M including a $60K franchise fee, 5.5% ongoing royalty.
- RETURNSAverage unit revenue of $442K/year (median $420K).
- RISKVerdict B (Above average), verdict score 64/100 (higher is better).
- GROWTHPositive: net +29 franchised outlets in the latest year (33 opened, 4 closed) (Item 20).
- GROWTHSystem growing at 18.9% CAGR over 3 years with 729 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Sola Franchise, LLC
- Parent company
- Radiance Borrower, LLC (ultimately TSG9 L.P.)
- FDD Item 1, page 8 of the 2025 FDD
- Ultimate parent
- TSG9 L.P.
- FDD Item 1, page 8 of the 2025 FDD
- Predecessor
- Sola Franchise Corporation (n/k/a Let's Ride Corporation)
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Ben Jones
- Incorporated in
- Colorado
- HQ
- 300 Union Boulevard, Suite 600, Lakewood, Colorado 80228
- Auditor
- Plante & Moran, PLLC
- Audited financials
- Franchisor revenue
- $21.0M
- vs $19.1M prior year
Affiliated brands
- Style Direct
- Sola Salon Studios California
- Radiance Distribution
- Sola Salon Studios
Other brands the franchisor or its parent operates (Item 1).
Same owner · FDD Item 1, page 8
1 other brand on this site name TSG9 L.P. as parent or ultimate parent in their own FDD.
Grouped by the owner's name as each filing prints it (this page: the 2025 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
Overview
About
- CEO
- Ben Jones
- Headquarters
- CO
- Founded
- 2018
- FDD year
- 2025
- States available
- 46
Can you afford it, and what does the money buy?
Entry cost runs 288% above the typical personal care & beauty franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown21 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $60K | $60K | |
| Improvements/Conversions (Gross) | $786K | $1.2M | |
| Architectural Fees | $13K | $35K | |
| Site Evaluation Services | $2K | $4K | |
| Rent or Real Estate | $34K | $121K | |
| Furniture & Fixtures | $205K | $328K | |
| Low Voltage | $6K | $49K | |
| Signage | $12K | $15K | |
| Travel and Living Expenses | $3K | $4K | |
| Site Selection Assistance | $0 | $4K | |
| Property Management Software | $744 | $1K | |
| Utilities | $1K | $22K | |
| Operating Supplies | $1K | $21K | |
| Market Introduction Fee | $20K | $20K | |
| Business Licenses and Fees | $2K | $3K | |
| Technology Fee | $750 | $2K | |
| Insurance | $3K | $5K | |
| Computer Equipment and Software | $1K | $2K | |
| Repairs and Maintenance | $3K | $21K | |
| Labor | $9K | $15K | |
| Total initial investment | $1.2M | $1.9M |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $1.2M – $1.9M
- Middle of category vs category
- Liquid capital req'd
- $20K – $50K
- Top 40% of category vs category
- Franchise fee
- $60K – $60K
- Middle of category vs category
- Royalty
- 5.5%
- Set by a formula · typical 6–8%
- Ad fund
- 1.5%
- typical 3–5%
- Total fee load
- 7.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.5% of gross sales |
| Marketing / ad fund | 1.5% of gross sales |
| Technology fee | $250 |
| Transfer fee | $13K |
| Renewal fee | $8K |
| Inventory (initial) | $1K – $21K |
| Total fee load | 7.0% of rev |
What do units actually make?
Average unit sales run 16% below the personal care & beauty norm.
Source: FDD 2025 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for Sola Salon Studios until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
Total invested capital · disclosed
$1.6M
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own lease quote, labor market and build-out budget.
Returns model · single-unit ROIC
What would one Sola Salon Studios unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2025 FDD
Financial Performance
- Avg gross sales
- $442K
- Per unit, per year
- Median gross sales
- $420K
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- gross sales
- Sample size
- 625 outlets
- vs category median 38 · large
- Range (low → high)
- $59K→$1.2MCited, not corroborated — printed on page 55 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 4 / 10
- vs category median 4 / 10 · typical
Compared against 177 Personal Care & Beauty brands
Revenue is only 0.3x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $442K/year in gross sales. Revenue-to-investment ratio: 0.3x.
Fee burden
Total ongoing fee load of 7.0% (near the Personal Care & Beauty median).
Disclosure
Transparency score 4/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System expanding at 18.9% CAGR over 3 years across 729 units — operators are staying and new ones are joining.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Personal Care & Beauty medians
How Sola Salon Studios Compares
Category median of published Personal Care & Beauty brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 729
- Opened
- 33
- Last reporting year
- Closed
- 4
- Non-renewed
- 2
- Term expired, not renewed (per Item 20)
- Turnover rate
- 0.5%
- Company-owned
- 69
- Corporate units in the system
- % franchised
- 91%
- vs corporate-owned
- Net growth (3-yr)
- +18.9%
- Net unit change over 3 years
- 3-yr CAGR
- +18.9%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Not renewed
- 2
- Transferred
- 7
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 44 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Available to sell in · Item 12
- California
- Illinois
- Indiana
- New York
States where the franchisor is registered to sell new franchises (FDD registration filings).
