Who made the investment?
This is a terrific partnership.
Partner #1 is Cliff who is an experienced business owner and builder of opportunities who has lived in the South Hills of Pittsburgh for many years.
Partner #2 is Generational Transfer Entrepreneurs (GTE) a Pittsburgh based private equity firm that is organized as a search fund accelerator.
What did they invest in?
Cliff and GTE tag teamed this opportunity to acquire 16 existing hair salons in New York state from Regis Corporation. Along with the acquisition of the 16 operating salons, they have also acquired the rights to expand into additional locations in and around the geography of the recently acquired salons. The salons operate under both the Cost Cutters and Smart Style labels.
Why were they looking for a franchise?
Cliff has started multiple businesses from scratch in his career including outpatient physical therapy clinics and a medical staffing business. Cliff and his wife Kristen recently transitioned their youngest child out of the house and off to college which left them with an opportunity to tackle a new life challenge and freedom to do so in a new location.
Why did they choose this brand?
The opportunity to acquire the Cost Cutters and Smart Style salons provided Cliff with a baseline of income to work with and a platform upon which to expand the store base, revenue and profitability of the business.
How can you learn more?
Chris Cynkar has been a business owner for 20 years and is a nationally recognized franchise expert. You can learn more at www.chriscynkar.com. You can contact Chris directly at ccynkar@franchoice.com or 412-877-2000.
