January 07, 2011 // Franchising.com // ATLANTA – Flip Flop Shops, the global retail chain exclusive to the hottest brands and latest styles of flip flops and sandals, is ranked 415 in Entrepreneur's 32nd Annual "Franchise 500." It's the brand's first appearance on the list, which is recognized as the world's most comprehensive franchise ranking.
"We have been on the fast track, spreading the Flip Flop Shops 'free your toes' lifestyle with an amazing group of franchisees," said Brian Curin (Size 10), the President of Flip Flop Shops. "We are stoked to be recognized as one of the fastest-growing franchise systems with a successful global strategic growth strategy and look forward to continued success."
The rankings for all 500 companies are determined using an exclusive formula that takes into account objective and quantifiable factors. An independent CPA analyzes all financial data. The most important factors include financial strength and stability, growth rate and size of the system. All franchises are given a cumulative score, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order.
"Franchises are not only a great avenue to business ownership for many with a thirsty entrepreneurial spirit, but they're also capable of playing a key role in carrying us into a growing economy," said Amy Cosper, VP and editor in chief of Entrepreneur. "The $153.7 billion in total payroll and 7.9 million jobs they account for speak to that loud and clear, and the ones that made this year's Franchise 500 are a great place for anyone to start their search for the right business."
Flip Flop Shops, North America's first retail chain exclusive to the hottest brands and latest styles of flip flops and sandals, has set itself apart among retailers with a unique consumer experience that goes beyond selecting from the hottest brands such as REEF, Sanuk, Flojos, VANS, havaianas, OluKai, Cobian and O'NEILL, among others. Even the smell and sound of each shop captures the Flip Flop Shops laid-back, yet adventurous personality. Approaching from 15 feet away, coconut suntan oil scent and active lifestyle inspired music begins to tickle the senses and excite the toes of likely customers.
"This ranking validates our unrivalled growth," added Darin Kraetsch, the CEO (size 10) of Flip Flop Shops. "With our steady flow of new shops in the development pipeline across the globe, we're pumped to keep the 'Free Your Toes' mentality going strong!"
With more than 30 shops currently operating and 50-plus in development, the brand's growth is part of a well-managed global expansion strategy calling for 236 locations to open in select markets by 2013.
To view Flip Flop Shops in the full ranking, visit www.entrepreneur.com/franchise500. Results can also be seen in the January issue of Entrepreneur.
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, 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 the World's most well-known brands, including Cold Stone Creamery, Moe's Southwest Grill and Nike. With more than 30 shops currently operating and 50-plus in development, the company plans to open 236 shops by 2013. For more franchise opportunity information, visit www.flipflopshops.com.