Affordable and convenient prestige hair color brand Madison Reed has announced plans to franchise Madison Reed Color Bars under a new joint venture with Franworth, a franchise consulting firm focused on accelerating brand growth and value creation.
Madison Reed Color Bar franchises will mirror the nine current Color Bars operating in New York City, the San Francisco Bay Area and the Dallas-Fort Worth area, which offer time- and money-saving, high-quality ammonia-free color services to its customers. Under the agreement, Madison Reed will continue to own, grow and operate Color Bars in select cities. In partnership with Franworth, it will additionally develop best-in-class infrastructure to support future Color Bar franchisees. Franworth will also design and launch 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."
Franworth founder and CEO John Rotche said, “The Franworth team is honored to be partnering with Madison Reed to bring its Color Bars to communities across the United States. 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.”
“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," Errett added.
Madison Reed gained traction starting five years ago with its affordable, easy-to-use prestige at-home hair color kits. Madison Reed Color Bars followed in 2017.
The company expects to have roughly 100 company-owned stores and 500 franchises – either sold or up-and-running by 2024.