Great Clips Franchise Answers the Question, "How Much Can I Make?"

Great Clips Franchise Answers the Question, "How Much Can I Make?"

Leading hair-salon franchise reveals unit sales, expenses and profits in brand's Franchise Disclosure Document

June 02, 2009 // // Minneapolis, MN, – At Great Clips, Inc., realistic and supportable projections of sales, expenses and profits are readily available and detailed in the brand's Franchise Disclosure Document (FDD) under Item 19, the "Financial Performance Representation."

"'How much can I make?' If that's not the first question prospective franchisees ask, it's one of the most important," said Rob Goggins, vice president of franchise development for the 2,700-unit international salon chain. "We think every franchisor should include that information in their FDD, but only about 15-20% choose to."

The FTC does not require franchisors to present earnings claims in writing. They "can," but it's voluntary, at the franchisor's discretion.

"If you look at our competitors, they often leave the Item 19 blank, or they only provide minimal sales information that doesn't provide the prospective franchisee the opportunity to better understand the salon-level sales, cost and operating profit picture." says Goggins. "That's their prerogative, but I think the full Great Clips Item 19 financial information allows our prospects the deeper insight that they want when investigating our franchise opportunity. We believe in full disclosure."

"I'm always curious why franchisors are reluctant to share their sales and profit information. If I were a prospect, I'd be asking a lot of questions. Great Clips answers their questions—in writing"

About Great Clips:

Great Clips is North America's largest hair salon franchise brand with more than 2,700 salons conveniently located in high-visibility strip malls in nearly 140 markets. Great Clips employs nearly 30,000 stylists who are trained at 65 centers throughout the system. Great Clips consistently ranks among Entrepreneur magazine's Franchise 500Ò. Entrepreneur also ranks Great Clips one of their Fastest Growing and one of America's Top Global Franchises for 2009.



comments powered by Disqus

Franchise News Room »

News By Industry »

Featured Opportunities

Gloria Jean's Coffees
Gloria Jean's is known for its range of boldly flavored coffees and signature beverages. For nearly four decades, we have continued to innovate and...
LaRosa Grill
La Rosa started as a single restaurant in 1994 that has grown today, into a food chain for the most discriminating of taste, authenticity & value.
Quaker Steak & Lube®
Founded in 1974 in Sharon, PA, the award-winning casual dining restaurant chain has expanded over 55 locations throughout the United States and Canada
Blast & Brew
At Blast & Brew, we like to think “big.” That said, we’re vigorously seeking multi-unit investors to open at least three locations...
The Brass Tap
Think of our brand as your neighborhood craft beer bar – only not your typical bar experience. We have optimized each of The Brass Tap’s...
Share This Page

Subscribe to Franchising Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.