Sharkey's Franchise Deep Dive: Costs, Fees, and Profit Analysis

LAST UPDATED: January 2024

FRANCHISE WEBSITE: https://www.sharkeysfranchisingcompany.com/ 

NUMBER OF LOCATIONS: 130+

REPORTED COST TO GET IN: $188,665 to $299,360

REPORTED ROI (Item 19): N/A

Sharkey's Cuts for Kids is a franchise that specializes in children's haircuts, catering to children through age 14. The salons feature novelty chairs shaped like various vehicles, large TVs for entertainment and complimentary services like mini-manicures for girls, shampooing, blow-drying, and more.

How Many Sharkey's Locations Are There?

Sharkey's was founded by Linda and Scott Sharkey, who were inspired to create a better salon experience for children while taking their own kids for haircuts. Dissatisfied with the typical salon atmosphere, they envisioned a place that would be enjoyable for children and convenient for parents. With this vision in mind, they founded Sharkey's on October 1, 2002.

The first salon was a success, leading to the opening of additional locations in 2004. The concept quickly gained popularity, leading to the first Sharkey's franchise opening in 2005. Franchising for the brand caught on and expanded rapidly, with 20 more Sharkey’s salons opening across the U.S., Canada, Europe and the Middle East within just two years.

As of January 2024, there are more than 130 Sharkey’s Cuts for Kids locations. The brand boasts that it opens up to 35 new locations per year and claims to be the “fastest-growing chain of children’s hair salons.”

What Is The Sharkey's Business Model?

Sharkey’s business model revolves around providing a fun environment for children's haircuts. They offer a passive, fully-absentee ownership opportunity, encouraging single-unit owners not to work in the salon. No prior salon experience is required; instead, they seek individuals with a positive attitude, work ethic and leadership qualities.

The business is described as easy-to-operate, with multiple revenue streams including haircuts, merchandise sales, and birthday parties. The brand emphasizes its longevity and minimal competition, highlighting the constant demand for children's haircuts.

In addition to Sharkey’s Cuts for Kids, the brand offers franchise opportunities for Sharkey’s Hair It Is, a family-focused salon serving men, women, and children.

New franchise owners receive comprehensive training along with assistance with site selection and negotiation, salon design, and marketing programs. Sharkey's also provides ongoing support through owner meetings and virtual assistance during the grand opening period.

How Much Can Sharkey's Franchise Owners Make?

Sharkey’s does not make franchisee earnings publicly available. However, according to third-party source SharpSheets, the annual median sales of franchised Sharkey’s salons operating in 2022 was around $257,000. To learn more, contact the team about reading the Franchise Disclosure Document (FDD), which will state the total earnings of any company or franchise-owned unit as a reference.

How Much Does It Cost to Open Sharkey's?

The investment required for a single Sharkey's Cuts for Kids franchise ranges from $188,665 to $299,360, with potential savings of approximately $74,000 for a two-unit or three-unit purchase. For a Sharkey's Hair It Is franchise, the investment ranges from $176,670 to $237,495, with prices varying based on location.

What Is the Franchise Fee for Sharkey's?

The franchise fee is $159,990, according to Entrepreneur. 

Who Are the Leaders of Sharkey's?

Scott Sharkey - CEO

Denis Kurdi - Chief Operating Officer 

What Helpful Articles Can I Read to Learn More About Sharkey's?

• Start a Sharkey’s Cuts for Kids Franchise in 2024
• Sharkey's Cuts For Kids Costs $238K (2023 Profit Stats)
• Sharkey's Cuts for Kids Analysis

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Every great franchisee had help buying a franchise. Want to learn more about how 1851 helps franchisees find the right franchise opportunity? Visit www.1851growthclub.com and start your journey.

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