Yes – the application deposit is subject to a full refund, at any stage of the recruitment process. After your approval as a MySkin Laser Clinics franchise partner, the deposit will be used to cover the legal costs of creating the franchise documentation. Please be aware that the application deposit of $2,200 is not included in the purchase price of your store.
It is recommended that you seek external financial advice on this matter, but 10% of the purchase price would be a reasonable amount.
A new MySkin Laser Clinics store costs between $500,000 - $700,000 + GST. This includes the franchise fee, the design of the store, as well as the fit out, all of the plant and equipment in the store and the training. Additionally, you will have to budget for working capital, local area marketing, and start-up stock.
Those interested in an existing MySkin Laser Clinics business can negotiate the sale price with the existing owner of the store or a nominated business broker. In this case, there is the $2,200 application deposit, plus the training fee ($20,000 + GST), which have to be paid to MySkin Laser Clinics, in addition to the price negotiated with the store owner.
Be aware that a bank guarantee will have to be supplied by you to the landlord (just like a "rental bond" at the beginning of a lease term).
Yes. You will need to have access to at least 50% of the purchase price. This may be in the form of actual cash, equity in your home, funding from friends or family, or a combination of these. Please note that a proof of access to these funds will be required throughout the process of purchase.
Banks typically lend 50% of the purchase price as a business loan. It is best to start the discussion with your bank as soon as possible, as this will allow you to learn about your lending capacity, and whether investing in a franchise with MySkin Laser Clinics is a viable option in your particular situation.
Given the amount of variables when running a franchise, we’re not able to give you a precise estimate. After we receive your application and perform the initial telephone interview, you will receive a Confidentiality Agreement. Once it is signed, we will provide you with the historical data regarding the returns from MySkin network. A planning guide will also be performed in order to assist with your preparation of a business plan.
No – MySkin Laser Clinics has a team of retail leasing experts that assist our partner network in the process of securing new sites, as well as negotiating lease renewals in consultation with the store owner. Once there is a new site available for purchase, we list it on the “available franchise locations” on the MySkin Laser Clinics franchising website.
Both the existing franchise partners and the external interested parties are encouraged to suggest locations. There is a system in place for assessing these sites. Given the influx of site suggestions that we receive all the time, chances are you are not the first to suggest the location. The final decision is up to our Franchising team, which chooses the best franchise partner for each site.
All new franchising partners can enjoy an extensive training programme. The programme is three weeks long and takes place in Melbourne. The training programme is inclusive of both the front and back of house operations. Franchise partners who undergo the training are provided with support in their new stores by our Area Business Development Managers during your first days. This is all to make you feel confident as you step into your new store, with a deep understanding of the business.
In order to protect the integrity of the recruitment process, MySkin does not release the criteria of the application process. As a general direction, though, we are looking for business-minded people with strong feelings towards our brands, and who want to contribute to the franchise network!
Every case of application is different, as there are many variables at play. Usually, our candidates reach the final stages of the application process within 8-10 weeks of applying. The pace of the process is always adjusted to the individual needs of the applicant. Please keep in mind that the exact timeframes may vary. Transparency being one of our main focuses, we always try to give you a clear answer to where your application stands.
No, past experience is not required. What is needed, however, is the hunger for success, the love for MySkin Laser Clinics philosophy and enthusiasm for your business. All of these can be achieved without any prior experience in this line of business. The appreciation for excellent customer service is an integral part of growing a successful franchise. All the other tools and training will be provided to you.
Many factors contribute to the final sale price of a business. These include the financial performance history of the store, goodwill, the length of time left on the lease and refurbishment, to name a few.
Negotiations regarding the price have to be performed directly with the franchise partner, and after successfully completing the telephone interview and signing the Confidentiality Agreement. The sale price of company stores is set by the Franchisor. Many variables affect the Fixed Price Contract of new site opportunities, and therefore, we initially offer a range, until we can provide you with a final number. This range includes the full build, franchise fee, plant and equipment, and training.
The typical costs are:
The above payments are monthly values. It is expected that there will be other costs that you will incur. We will inform you about them during your application process.
It is expected that you stock and sell the products sourced by our team, as they are some of the best cosmetical ranges available on the market.
Having an extensive network of professionals in Melbourne, MySkin Laser Clinics provides full support for its franchise partners. Our support team covers Finance, IT, Marketing, Leasing, Product & Supply as well as Store Design, among others. Additionally, you will enjoy the support from our team of operations professionals on the ground of each state, which will assist you in your day to day needs, as well as provide guidance and advice when needed.
In the case of purchasing a new store, the term of the Franchise Agreement is 5 years. In the case of buying an existing MySkin Laser Clinics store, the remaining term left on the existing agreement is what you will be offered.
Lease terms for different stores vary. A retails lease term is typically around 4 – 6 years in duration. The landlord sets the term of the lease, and while we do our best to secure the longest possible lease, it is rare for the franchise agreement term and the term of the lease to be exactly the same. However, that is not a problem, because as a franchise partner you are can sell your asset (the franchise) at any time during the franchise agreement term or the lease term. Keep in mind that your business will be worth the most at the beginning of a new least & franchise agreement term. In case of any questions regarding this matter, feel free to contact the MySkin Laser Clinics Franchising team, who will be happy to explain everything in detail.
The Leasing team will contact you towards the end of your lease term. The lease renewal process is consultative between the Leasing team and the franchise partner. The Leasing team will talk to you in order to understand your expectations for the commercial terms, as their goal is to work out the best possible deal for all our franchise partners.
At MySkin Laser Clinics, our experience indicates that the most profitable businesses are owner-operated. Because of that, we expect our franchise partners to be working in their businesses. The Franchise Agreement states that you must commit yourself to the business in a full-time manner for the duration of the first 6 months and on the basis of at least 20 hours per week afterward. Full-time owner-operators are preferred.
Yes, the status of an Australian Citizen or Permanent Resident of Australia is required.