Where the owners are · Item 20 owner list
176 current owners across 44 states; 7 former (terminated, transferred or not renewed) listed separately.
- CA 32
- TX 11
- FL 10
- IL 9
- NY 9
- PA 8
- AZ 7
- MI 6
- WA 6
- WI 5
- CO 4
- CT 4
- +32 more states
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 13
- Loan volume
- $10.5M
- Median loan
- $547K
- 50th percentile
- Charge-off rate
- Limited · 13 loans
- Limited SBA coverage: 13 loans, rate hidden until 10 have resolved and loans reach 2% of franchised units
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Limited · 13 loans
- 5-yr charge-off
- Limited · 13 loans
- Loans approved 2021+
- Active lenders
- 7
- Defaults
- 0
- Typical loan rate
- 5.8%
- avg rate to borrowers
- Franchised industry avg
- 12.1%
- n=2,577 loans
- Jobs supported
- 47
- 0.5 per loan
- Lender concentration
- 46%
- top lender's share
Borrower mix: 0% went to startups / new businesses, 100% to established operators
Franchise vs independent — in beauty salons, franchised businesses charge off at 12.1% vs 18.6% for independents — franchising is associated with 35% lower SBA default risk in this category.
Top lenders financing Sola Salon Studios franchisees
Showing 3 of 7 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for Sola Salon Studios from SBA 7(a) FOIA data.
- Principal loss rate
- 0.0%
- Avg SBA guarantee
- 75%
- Avg interest rate
- 5.78%
- Lender concentration
- 46.1%
- Job velocity
- 0.5 per $100K
- NAICS benchmark
- 10.9%
- NAICS 812112
- Jobs supported
- 47
Top SBA lendersTop lender holds 46% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Wells Fargo Bank National Association | 6 | $3.3M | 0.0% |
| 2 | Zions Bank, A Division of | 2 | $1.3M | 0.0% |
| 3 | Truist Bank | 1 | $453K | 0.0% |
| 4 | Columbia Bank | 1 | $4.2M | 0.0% |
| 5 | Enterprise Bank & Trust | 1 | $475K | 0.0% |
| 6 | First National Bank of Omaha | 1 | $280K | 0.0% |
| 7 | First Federal Bank | 1 | $500K | 0.0% |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| CACalifornia | 3 | 0 | 0.0% |
| COColorado | 2 | 0 | 0.0% |
| TXTexas | 2 | 0 | 0.0% |
| FLFlorida | 1 | 0 | 0.0% |
| MNMinnesota | 1 | 0 | 0.0% |
| OROregon | 1 | 0 | 0.0% |
| TNTennessee | 1 | 0 | 0.0% |
| UTUtah | 1 | 0 | 0.0% |
| VAVirginia | 1 | 0 | 0.0% |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Parent-level financials show strong net worth $89.9M and net income $7.33M on $21M revenue; no litigation, bankruptcy, or going-concern. Large 729-unit system with +18.9% net growth, audited, Item 19 disclosed.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Plante & Moran, PLLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Total net sales per audited financials (service revenue + franchise fees + franchise marketing fees + other revenue). Gross Revenue cohort in Item 19 is per-unit franchisee sales, not franchisor total revenue.
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: No
- Restricted to system-approved products: No
- Can negotiate own supplier terms: Yes
Score breakdown · what drove the 64 / 100 verdict
- 01MINORNo litigation, no bankruptcy, no going-concern
- 02MED+18.9% net growth, audited, Item 19 disclosed
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 7.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 2 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 20 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 120 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 6 |
| Mandatory arbitration | Yes |
| Arbitration location | Colorado |
| Jury trial waiver | Yes |
| Governing law | Colorado |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 17 hrs
- On-the-job training
- 0 hrs
- Training location
- On-site and corporate
- Ongoing training
- Optional
- Site selection
- franchisee with franchisor advice/approval; optional paid Site Selection Assistance service
- Franchisor financing
- Not offered
- Item 10
- POS system
- Rent Manager
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Rent Manager
Item 20 · call current owners
Franchisee Contacts
183 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Sola Salon Studios franchise?
The total investment to open a Sola Salon Studios franchise ranges from $1.2M – $1.9M, with an initial franchise fee of $60K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Sola Salon Studios franchise owners earn?
According to Item 19 of the Sola Salon Studios FDD, the average gross sales per unit is $442K. The median is $420K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Sola Salon Studios?
Sola Salon Studios is franchised by Sola Franchise, LLC. Its parent company is Radiance Borrower, LLC (ultimately TSG9 L.P.). The ultimate parent named in the FDD is TSG9 L.P.. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Sola Salon Studios FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Sola Salon Studios FDD and qualifies whose outlets they describe.
What is Sola Salon Studios's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Sola Salon Studios (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Sola Salon Studios franchise locations are there?
As of their most recent FDD filing, Sola Salon Studios has 729 total units in the United States, including 660 franchised units and 69 company-owned units. 33 new units were opened in the latest reporting year.
Is Sola Salon Studios a good franchise to buy?
FranchiseVerdict rates Sola Salon Studios as a B-grade franchise with a verdict score of 64 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.