Flip Flop Shops Ranks on Inc.’s 500|5000 List for Fourth Consecutive Year
First Retail Chain Exclusive to Flip Flops is Recognized for Outstanding Growth; Named Eighth Fastest-Growing Franchise
September 05, 2013 // Franchising.com // ATLANTA – For the fourth year in a row, Inc. magazine has recognized Flip Flop Shops on its 500|5000 list as one of the fastest-growing private companies in the United States. With astonishing growth of more than 860 percent over the last three years, Flip Flop Shops has been ranked No. 525 on the overall list and No. 8 on the list identifying the top franchises in the country.
In addition to the high honor on the fastest-growing franchise list, Flip Flop Shops placed No. 32 on the list of top 100 retail companies and ranked in the top 20 Georgia-based companies.
“This achievement puts us in rarefied company with an elite group including organizations such as Microsoft, Timberland, Jamba Juice and Zappos.com,” said Brian Curin, the President and Co-Founder a.k.a. the Flip Flop Enthusiast (size 10) of Flip Flop Shops, which began franchising in 2008. “We have been working hard to expand Flip Flop Shops on a global scale – crossing oceans and moving into every U.S. state and Canadian province. To be ranked on the Inc. 500|5000 for four consecutive years and recognized as a fast-growing franchise is an honor and reflects our dedication to growing the brand.”
The seventh annual Inc. 500|5000 list represents a comprehensive look at the most important segment of the economy as it recognizes the entrepreneurs who have led their respective independent companies to see phenomenal growth over the last three years. In a stagnant economic environment, median growth rate of 2013 Inc. 500|5000 companies is an impressive 142 percent. The companies on this year’s list report having created over 520,000 jobs in the past three years, and aggregate revenue among the honorees reached $241 billion.
"Not all the companies in the Inc. 500|5000 are in glamorous industries, but in their fields they are as famous as household name companies simply by virtue of being great at what they do. They are the hidden champions of job growth and innovation, the real muscle of the American economy,” says Inc. Editor Eric Schurenberg.
Bursting onto the retail scene in 2004, Flip Flop Shops 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, SANÜK, OluKai, Cobian, Quiksilver, ROXY, and Cushe. Their mission: to provide the opportunity for anyone, in any climate, to “Live…Work …Play With Their Toes Exposed®” while embracing the freedom of flip flops on their feet.
“We wouldn’t have grown into the company we are today if it weren’t for our dedicated group of shop owners and employees supporting our brand at the ground level,” added Darin Kraetsch, the CEO and Co-Founder (size 10) of Flip Flop Shops. “Not only are they driving sales, but their success has helped attract an overwhelming amount of entrepreneurs who want to be a part of our lifestyle brand. With a consistent, steady flow of new shops in the development pipeline and big plans for international expansion in the works, we hope to lock in the top spot on the fastest-growing franchise list in 2014.”
Since the company began franchising in 2008, the growing brand has received more than 15,000 franchise applications and has generated over $4 million in franchise fees and more than $20 million annually in sales system-wide. Currently, there are more than 85 shops operating throughout the United States, Canada, Guam and the Caribbean and another 115-plus in the development pipeline, slated to open within the next two years. The company’s growth strategy calls for 236 shops to be developed in five countries by 2014.
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 http://www.inc.com/inc5000.
For more information about Flip Flop Shops visit the company’s Inc. 500|5000 profile or company site at http://www.flipflopshops.com/.
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, SANÜK, OluKai, Cobian, Quiksilver, ROXY, and Cushe. The Kennesaw, Ga.-based company began franchising in January 2008 and continues to be recognized by industry leaders as one of the fastest-growing franchises and retailers in the nation. Industry accolades include: the International Council of Shopping Centers’ prestigious “Hot Retailer Award” and ranking No. 525 in the 2013 Inc. 500|5000 list of fastest-growing private companies in the United States, as well as the eighth fastest-growing franchise.
Growing the brand to more than 85 shops in operation and 115-plus in the development pipeline, 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, Nike and OfficeZilla.com. The company is an Environmentally Responsible Retailer™ encouraging the nation to Free Their Toes®. Flip Flop Shops also promotes a healthy, stress-free lifestyle through its educational campaign, the Heart To Sole: Creating A Stress-Free America, designed to reduce stress levels throughout North America, improve heart health and support the American Heart Association in its My Heart. My Life. healthy living initiative. For more information on the franchise opportunity, visit http://flipflopshops.com/.
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit www.inc.com.
SOURCE Flip Flop Shops
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