Flip Flop Shops Franchise Steps In at Top 30 Percent of Inc. 500 I 5000 List
First retail chain exclusive to flip flops recognized for epic growth amongst America's fastest-growing private companies
September 07, 2010 // Franchising.com // ATLANTA – Inc. magazine has ranked Flip Flop Shops in the top 30 percent of the publication's 500 | 5000 list of the fastest-growing private companies in the United States.
Ranked at No. 1469 on the list, North America's first retail chain exclusive to the hottest brands and latest styles of flip flops and sandals achieved the high rating based on its 196 percent three-year revenue growth rate.
"We're totally stoked about our placement on such a prestigious list," said Brian Curin, the President (Size 10) of Flip Flop Shops. "After only franchising for two years, ranking so high on the list is a huge honor! We look forward to inviting more consumers throughout North America to 'Expose Their Toes' and moving up the Inc. 5000 list for many years to come."
The 2010 Inc. 500 | 5000 is ranked according to percentage of revenue growth when comparing 2006 to 2009. To qualify, companies must have been founded and generating revenue by June 30, 2006. Additionally, they had to be based in the United States, privately held, for profit, and independent, not subsidiaries or divisions of other companies, as of December 31, 2009.
"The leaders of the companies on this year's Inc. 5000 have figured out how to grow their businesses during the longest recession since the Great Depression," said Inc. president Bob LaPointe. "The 2010 Inc. 5000 showcases a particularly hardy group of entrepreneurs."
Bursting onto the retail scene in 2004, Flip Flop Shops quickly became North America's first retail chain exclusive to the hottest brands and latest styles of flip flops and sandals from such leading brands as REEF, Sanuk, Flojos, VANS, havaianas, OluKai, Cobian and O'NEILL, among others. Their mission: 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.
"This ranking further validates the epic growth phase we're having at Flip Flop Shops," added Darin Kraetsch, the CEO (size 10) of Flip Flop Shops. "With more than 70 shops in our system and a steady flow of new shops in the development pipeline, we're pumped to keep the 'Free Your Toes' mentality going strong!"
Currently, there are more than 25 shops operating and the company's growth strategy calls for 236 shops to open in select markets by 2013. Today, Flip Flop Shops has locations operating in more than 10 states, Guam and Canada. The company will soon open additional shops throughout the United States, Canada and the Caribbean.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/5000.
About Flip Flop Shops
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, OluKai, Cobian, Rainbow and O'NEILL. The recipient of the International Council of Shopping Centers' prestigious "Hot Retailer Award," Flip Flop Shops 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 more than 25 shops currently operating and 50 more in development, the company plans to open 236 shops by 2013.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 712,647, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology.