March 15, 2010 // Franchising.com // ATLANTA – Flip Flop Shops continues to expose itself – and its toes – as one of the top franchise companies in the industry today. The inspiring lifestyle retail concept recently ranked #17 in a comprehensive listing of the nations Top 50 Franchises with under 50 units by Franchise Business Review.
In receiving this recognition, Flip Flop Shops ranks among the top 50 of what was the largest survey of franchisee satisfaction ever completed. More than 300 leading franchise systems representing more than 65,000 franchisees were researched.
The FBR 50 Awards are an annual ranking of franchise companies based on franchisee satisfaction. The awards are based on the research results of Franchise Business Review, a market research firm that conducts thousands of independent surveys of franchisees each year. The awards recognize the Top 50 franchise companies with the highest levels of overall franchisee satisfaction, as well as Best in Category and Honorable Mention awards in 16 industry categories.
"We're totally stoked about this incredible recognition," said Darin Kraetsch, the CEO (size 10) of Flip Flop Shops, adding that the companies commitment and execution of doing the right things and the brands free your toes culture are keys to its franchise satisfaction. "We pride ourselves in trying master the lost art of listening to our franchisees. We look forward to continued success and working hard at becoming #1."
Founded in 2004, Flip Flop Shops is North America's first retail chain exclusive to the hottest brands and latest styles of flip flops and sandals from big names such as REEF, Sanuk, VANS, havaianas, Flojos, and O'Neill, among others. The company's mission is to provide the opportunity for anyone, in any climate, to "live…work …play with their toes exposed®" while wearing the freedom of flip flops on their feet.
"Franchisee satisfaction is the most critical factor for any prospective franchisee to consider before investing in any franchise opportunity," said Eric Stites, President of Franchise Business Review. "Even during challenging economic times, the very best franchise businesses maintain high franchisee satisfaction. Flip Flop Shops is in that elite group and represents one of the very best franchise opportunity investments in the marketplace today."
Looking to add to the company's list of satisfied franchise owners, Flip Flop Shops is seeking single- and multi-unit franchisees that exude the lifestyle tenets and casual nature that are affiliated with this liberating footwear style. The average cost to open a single shop can be between $167,300 and $272,500, with a franchise fee of $28,000.
With 14 shops currently operating and 40 more in development, the company plans to open 236 shops by 2013.
Founded in 2004, Flip Flop Shops is North America's first retail chain exclusive to the hottest brands and latest styles of flip flops and sandals from big names such as REEF, Sanuk, Flojos, VANS, Havaianas and O'NEILL. The company began franchising in January 2008. Flip Flop Shops is an Environmentally Responsible Retailer™ and encourages the nation to free their toes®. The executive team boasts more than 50 years of franchise experience building and growing some of the world's fastest-growing franchise concepts, category leaders and some of America's most well-known brands, including Cold Stone Creamery, Moe's Southwest Grill and Nike. With 14 shops currently operating and 40 more in development, the company plans to open 236 shops by 2013.