Propelled Brands, the multi-brand platform company of FASTSIGNS®, SIGNWAVE®, NerdsToGo® and MY SALON Suite, announced today that it ended the first half of 2023 with more than 40 new deals signed across its combined network, encompassing more than double the amount of deals signed in 2022 for NerdsToGo and putting both FASTSIGNS and MY SALON Suite on track to respectively surpass their 2022 total deals signed.
Mark Jameson, the chief development officer at Propelled Brands, stated that Propelled Brands had a highly successful year in 2022. So far in 2023, they are on track to surpass previous records. Jameson emphasized that their remarkable growth is a testament to the strength of their brand portfolio. They offer proven concepts and various business models, including semi-absentee ownership and conversions. Jameson eagerly anticipates the continued growth of FASTSIGNS, NerdsToGo, and MY SALON Suite for the remainder of the year.
Highlights of the first two quarters of 2023 include the following from across the three brands:
- 42 new franchisee signings, including 25 for MY SALON Suite alone and FASTSIGNS on track for 20+ signings;
- 36 new store openings;
- Continued growth for NerdsToGo with a B2B focus and recurring revenue model;
- Continued growth for My Salon Suite for both corporate and franchise locations;
- Awards and recognition received including Entrepreneur’s Franchise 500 and Franchise Business Review’s Best-In-Category, Top Franchises for Women and Top Recession-Proof Franchises lists.
Last year, FASTSIGNS experienced its most successful year to date, surpassing the $700 million in network sales for the first time in company history and awarded 20 franchises to expand into markets across the country. MY SALON Suite, known for its semi-absentee model with no on-site employees ideal for portfolio diversification from industries such as food or real estate, opened 42 franchise locations in 2022 to reach a milestone of over 250 locations. NerdsToGo continued to establish itself as a leader in its industry with expansion to multiple new markets in 2022 including Greenbook, NJ; Everett, WA; Lafayette, LA and its soon to open first location in Chicago, IL.
Building on its growing momentum, Propelled Brands has its sights set on awarding at least 20 more franchise agreements across its roster by the end of this year.