GEORGETOWN, Texas // PRNewswire // -- Sport Clips, the nation's largest men and boys' hair-care provider, ranked in the top 100 overall and top 50 in growth for the sixth straight year in the Entrepreneur Magazine "Franchise 500." The ranking is determined by the company's financial strength and stability, growth rate and size of the system, according to the publication, as well as the number of years a company has been in business and the length of time it's been franchising. Startup costs, litigation, percentage of terminations, and whether the company provides financing are also considerations.
Sport Clips also ranked in the top 50 of the recent Dun & Bradstreet's (D&B) AllBusiness.com "2010 AllBusiness AllStars" with editors saying of the company, "...Sport Clips has fared well in the recession," and "Sport Clips founder Gordon Logan established his business with franchising in mind." This second annual ranking of the top 300 franchises was developed by AllBusiness.com editors based on franchise unit growth rate, financial strength, system size, years in business, years franchising, availability of financing, and Web (brand) visibility.
"To rank among the top 500 franchises 11 of the 14 years we've been franchising is an honor and a testament to those who work hard to make our system a success," said Founder and CEO Logan. "We have a rock-solid management team in place with 670 stores and another 35 scheduled to open in the first quarter of this year. And, even in a tough economy, our stores open one year or more showed solid same-store sales growth in 2009, another sign of a strong business model."
Sport Clips was established in 1995 by Logan. The franchise is a sponsor of NASCAR's Joe Logano and is the "Official Haircutter" of several teams in the National Basketball Association (NBA), Major League Baseball (MLB), and National Hockey League (NHL). Sport Clips is the "Official Haircutter" of the Veterans of Foreign Wars, is the largest contributor to the VFW's Operation Uplink free call days and offers preferential pricing to veterans.
SOURCE Sport Clips