Business News

Published on March 21st, 2018 |

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Buckhead equity firm 10 Point Capital invests in Phenix Salon Suites

Newly formed Buckhead-based private equity firm 10 Point Capital has made a minority investment in Phenix Salon Suites of Colorado Springs, one of the fastest-growing salon suite franchises serving the beauty industry. Terms of the deal were not disclosed.

Phenix has more than 200 locations in 26 states and a thriving community of over 5,000 stylists. The capital infusion will fuel Phenix’s nationwide expansion as part of its aggressive plans to

Gina Rivera

grow to 1,000 locations over the next five years.

In the Atlanta metro area, Phenix Salon Suites are presently located in Alpharetta, Buford, Johns Creek, Kennesaw/Marietta, Suwanee and Snellville.

Phenix Salon Suites was first launched in 2007 by Gina Rivera — who appeared on CBS’ “Undercover Boss” in 2015 —to provide stylists all the benefits of salon ownership without the expense and hassles typical of the industry. It quickly became one of the fastest-growing salon suite companies in the beauty industry.

Under the Phenix Salon Suites model, franchisees transform approximately 5,000 square feet into 28-30 individual luxury suites. Each suite is equipped with everything needed to successfully run a salon business at a fraction of the cost of starting a business on their own.

Suites also are available to nail technicians, massage therapists, aestheticians, chiropractors, and other service professionals to create a one-stop shop for many spa-type services and treatments.

“Founder Gina Rivera is an icon in the beauty industry known not only for her flare for style, but also for her keen business acumen. Her Phenix Salon Suites make the old ‘booth/chair rental’ model obsolete and make salon ownership a viable option for salon professionals,” said Tom Wells, managing partner at 10 Point Capital, located at 3575 Piedmont Road NE Building 15, Suite 730.

Tom Wells

“Her revolutionary idea has sparked consider3575 Piedmont Road NE Building 15, Suite 730 able growth and we’re excited to join alongside her to further develop the Phenix brand and make this exciting concept available to even more salon professionals,” he added.

“The 10 Point Capital team brings not only capital, but also an established track record for transforming emerging brands into great franchised brands. We’re thrilled they see the enormous growth potential of Phenix Salon Suites,” said Rivera, who comes from a family of salon professionals with over 85 years of salon industry experience.

“Working closely with the 10 Point team, we can leverage their franchising knowledge and network to ignite franchise development, open more locations, and provide even more stylists the opportunity to own their own business.”

Phenix Salon Suites is the only salon suite franchise to be named to the Top 100 of Entrepreneur’s Top 500 Franchise List and the brand joined the elite Top 25 in 2017. For more information, please visit www.phenixsalonsuites.com

Founders of 10 Point Capital Scott Pressly and Tom Wells have decades of franchise experience and have developed a proven model to grow emerging franchise brands. Both Pressly and

Scott Pressly

Wells were part of the leadership team behind rapidly growing top-ranked fast casual restaurant concept Tropical Smoothie Cafe, which has grown to more than 640 locations nationwide since 2010 and signed 600 franchise agreements in four years. For more information on 10 Point Capital, visit www.10pointcapital.com.

–John Schaffner

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