Scout & Molly’s Boutique founder Lisa Kornstein
Scout & Molly’s, a chic clothing boutique listed on Franchise Solutions, was started by Lisa Kornstein who originally thought owning a fashionable retail shop was unattainable because of the amount of time and research it takes to start a business from scratch. Now, Scout & Molly’s is a dream come true for others who are excited about fashion and having a business to call their own.
Terrell Rhye of Charleston, SC decided to purchase Scout & Molly’s for his fiancée, Erica. “She grew up in Brooklyn, NY and loves fashion,” said Rhye. With 30 years in commercial real estate and a master franchisee of 120 Hwy 55 Shakes & Fries, Rhye is no stranger to franchising.
Rhye first inquired to Scout & Molly’s through the Franchise Solutions’ website on January 13, 2015 and was awarded the franchise on March 18, 2015. Rhye explains “I was impressed with Lisa’s biography. She went to grad school in South Carolina up the road and I was impressed with what she had done.”
Future Plans
“We plan on opening in six months,” adds Rhye. For their long term plans, “If all goes well, we’d like to open a total of 3-5 Scout & Molly’s, one every 6-9 months.”
The Scout & Molly’s opportunity offers two business models: owner-operator or semi-absentee owner. In Erica’s case, she plans on being an absentee owner. As a semi-absentee owner, you can keep your current job or status where as an owner-operator, you would manage the store yourself full time.
In addition to feeding one’s fashion fix, owning a Scout & Molly’s includes the following benefits:
- Few staff required
- Excellent hours of operation M-Sat 10-6 Sun 1-5
- Access to exclusive fashion lines
- Comprehensive marketing program
- Strong return on investment (ROI)
Investment
To open a Scout & Molly’s of your own requires a $50,000 franchise fee and additional costs to cover the initial set up, inventory, furniture, fixtures, equipment and technology, etc. The total estimate for a single unit is $208,300 – $244,750 and includes $25,000 working capital.
On-going fees include a 5-6% royalty fee and 1% towards advertising.
“The Scout & Molly’s team and training was very detailed and very supportive,” mentioned Rhye. Whn Franchise Solutions asked what he would say to others looking at purchasing a Scout & Molly’s, he replied, “Join our team.”
Combine your passion for fashion and entrepreneurship with this fun opportunity!
Franchise Solutions has helped thousands of franchisors to refine their recruitment marketing message, generate franchise sales inquiries and make quality sales connections like this one for Scout & Molly’s.
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