December 28, 2011 // Franchising.com // ATLANTA – Flip Flop Shops continues to ride up the rankings of Entrepreneur magazine’s Franchise 500® list, coming in at No. 297 in the publication’s 33rd annual ranking.
In its second-consecutive year on the list, the global retail chain exclusive to the hottest brands and latest styles of flip flops and sandals also ranked No. 14 in the “Top New” category—up 27 spots from 2011—and No. 94 in the “Fastest-Growing” category.
“We’re super stoked to be recognized as one of the fastest-growing franchise systems in the U.S.,” said Brian Curin, the President (Size 10) of Flip Flop Shops. “Ranking so high on such a prestigious industry list is a huge testament to our amazing group of franchisees and the success of our controlled global expansion. We look forward to the future growth of our brand and promise to continue our World-Wide Free Your Toes® Movement.”
One of the world’s most comprehensive franchise rankings, the Franchise 500 list is based on objective, quantifiable measures of success from financial and statistical data. Recognizing the best franchises of 2011, the list takes into account important factors such as financial strength and stability as well as the growth rate and size of the franchise system.
“Franchises are a great avenue to business ownership for those with the entrepreneurial spirit—and they’re playing a definitive role in driving the economy upward,” says Amy Cosper, VP and editor in chief of Entrepreneur. “Unit numbers from the Franchise 500 grew overall in 2010 and 2011, giving individuals a great place to begin investigating some of the brightest opportunities.”
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, Quiksilver, Roxy, OluKai, and Cobian, among others. Its mission: to provide the opportunity for anyone, in any climate, to Live…Work…Play With Their Toes Exposed® with the freedom of flip flops on their feet.
Since the niche retailer began franchising in 2008, it has received more than 9,000 franchise applications, generated nearly $3 million in franchise fees, and opened more than 50 shops throughout the United States, Canada, Guam and the Caribbean. With more than 70 shops already in the development pipeline, the brand is on-track to achieve its well-managed global expansion strategy, which calls for 236 locations to open in select markets by 2013.
“This ranking validates what we’ve created—a growing movement to provide the opportunity for anyone, in any climate, to Live…Work…Play With Their Toes Exposed with the freedom of flip flops on their feet,” added Darin Kraetsch, the CEO (Size 10) of Flip Flop Shops. “Flip Flops Shops is one of the fastest-growing lifestyle franchises in the world—filling an untapped niche in the retail landscape with a very original and sexy concept. We’re pumped to place even higher on such an epic list.”
To view Flip Flop Shops in the full ranking, visit http://www.entrepreneur.com/franchises/flipflopshops/333670-0.html. Results can also be seen in the January 2012 issue of Entrepreneur.
For more information on Flip Flop Shops, visit http://www.flipflopshops.com.
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, Quiksilver, Roxy, OluKai, and Cobian. 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. Recognized in the 2011 Inc. 500|5000 listing as the sixth fastest growing franchise and 12th fastest growing retailer in the nation, the brand currently boasts more than 50 shops in operation and 70-plus in the development pipeline. The company’s well-managed global expansion strategy calls for 236 locations to open in select markets by 2013. For more information on the franchise opportunity, visit http://franchise.flipflopshops.com/.
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