IMAGE Studios® has arrived in Ohio!
We are excited to announce that Stephanie and Jonathan Miller have joined the company’s nationwide team as they open 2 new locations in Ohio. We can’t wait to see you shine and break ground in a new region of the country, we are so excited to expand to the Midwest!
If you are interested in your journey to Creativity, Freedom, and Success please visit https://lnkd.in/g9ETwCN
We are excited to announce that Barry & Wendi Fast have joined the company’s nationwide team as they open 3 new locations in San Diego, California!
Barry and Wendi are such an amazing addition to our IMAGE Family in California! We cannot wait to see their success!
If you are interested in your journey to Creativity, Freedom, and Success please visit https://lnkd.in/g9ETwCN
Salt Lake City- Franchise Gator has chosen IMAGE Studios® as a Fastest Growing Franchise in 2021. This is the 8th year that the online franchise directory has published a Fastest Growing Franchises ranking, and was created to help future franchise owners identify franchises on the rise.
IMAGE Studios® is a nationwide franchise brand with a real estate model that is revolutionizing the future of the salon industry. Founder and CEO, Jason Olsen commented, “We are a unique real estate investment opportunity. Our franchise is driven by our core values of creativity, freedom, and success, for both our franchisees and the health, beauty, and wellness entrepreneurs who build their businesses with IMAGE.” IMAGE Studios® helped launch 364 new entrepreneurs in 2020 – with the overwhelming majority being businesses owned by women and minorities.
“Strong growth is one of many areas a prospective franchisee should look at when evaluating a franchise brand,” said Eric Bell, General Manager at Franchise Gator. “There are 2 sides to the growth coin, selling new units, and not losing those that are up and running. Growth in franchise units is a figure prospective franchisees should be looking at during the exploration process.”
IMAGE Studios® is ranked as the number 25 franchise on the Fastest Growing Franchises list.
“Congratulations to IMAGE Studios® for making the Fastest Growing Franchises list,” says Bell. “More units equals more royalty dollars which is the cornerstone to a successful system. One that future franchisees are going to be lucky to join.”
Source – www.franchising.com
IMAGE Studios® Franchise is excited to announce that Sean Knapp will be joining the company’s nationwide team as he opens 10 new locations in New Jersey! The brand will now have over a third of its locations on the east coast as it moves into its next phase of growth nationwide. Currently, IMAGE Studios has locations open in 10 states with 81 locations under development across the country.
Sean Knapp commented, “IMAGE Studios® is the best in coworking salon suites. They are setting the highest standard for design and support for our beauty, health, and wellness professionals, and I am so excited to be part of this journey. Our 10 locations in New Jersey will be a benchmark for cutting edge design.”
Sean is a committed entrepreneur with existing businesses in the health and wellness sector.
Founder and CEO, Jason Olsen, says, “IMAGE is known for bringing modern and luxurious spaces to the professionals in the beauty, health, and wellness industries. We are proud to be the leader in creating beautiful salon studios that are turnkey spaces for professionals to open their own business. Our business model creates a platform for success and we have thousands of professionals, mostly women, who have become entrepreneurs.
The American dream becomes a reality for any professional who is ready to take the next step in their career. We are known for our cutting edge design, strong company culture, great franchise operations and support, and best-in-class branding that you see in each of our coworking salon suites. We love bringing life to retail spaces across the United States. There’s nothing quite like IMAGE.”
IMAGE Studios®, a leader in the salon and spa studio space, has opened its newest location in Dunedin, Florida by IMAGE Owners, Julie & Hilton Bell. IMAGE is part of a burgeoning trend in the beauty business, which leases turnkey salon suites to beauty professionals looking to open their own business, empowering entrepreneurship and growth in the growing $63 billion beauty industry.
Leading the trend in the creative coworking space boom, IMAGE Studios® operates similarly to WeWork, Regis, and Impact Hub, with a focus on turnkey salon space for beauty professionals. IMAGE Studios® takes large retail space (typically 4,000 – 6,500 SF) and builds anywhere from 25-35 salon “studios” that are leased to professionals including hairstylists, estheticians, microblade specialists, massage therapists, tattoo artists, and other health and beauty service providers, who operate their businesses within these studios.
