GAITHERSBURG, Md.--(BUSINESS WIRE)--Symmetry Salon Studios announced that the company recently launched its Round C investment campaign ($2 million to $5 million) after successfully raising $750,000 in equity from eight legacy investors on June 1, 2019. Round C capital to be used to open additional Symmetry sites and expand on the brand’s early successes. Once Round C is funded, which is targeted for late 2019, Symmetry expects to generate a sufficient operating cash flow to self-fund its future growth.
Since 2013, Symmetry and affiliated entities have raised more than $5 million from a group of 20 legacy investors. That capital was used to create and expand the Symmetry Salon Studios® chain of beauty and wellness incubators. Symmetry’s legacy investors have typically participated in multiple offerings each. Round B investors to receive an 8% preferred return on their investment with a targeted Internal Rate of Return in excess of 20%.
Tom Ruder, founder and CEO, said, “I am thrilled to have a committed and supportive investor group that continues to fund Symmetry’s rapid growth. Symmetry houses more than 100 beauty and wellness professionals with waitlists for our next two locations and high interest from investors who are supportive of our ambitious expansion plans.”
Symmetry provides luxury turnkey salon and spa studios that are independently operated by beauty and wellness professionals. Each Symmetry location comes fully equipped with a modern and finished interior, high-end furnishings and amenities such as gourmet coffee. The Symmetry concept aims to provide talented beauty and wellness professionals with the resources to start their own business and increase their opportunities for success through marketing and educational support. Each salon is staffed by an experienced and trained reception team tasked to enhance the customer experience. Symmetry also provides business consultation and ongoing education geared toward building stronger businesses and communities.
The Symmetry Salon Studios Concept
Symmetry Salon Studios® is a network for beauty and wellness professionals. Symmetry provides a sense of community to more than 100 industry entrepreneurs throughout the Washington, D.C. area. The company was founded in Bethesda, Maryland in 2013 by Thomas Ruder and Jenifer Vincent. Visit symmetrysalonstudios.com to learn more, or engage Symmetry through its social channels -- @symmetrysalonstudios on Instagram and Facebook.
