Strong Occupancy, Flexible Suites and an Expanded Team Are Helping the Beauty Franchise Scale
Image Studios’ growth strategy begins with the independent beauty professionals who occupy its suites.
Instead of building locations almost entirely around hairstylists, the franchise aims to maintain a broader mix of tenants. Roughly half of its rooms serve hair professionals, while the rest may be operated by providers specializing in skin care, nails, lashes, eyebrows, permanent makeup or cosmetic treatments.
This diversity makes each location more useful to customers and potentially more stable for franchise owners.
When several complementary services operate from the same property, customers can complete multiple appointments in one place. Tenants can also exchange referrals without giving up the freedom of running their own businesses.
Community Can Improve Tenant Retention
Salon suite operators depend on recurring rent from independent professionals. Filling the rooms is important, but creating an environment where successful tenants want to remain can be equally valuable.
A diverse professional community reduces the likelihood that every tenant is competing for the same customer. It also encourages collaboration among business owners who may otherwise work alone.
Approximately 1,500 women visit an average Image Studios location each month. Each person entering the studio may be exposed to services beyond the original reason for the visit.
A hair client might notice a lash artist, nail technician or skin-care provider located nearby. These discoveries can generate additional appointments and help tenants grow through internal referrals.
Revenue Performance Reflects Occupancy
The importance of tenant recruitment can be seen in the company’s unit-level performance.
Image Studios locations with occupancy of 90 percent or higher generated average unit volume of $531,385 last year. Locations operating below 70 percent occupancy averaged $327,883.
These figures show why opening the doors is only the beginning. Franchisees must market their suites, attract suitable professionals and develop a studio culture that supports long-term occupancy.
Fuller locations may also benefit from greater customer traffic and stronger word-of-mouth awareness. Over time, the combination of rental income and tenant retention can make revenue more predictable.
Business Resources for Independent Professionals
A beauty professional may be highly skilled at delivering services but still need assistance with appointments, payments, budgeting and customer management.
Image Studios created its own app to bring several of these responsibilities together. The platform includes scheduling, credit card processing, client history, expense tracking and income forecasting.
Entrepreneurship education is also available for tenants transitioning from employment to independent business ownership.
This support benefits both sides of the franchise model. Tenants receive tools to operate more professionally, while franchisees may gain stronger occupants who are better prepared to build sustainable businesses.
A Real Estate Shortage Leads to a New Strategy
Image Studios originally placed many of its locations in retail shopping centers. As vacancies declined to approximately 4.5 percent, finding affordable and properly sized storefronts became more difficult.
Rather than allowing the shortage to restrict expansion, the company began considering Class A office buildings.
Office vacancy is close to 30 percent nationally, leaving property owners with significant amounts of unused space. Salon suites can provide a practical alternative use for properties that may no longer attract conventional office tenants.
Suitable buildings can offer convenient parking, attractive common areas and established infrastructure. They may also give franchisees access to markets where shopping center space is unavailable or too expensive.
A South Florida Office Becomes a Beauty Destination
Lindsay and Tyler Cole used this strategy for their Image Studios location in Boca Raton.
The couple discovered the brand after selling another business. They were initially impressed by its modern design, but the accessibility of its corporate leadership helped convince them to join.
Their selected office property required significant changes. Five separate bays were demolished and rebuilt to accommodate private beauty suites.
Although the negotiations took time, the landlord completed substantial improvements and the resulting layout has worked well for the business.
The project illustrates how vacant offices can be repositioned for modern service businesses. It also gives Image Studios more development options as competition for retail space continues.
Investment Supports the Next Phase of Growth
MPK Equity Partners invested in Image Studios in 2024, after the company had already established a substantial development pipeline.
The investment did more than provide capital. It helped the franchise strengthen lender relationships, evaluate real estate opportunities and plan the corporate structure needed for a much larger network.
MPK and Image Studios worked together to identify areas where additional leadership was required. Anne Goldman joined as vice president of commercial real estate after previously working with Dave’s Hot Chicken. Blake Steinvorth was hired as controller.
These appointments add specialized knowledge in two areas that become increasingly important as a franchise system grows: property development and financial management.
CEO Jason Olsen has described the relationship as collaborative. MPK contributes experience and strategic advice while trusting the existing leadership team to operate the company.
The Road From 100 to 200 Studios
Image Studios launched in 2009 and required approximately 16 years to establish its first 100 U.S. locations. It has now reached about 140 studios and plans to hit 200 in 2027.
The company opened 34 locations in 2025 and expects approximately 40 openings this year. Additional projects are scheduled throughout 2027 and 2028.
Its faster growth is not based on franchise sales alone. Image Studios is expanding the team, introducing new technology, exploring alternative real estate and supporting the independent professionals responsible for creating activity inside each location.
That combination may be what allows its second 100 studios to open far faster than the first.
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