IMAGE Studios® founder, Jason Olsen, said “it is great to see locations opening in Florida! We were excited to work with Julie and Hilton, they have a great energy and built a beautiful, high-end salon. We can’t wait to see the success they will have as more and more IMAGE Pros join this incredible location.”
There are over 65 IMAGE Studios® in development throughout the US, and this is growing every single month. The company expects to have 300 locations in development throughout the continental US by 2023 to meet the demand of its business model. The build-out stage of our development covers the areas of design, construction, milestones, and timelines. IMAGE Studios® is an exclusive studio salon that provides modern, high-end salon spaces at affordable rates to salon professionals, making it possible for professionals to become successful entrepreneurs. By providing a luxurious and high-end space, like-minded professionals to connect with, and the guidance of mentors invested in the success of these entrepreneurs, IMAGE Studios® provides a unique opportunity to ensure success for all. IMAGE boasts the simplicity of the concept: IMAGE Studios® provides an incredible space and atmosphere; the IMAGE Pros bring the passion, talent, and clientele. Together, we create an intoxicating formula for success for our small business owners across the country.
There’s a lot of news out there right now, and it can be overwhelming during these uncertain times. IMAGE Studios is sorting through the noise to help you understand what it means for you & your business.
The government is expected to pass a new stimulus package this week which includes an additional $310 billion for the Paycheck Protection Program (PPP), providing more sole proprietors, independent contractors, self-employed, and small businesses with the opportunity to receive the forgivable loan. With a high demand for PPP funds, it is likely that the additional funds will be distributed quickly. Many applications are already lined up to receive the next round of funding, so it is recommended that you apply as soon as possible to get your application in line. It’s highly recommended that you apply through your bank, as people with accounts get preferential treatment during this process.
PPP loans are part of the COVID-19 government stimulus program (CARES Act) and are made to help sole proprietors, independent contractors, self-employed, and small businesses cover payroll and other business expenses like rent and utilities. The original funds were quickly exhausted, and more are expected to be distributed soon. This includes payroll for yourself, even if you have 0 employees. When used for qualifying expenses, you may be eligible for a 100% forgiveness grant, meaning you wouldn’t need to pay it back if you meet their criteria (find more info here).
Yes, you can still apply for the PPP. Even if you’re a sole proprietor, independent contractor, or self-employed, and have no employees, you can apply. Your own net earnings count as qualifying payroll costs, which you can find on your 2019 Form 1040-C.
Depending on your type of business, you can use your 2019 Form 940/941, 1040-C, K-1, tax returns or W-2 statements (if you issue them).
The Small Business Association Economic Injury Disaster Loan Program (EIDL) is a program in response to natural disasters that has been expanded to include the COVID-19 pandemic. The EIDL program provides small businesses like yours with working capital loans that can help you pay expenses during the time of temporary loss of revenue you are experiencing right now. You can apply for an EIDL advance of up to $10,000, which is a grant and you do not have to repay. It’s important to understand that under the new guidelines for EIDL you can apply for $1,000 per employee, up to $10,000 max for the portion of this loan that is a grant and is not owed back. If you find this program is right for you, then we recommend completing this application as soon as possible.
Click here to apply online.
Below is a video that outlines the process of applying for an EIDL loan on SBA’s website.
The Small Business Association Paycheck Protection Program (PPP) is a program in response to the COVID-19 pandemic. The PPP program provides 100% federally guaranteed loans to small businesses, independent contractors and sole proprietors who maintain their payroll during this emergency. Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward.
This information is very important to our IMAGE Pros because as a sole proprietor or self-employed individual you can use these funds to continue to pay yourself during this crisis. To apply be sure to follow the steps outlined below. It’s important to apply as soon as possible if you think this program may be right for you because funds are limited.
The law says that your maximum loan amount is 2.5 times your average monthly “Payroll Costs” for 2019. If your business did not exist before June 30, 2019, your bank will look at your costs in January and February 2020. Payroll costs under the PPP program include:
For a sole proprietor or self-employed person: your monthly draw (take home profit), wages, commissions, income, or net earnings from self-employment, (capped at $100,000 annually).
