January 12, 2023 // Franchising.com // MINNEAPOLIS - Great Clips® has been ranked #24 overall and #1 in the Hair Care category in Entrepreneur magazine’s Franchise 500®. The Franchise 500® ranked Great Clips for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
“Great Clips franchisees continue to work through numerous challenges as small business owners, employers and community leaders,” said Steve Hockett, CEO of Great Clips, Inc. “Being recognized as top in category is a testament to their hard work, and to the dedication of everyone throughout the Great Clips system to build and maintain.”
In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s ranking formula continues to evolve as well. The editorial team researches and assesses several factors that go into the evaluation, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order.
SOURCE Great Clips, Inc.
Great Clips, Inc. was established in 1982 in Minneapolis. Great Clips is a walk-in salon brand.