Great Clips recently ranked in Entrepreneur magazine’s Franchise 500®, the world’s first, best and most comprehensive franchise ranking. Placement in the Franchise 500® is a highly sought-after honor in the franchise industry, as evidenced by the fact that Entrepreneur received more than 1,000 applications this year, making it one of the company’s most competitive rankings ever.
Recognized as an invaluable resource for potential franchisees, the Franchise 500® ranks Great Clips as No. 7 for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
“This ranking speaks to the proven success of our Great Clips concept which is demonstrated by more than a decade of quarter-by-quarter growth in same-salon customer counts and sales,” said Great CEO Steve Hockett. “Being 100-percent franchised, we are grateful to our committed franchisees and their great stylists who serve more than two million customers per week in Great Clips salons across the U.S. and Canada.”
“This year’s Franchise 500 ranking features both up-and-comers who bring fresh ideas to an ever-changing industry, as well as savvy stalwarts that have thrived for decades. We are proud to highlight and celebrate them all,” says Jason Feifer, editor in chief of Entrepreneur. “Our results show that the industry is strong—and that the most enduring franchisors are those who learn to balance innovation with reliability. That’s how to attract new customers while keeping the old ones happy.”
The key factors that go into Entrepreneur’s evaluation include costs and fees, size and growth, support, brand strength, and financial strength and stability. All franchises are given a cumulative score based on more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.
Nearly 1,000 franchisees decided to join the largest hair salon franchise in the world. With more than 3,000 salons now open, our franchisees are enjoying their piece of the more than $55 billion dollar hair care industry.
|Net Worth (financial requirements vary depending on the needs of each market)||$300,000, $500,000, or $1,000,000|
|Liquid Assets||$50,000, $75,000, or $250,000|
|New franchisees must have their primary residence in the open geographic market where they intend to develop their Great Clips business.|
Investment: $136,900 – $259,400
- Website: www.greatclips.com