Madison Reed has an exciting new path for growth: franchising.
The prestige hair color brand will begin franchising its hair color bar concept under a new joint venture with Franworth, a leading consulting firm focused on value creation for franchisors and franchisees. The digitally-native brand is the first to use a franchise business model as a growth strategy to meet customer demand for local brick-and-mortar retail.
Madison Reed Color Bars, which launched in 2017, will mirror the nine Color Bars operating in New York City, the San Francisco Bay Area and the Dallas-Fort Worth metroplex. Under the agreement, Madison Reed will continue to own, grow and operate Color Bars in select cities and, along with Franworth, develop best-in-class infrastructure to support future Color Bar franchisees. In addition, Franworth will design and deploy Color Bar franchisee recruitment efforts nationwide.
Madison Reed’s Color Bars differ from traditional salons in several ways. Color Bars aim to offer an ammonia-free hair color service for $55 to $60, and in half the time as a typical appointment. Colorists also record a client’s hair profile, hair goals and products used, enabling her to replicate the exact experience at home or at the next appointment.
“[This] unlocks the ability to scale physical retail like no other,” said Amy Errett, CEO and founder of Madison Reed. “Our responsibility is to ensure that [the customer] experience is the same regardless if she’s walking into an existing Color Bar, shopping online, coloring at home or visiting a franchise location. She will get the same high-quality hair color and the same unique brand experience.”