SAN FRANCISCO, Sept. 19, 2019 /PRNewswire/ -- Madison Reed, a prestige hair color brand, today announced plans to franchise its Madison Reed Color Bars under a new joint venture with Franworth, a leading consulting firm focused on accelerating brand growth and value creation for franchisors and franchisees. Madison Reed is the first digitally native vertical brand (DNVB) to use the franchise business model as a growth strategy to meet customer demand for local brick-and-mortar retail.
From the customer's viewpoint, Madison Reed Color Bar franchises 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.
"We have been trailblazers in 'omnichannel retail,'" said Amy Errett, CEO and founder of Madison Reed. "We are excited to announce that the next channel in our growth strategy is franchising, which unlocks the ability to scale physical retail like no other.
"To us, being omnichannel means we have a relentless drive to meet the needs of our customers wherever they are," Errett said. "Our customers come first, and we want to support them regardless of whether they color at home or in a Color Bar. Our responsibility is to ensure that her experience is the same regardless if she is 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."
Madison Reed's Color Bar concept, introduced in 2017, differs from traditional salons in several foundational ways. Color Bars:
- Deliver salon-quality hair color that is both affordable and convenient for time-pressed women. For $55-$60 – a fraction of the cost of a salon visit – and only half the time, clients can get permanent color applied by a certified, licensed colorist. In another industry first, clients can book appointments online and for the same day.
- Give women superior results with an ammonia-free formula. Madison Reed's hair color formulation is free of the eight harsh ingredients typically used by other brands: ammonia, PPD, resorcinol, parabens, phthalates, gluten, SLS, and titanium dioxide.
- Utilize technology to provide a transparent and personalized omnichannel experience. At every appointment, colorists record the client's hair profile, hair goals and products used, enabling the customer to replicate her exact experience at home or at her next appointment. Gone is the typical salon secrecy surrounding how hair color results are achieved.
- Sell the hair color that is used during appointments. Salons do not make color available for purchase. But Color Bar customers can walk out of the store with the exact color formulation that was just used on their hair.
These differentiators, consumer demand and Franworth's specialization in building wellness and beauty franchises brought the two organizations together. Led by Founder and CEO John Rotche, CFE, and Managing Director and Partner David Barr, Franworth's extensive team of franchise experts will leverage their experience by partnering with Madison Reed as an emerging franchisor and helping them build the Madison Reed Color Bar franchise system.
"The Franworth team is honored to be partnering with Madison Reed to bring its Color Bars to communities across the United States," said Rotche. "Amy and her team have built an incredible brand that consumers love. We're thrilled to have the opportunity to work with her talented team to create and build the Color Bar franchise program and expand consumer availability of Madison Reed's renowned salon-quality hair color."
To learn more about owning a Madison Reed Color Bar franchise, visit madison-reed.franworth.com.
About Madison Reed
Madison Reed is a beauty company revolutionizing the way women color their hair. The fast-growing startup has created a luxurious hair-color formula free of the eight harsh ingredients typically used by other brands. For women who prefer to color their hair at home, Madison Reed uses proprietary color-matching technology and a team of professional, on-call colorists to help women choose the perfect shade of hair color, which is delivered to their door. For those who prefer to have Madison Reed color applied with the help of a professional, Madison Reed Color Bars are open in New York City, the San Francisco Bay Area, and Dallas-Fort Worth with more coming soon. Products can be found online at www.madison-reed.com and www.ulta.com, or in store at Ulta Beauty and Madison Reed Color Bars.
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Headquartered in Ann Arbor, Michigan, Franworth helps brands build a strong foundation, navigate their acceleration, and create economic value for both franchisors and their franchisees. Through its expansive suite of professional services and best-in-class processes, talent, technology and proprietary supply chain system, Franworth specializes in advising emerging franchisors and helping them scale their businesses efficiently to achieve profitability and maximize their potential for success. Franworth's current portfolio of franchise brands includes Title Boxing Club®, The Lash Lounge®, CITYROW®, LIVE WELL® and Madison Reed®. For more information on Franworth or to learn more about how it can help your company grow, visit franworth.com.
Fish Consulting on behalf of Franworth
SOURCE Madison Reed