V's Barbershop Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$265,000 - $630,900
Franchise Fee
$30,000
Total US Locations
60
Business Summary
V's Barbershop operates upscale barbershops that provide high-quality haircuts, old-fashioned shaves, and men's facial services. The business aims to offer these services in a uniquely masculine environment under the V's Barbershop service marks and trademarks, catering to patrons of all ages by combining traditional barbershop elements with modern professional services and amenities.
Corporate History
V's Barbershop's business operations began in November 1999 through V's Ventures, Inc., an affiliate that operated V's Barbershops. Franchising efforts were first initiated in September 2005 by V's Franchising Corporation, a predecessor company that sold two franchises. In February 2007, V's Barbershop Franchise, LLC, the current franchisor, was organized and acquired all assets from V's Franchising Corporation, officially beginning to offer V's Barbershop franchises in March 2007. The parent company, V's Barbershop Holdings, LLC, also operated V's Barbershops from January 2012 to December 2017.
Financial Overview
Investment Range
$265,000 - $630,900
Franchise Fee (Low)
$30,000
Franchise Fee (High)
$40,000
Royalty %
6%
Marketing %
3%
Equipment Costs (Low)
$183,300
Equipment Costs (High)
$458,400
Working Capital
$13,250
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
V's Barbershop Franchise, LLC appears to be in good financial health. The company's financial statements for the years ended December 31, 2024, 2023, and 2022 were audited by independent auditors, CliftonLarsonAllen LLP, who issued an unqualified opinion, indicating that the financial statements present fairly, in all material respects, the company's financial position and results of operations. The company reported positive net income of $108,021 in 2024 and $316,016 in 2023. As of December 31, 2024, V's Barbershop Franchise, LLC maintained a healthy cash balance of $881,796 and total current assets of $1,009,621 against current liabilities of $695,800, demonstrating strong liquidity and working capital.
Financing Details
V's Barbershop Franchise, LLC does not offer any direct or indirect financing to its franchisees. The franchisor also does not guarantee any of the franchisee's notes, leases, or other financial obligations.
Performance Metrics
Total US Locations
60
Franchised Units
60
Corporate Units
0
Avg Square Footage
1,250
Franchising Since
2005
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
V's Barbershop Franchise, LLC has no reportable litigation. Item 3 of the Franchise Disclosure Document explicitly states that no litigation is required to be disclosed.
Bankruptcy History
V's Barbershop Franchise, LLC has no reportable bankruptcy history. Item 4 of the Franchise Disclosure Document explicitly states that no bankruptcy is required to be disclosed for the franchisor or its key personnel.
Agreement Terms
Initial Term
10 years
Renewal Term
5 years
Renewal Conditions
To renew their V's Barbershop franchise agreement, franchisees must meet several conditions. These include having no outstanding breaches of their current agreement, providing timely written notification of their intent to renew (between 12 to 18 months before the term ends), and paying a renewal fee equal to one-quarter of the then-current initial franchise fee, up to a maximum of $40,000. Franchisees are also required to remodel and update their V's Barbershop location to meet the franchisor's current standards, sign a general release of the franchisor and its affiliates, attend any required training programs or refresher courses, and sign the then-current form of franchise agreement and related documents. The new agreement will be subject to current terms, including royalties and advertising payments.
Training & Support Program
Franchisor Assistance
V's Barbershop provides a range of assistance to its franchisees. Before a V's Barbershop opens, the franchisor assists with site selection and lease approval, and helps identify initial equipment and inventory. Franchisees receive an initial training program for up to two people, which includes both online and in-person components at the corporate office in Phoenix, Arizona, or other designated V's Barbershop locations. For a franchisee's first V's Barbershop, a management team member provides on-site opening assistance for a minimum of two days during the week before and/or after opening. The franchisor also offers telephone consultation, provides access to an operations manual (digital or printed), and may suggest or set pricing policies for products and services. After opening, V's Barbershop offers ongoing consultation, including periodic inspections, 'mystery shopping' programs, and access to sales data via the franchisee's point-of-sale system. The operations manual is regularly updated, and franchisees are required to attend annual meetings and conferences. The franchisor also manages an advertising fund, into which franchisees contribute, to cover promotional, marketing, and brand development expenses. Additionally, V's Barbershop provides guidance on computer systems, credit card processing, email communication, and social media management, with the franchisor maintaining certain access rights and control over technology platforms.
Initial Training Hours
52
Training Location
Corporate office and one or more V's Barbershops in the Phoenix, Arizona metropolitan area, and online/phone support.
Ongoing Support
After opening their V's Barbershop, franchisees receive ongoing support through various channels. This includes consultation via telephone and potentially on-site visits, with the franchisor conducting periodic investigations, test customer programs ('mystery shoppers'), and reviews of records to ensure compliance with standards. V's Barbershop continuously updates its Operation Manual, which franchisees are required to follow. The franchisor may also suggest or designate pricing policies for services and products. If a franchisee defaults on obligations, the franchisor may defer its own support or require additional training. Franchisees are mandated to attend annual and other meetings or conference calls. They must also maintain a required computer system and point-of-sale system, paying a monthly Technology Fee for services and potentially additional fees for IT support. The franchisor provides a designated email address for communication and has access to the franchisee's POS data and video feeds from in-store cameras. Additionally, V's Barbershop controls brand-specific social media accounts and may require franchisees to use designated suppliers for social media, public relations, and digital marketing services.
Franchise Requirements
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
retail
Owner Participation
supervisory
Territory Type
Limited
Territory Size Requirements
Each V's Barbershop franchise operates within an 'Applicable Radius,' which is defined as either a 5-mile radius or a radius determined by measuring a population of 50,000 around the subject location, whichever results in a smaller area. The specific population statistics used for this measurement are selected by V's Barbershop, and the size of the Applicable Radius may change due to shifts in population density. All distances are measured from the front door of the V's Barbershop using global positioning satellite systems or other designated measurement devices.
Staffing Notes
V's Barbershop franchisees are required to adequately staff their business to service customers in a timely manner, with the exact staffing levels determined by the franchisor. If a franchisee chooses not to personally supervise their V's Barbershop, they must ensure the business is directly supervised on-premises by a manager or team captain who meets the franchisor's qualifications and requirements as outlined in the manuals. This manager must devote their full-time efforts to the V's Barbershop. All personnel employed by the franchisee must wear uniforms or other clothing approved by the franchisor and supplied by a mandated vendor. The franchisor does not have the authority to hire or fire franchisee employees, placing sole responsibility for employment decisions on the franchisee, including establishing remuneration, complying with wage and hour requirements, and employee discipline.