Sola Salons Company Profile

Background

Founded in 2004 in Denver, Colorado, Sola Salons has revolutionized the beauty industry by offering fully equipped, private salon studios for independent beauty professionals. With over 730 locations across the U.S. and Canada, Sola supports more than 20,000 entrepreneurs, including hairdressers, estheticians, nail technicians, and massage therapists. The company's mission is to inspire and support beauty professionals to chase their dreams, elevate their careers, and experience the freedom of salon ownership.

Key Strategic Focus

Sola Salons' strategic focus centers on empowering beauty professionals through a unique franchise model that combines real estate investment with the dynamic beauty industry. Franchisees build and manage high-end salon studios, typically between 4,200 and 9,000 square feet, which include individual suites rented to independent beauty professionals. This model supports local entrepreneurs in pursuing business ownership.

Financials and Funding

In 2018, Sola Salons was acquired by PNC Riverarch, bringing new resources and expertise to fuel further growth. In 2020, the formation of Radiance Holdings further strengthened the company's position in the market. In 2022, TSG Consumer acquired Sola Salons, injecting fresh perspectives and additional resources into the brand.

Pipeline Development

Sola Salons continues to expand its footprint, with plans to open over 40 new locations in 2025, maintaining its status as the largest and fastest-growing salon suite concept in the industry.

Technological Platform and Innovation

Sola Salons has introduced the BookNow engine for online bookings, enhancing the client experience and streamlining operations for beauty professionals.

Leadership Team

Christina Russell: CEO of Radiance Holdings, parent company of Sola Salons.

Lori Merrall: Vice President of Franchise Sales at Radiance Holdings.

Emily Alders: Director of Education at Sola Salons.

Leadership Changes

In 2022, TSG Consumer acquired Sola Salons, bringing in new leadership and resources to further the company's growth and innovation.

Competitor Profile

Market Insights and Dynamics

The salon suite industry has experienced significant growth, driven by beauty professionals seeking independence and flexibility. Sola Salons' innovative model has positioned it as a leader in this expanding market.

Competitor Analysis

Key competitors include other salon suite franchises and traditional salon models. Sola's emphasis on fully equipped, private studios and comprehensive support for independent professionals sets it apart in the competitive landscape.

Strategic Collaborations and Partnerships

Sola Salons partnered with Beauty Changes Lives, a nonprofit organization dedicated to empowering the next generation of beauty professionals. This collaboration includes a $25,000 donation and mentorship initiatives to support emerging talent in the industry.

Operational Insights

Sola Salons' franchise model offers a unique combination of real estate investment and support for independent beauty professionals. This approach provides franchisees with a scalable business model and beauty professionals with the autonomy to run their own businesses within a supportive community.

Strategic Opportunities and Future Directions

With plans to open over 40 new locations in 2025, Sola Salons aims to maintain its position as the largest and fastest-growing salon suite concept. The company's commitment to innovation, strategic partnerships, and support for independent beauty professionals positions it well for continued growth and success.