For example, if your average monthly payroll is $7,000, you would multiply that by 2.5X, and your total loan amount would be $17,500 that you can use towards payroll, rent, and utilities for your business.
Remember: No more than 25% of your PPP loan may be used for rent or utilities; if you use more than 25% for non-payroll expenses it will affect the amount of loan forgiveness that you are eligible for after June 30, 2020.
Your “employment benefit costs” including costs for paid-vacation, parental, family, medical, or sick leave allowance for separation or dismissal; payments required for the provisions of group health care benefits including insurance premiums; and payment of any retirement benefit
State and local taxes assessed on compensation Not covered under “Payroll Costs” are:
What does the SBA PPP stand for? The Small Business Association Paycheck Protection Program.
Who is eligible? A small business with fewer than 500 employees, an individual who operates as a sole proprietor or independent contractor or an individual who is self- employed who regularly carries on any trade or business is eligible to apply. Sole proprietorships will need to submit schedules from their tax return filed (or to be filed) showing income and expenses from the sole proprietorship. Self-employed individuals will need to submit payroll tax filings reported to the Internal Revenue Service.
Will the PPP loan be forgiven? A borrower is eligible for loan forgiveness equal to the amount the borrower spent on the following items during the 8-week period beginning on the date of the origination of the loan: Payroll costs (using the same definition of payroll costs used to determine loan eligibility), Interest on the mortgage obligation incurred in the ordinary course of business, Rent on a leasing agreement, Payments on utilities (electricity, gas, water, transportation, telephone, or internet) For borrowers with tipped employees, additional wages paid to those employees. The loan forgiveness cannot exceed the principal. Also, because this program is intended to replace “Payroll,” only 25% of the forgiven amount may be business expenses not related to Payroll Costs.
How could the forgiveness be reduced? The amount of loan forgiveness calculated above is reduced if there is a reduction in the number of employees or a reduction of greater than 25% in “Payroll Costs” paid during the 8-week period after you receive the loan.
What can I use the PPP funds for? Payroll Costs, business related rent and lease payments, business related utilities, Interest on any other business-related debt obligations that were incurred before the covered period.
Can I use the PPP funds to pay myself? Yes. For Sole Proprietors, Independent Contractors, and Self-Employed Individuals you can use the loan to pay yourself your typical draw or salary.
Can I use the PPP funds to pay my studio rent? Yes. The funds are available to pay yourself AND pay your rent. That’s why the amount is 2.5 times your pay. Part to you, part to overhead like rent.
When can I apply? Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020.
Is this a loan or a grant? This is a loan. The loan could be be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities. Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees. This loan has a maturity of 2 years and an interest rate of 1%.
Who makes this loan? This loan is available through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. We suggest that if you have a bank you normally work with, then you apply with your local bank. If you do not have a bank, then you can apply through a company that will match you up with a bank such as Boefly.
Will I automatically get the loan? No. There will be an approval process, which will be based on your credit score and ability to repay the loan. How will anyone know how I used the money? The rules on this have not been written yet. You should anticipate that at some point in the future the SBA will ask you to show them how you used the money.
Can I still get the PPP loan if I am receiving unemployment benefits? This is a tricky question. While you should not be prohibited from getting PPP if you are also getting unemployment payments, this may negatively impact your ability to get loan forgiveness under the PPP because this forgiveness depends on your continuing your payroll during the crisis. If you are not paying yourself and, instead, are collecting unemployment, then you cannot claim those payments toward your forgiveness amount.
Will this loan hurt my credit? Any loan that you take will impact your credit and especially so if you do not pay the loan back. On the other side, this loan has generous repayment terms, a relatively low interest rate and repayment may be deferred for a year.
Do I apply as a sole proprietor or a business? If you have an EIN number (Employer Identification Number), you will use that number to apply as a small business. An EIN number is a nine-digit number assigned by the IRS. You would have received this number if you created a separate business entity for your studio. If you do not have an EIN number, you will apply as a sole proprietor and use your social security number.
If my credit isn’t good, should I still apply? Yes. The SBA has said that they will be flexible with these loans. Additionally, there are no fees to apply, so there’s no harm in applying.
