Core Insights - Buying a franchise offers access to a well-known brand and support from the franchisor, which can lead to customer influx and operational efficiencies [1][2] - Franchise ownership involves ongoing fees and costs, which can limit financial control compared to non-franchised businesses [3][6] Franchise Performance - Regis, the owner of Supercuts, has closed at least 100 locations annually since 2020, with 443 closures reported in 2025 alone [4][8] - The number of closed Supercuts salons increased significantly from 102 in 2020 to 273 in 2021, with 156 closures in 2022 and 196 in 2023 [7] Structural Changes - As of September 30, 2023, the total number of franchised Supercuts salons decreased to 2,060 from 2,264, indicating a net loss of locations [7] - Regis is undergoing a structural shift towards an asset-light franchising model, consolidating and slimming down its brands [7] Customer Retention Strategies - Despite closures, Regis launched a loyalty program in 2024 across 1,900 salons, aiming to stabilize and retain its customer base [8]