Great Clips Opens Boston for Franchise Sales; Projects More Than 200 New Salons with 10 Expected to Open in 2009

National Franchise Also Announces First Salon to Open in Salem by Year-End

MINNEAPOLIS, Minn., Oct. 22 // PRNewswire // -- Great Clips, Inc., the largest walk-in hair salon brand in North America, is rapidly expanding its footprint with today's announcement that Boston is now open for franchise sales. More than 200 salons are projected for the greater Boston area with at least 10 new salons expected to open by the end of 2009.

Great Clips plans to expand throughout the Boston area, including the counties of Suffolk, Norfolk, Middlesex and Essex. In addition, Great Clips plans to expand into western Massachusetts with approximately 20 salons planned for Springfield and Holyoke.

Later this year, Great Clips plans to open its first salon in New England in Salem, NH. The salon will be located in Rockingham Mall Plaza at 92 Cluff Crossing Road. Additional salon openings in Massachusetts are slated between now and the end of 2009 in several Boston-area suburbs. With more than 200 salons projected in the future, this will result in approximately 2,000 full-time and part-time jobs for hair care professionals in the greater Boston area.

Great Clips' Boston launch is part of an aggressive growth strategy, which includes expanding in existing markets while entering new cities throughout the U.S. and Canada. The company currently operates 2,700 salons in more than 130 North American markets. In total, Great Clips plans to open more than 300 salons globally in 2008 and 2009.

"As the Great Clips brand continues to develop throughout North America, we're now looking for business professionals in and around Boston seeking a moderate-risk, steady growth business with strong cash flow and a relatively low investment requirement. Most of our franchisees keep their professional job while building their Great Clips business on the side," said Rob Goggins, vice president of franchise development, Great Clips, Inc. "This business concept has proven to be recession resistant, simple and enjoys steady growth. After just five years, our average franchisee owns five to six salons. Entrepreneurs will be hard pressed to find a better business model that meets all of these criteria."

Great Clips offers franchisees a recession-resistant, cash-based business with no receivables and manager-run locations. According to Goggins, its 26-year positive track record is due in part to the extensive local support provided to franchisees, such as local corporate support staff and an area training center. No hair care experience is required for potential franchisees, who should possess strong people management skills, a personal net worth starting at $300,000 and liquid assets of at least $40,000, as well as a business management background.

"As we've already done in other regions of the country, we look forward to bringing affordable, quality haircuts in a comfortable, friendly salon to the greater Boston area and to being an integral part of the community," added Goggins.

In its 26 years, Great Clips has grown from four salons, the first sprouting up adjacent to the University of Minnesota campus, to more than 2,700 dotting the landscapes in the United States and Canada. In 2008, Entrepreneur magazine ranked Great Clips, Inc. No. 1 in the haircare category of its "Franchise 500" list and 19th overall among more than 3,000 franchise concepts.

About Great Clips

Great Clips, Inc., headquartered in Minneapolis, Minn., is North America's largest franchisor under one brand in the $55 billion-a-year hair care industry. Established in 1982, Great Clips perfected a system for delivering competitively priced, high quality haircuts to men, women and children in a walk-in atmosphere. The company began franchising in 1983, and today, 2,700 Great Clips salons operate in more than 130 markets across the U.S. and Canada. Great Clips salons are open evenings and weekends. For additional franchising information, please visit http://www.greatclipsfranchise.com/ or call 1-800-947-1143.

Contact: Kim Ryan Fish Consulting 770.932.0695 kryan@fish-consulting.com

SOURCE Great Clips, Inc.

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