Welcome to IMAGE, Lizzie! We’re excited to announce a new leader addition to our support team – Lizzie Webb, Marketing Manager at IMAGE Studios 360®. Lizzie leads our marketing and design team, managing company campaigns, advertising, press releases, email marketing, and event logistics.
Lizzie has 10+ years experience in marketing and communications working in the political world in the UK. She has worked with several Prime Ministers to build successful campaigns, combining traditional and cutting edge marketing techniques. At the forefront of winning elections, Lizzie has impressive drive and naturally connects with people. Lizzie brings IMAGE Studios 360® successful marketing strategies and data analytics, along with a versatile writing style from her expertise in traditional, print, and digital media.
Across the country, our IMAGE Owners are preparing to travel to Salt Lake City for our annual Retreat and Symposium to receive in-depth training and education to empower them as owners and operators across the country. Over the packed weekend, franchisees will join our corporate team to explore our vision for 2020 while enjoying all that Salt Lake City has to offer – fantastic food, delicious drinks, and world class skiing.
“2019 was just a great year for the brand, expanding us into many new states and markets nationwide,” said founder and CEO, Jason Olsen. “We have also expanded our corporate team and are prepared for all our new franchisees we’re onboarding in 2020.”
This will be the largest retreat IMAGE Studios has held, looking to educate and support IMAGE Owners, whilst providing workshops on marketing techniques and business strategies.
Vice President, Shaun Olsen added, “We’re excited to bring our IMAGE Owners together and celebrate the great accomplishments of 2019 and our vision for 2020!”
On May 19th, 2018 we hosted our Image Studios 360 Royal Palm Beach Salon Suites Grand Opening. The day was filled with amazing energy and support from our tenants, their family, and clientele. Our Royal Palm Beach Franchisee, Lenka Ginsburg, put together a fabulous event and celebration for the grand opening. Lenka raffled off salon services donated from the tenants.
Our beautiful salon studios are located in a central area of Royal Palm Beach that is ideal for both beauty professionals and their clientele. Nestled in Southern Palm Crossing shopping center, Royal Palm Beach is a great one stop shop for all your shopping and beauty needs.
For more information on how to lease a studio at Image Studio 360 Royal Palm Beach please contact Lenka Ginsburg at (754) 246-8886 and lenka.ginsburg@imagestudios360.com.
We also want to congratulate Lenka on being the fastest growing salon in 2018. We were so honored to have the Royal Palm Beach Mayor present at our Ribbon cutting ceremony as well.
Thank you to following vendors for supporting our grand opening:
-Sunny 107.9 Radio Station
-Musician John Tutino
-Royal Palm Beach Mayor Fred Pinto
-Balloon Artists
-And all of our AMAZING Royal Palm Beach Tenants!
Meet Mathew Landis – salon owner, entrepreneur, coach, interview by April Benincosa, Utah franchisee for Image Studios 360. April has four locations under her management in Utah, serving over 130 salon professionals. Image Studios 360 provides modern, luxurious salon studios at affordable rates. We believe in our core values of CREATIVITY FREEDOM & SUCCESS and our goal is to elevate the beauty industry to new heights with our education, support, and platform that enables people to easily open their own salon without the risk or investment it takes to open a traditional salon. We’re a beauty incubator that helps people reach new heights through salon ownership. Find out more at www.imagestudios360.com.ccess.
Image Studios 360 empowers people like you to take the leap into salon ownership – realize your dreams by joining the IMAGE team today!
Image Studios 360 was designed for industry professionals like you, making it possible to have your own salon and be your own boss. Our concept is simple: we provide an incredible space and atmosphere – you bring your passion, talent, and clientele. Together we create an intoxicating formula for success.
IMAGE Studios® empowers people like you to take the leap into salon ownership – realize your dreams by joining the IMAGE team today!
Let’s face it – we’ve all worked our asses off in this industry for many years, and now it’s time to enjoy the success you deserve by enjoying the freedom of owning your own salon. The traditional salon business model is a dying breed (and a difficult one to survive with), while the Image Studios 360 business model paves an affordable and safe way to open your own salon without all the risk. Isn’t it time?
