Sport Clips Haircuts Ranked by Forbes as a "Top Ten Best" Franchise to Buy
Nation's Largest Provider of Men's and Boys' Hair Care Scores High for Demand, Success and Franchisor Support
June 04, 2014 // Franchising.com // GEORGETOWN, Texas – Sport Clips Haircuts was ranked by Forbes this week as a "Top Ten Best Franchise" to buy for its investment category. An article detailing this "first-ever critical list of best and worst franchises in America" will be in the publication's June 16 issue. Research by FRANdata, looking at 3,000 franchise brands to determine the "best" and "worst" franchises to buy, primarily focused on:
- Demand for the brand, based on the systems’ growth rate between 2008 and 2012
- Success rated by the “continuity rate” between 2008 and 2012….what percentage of stores already open in 2008 plus those that were opened in the period, remained open in 2012
- Franchisor support
Additional consideration for the ranking was given to franchise transparency, whether a system is self-sufficient without new franchise sales, and average investment. To make it into the top 10, a brand had to meet additional criteria that focused on performance and how supportive the franchisor is with regard to being "lender friendly."
Sport Clips took the number two spot in the $150,001 – $500,000 investment range.
"We know Sport Clips is a leading franchise opportunity, and the data FRANdata used to support this ranking by such an impressive media entity as Forbes validates this for our existing franchisees and those who are considering a franchise investment," says Gordon Logan, founder and CEO of Sport Clips. "In 20 years, Sport Clips has grown to more than 1,200 stores across the country with very few closings. Our success rate is truly remarkable for a brand our size, and having only three closures since 2010 while opening over 400 new locations is a record of which we are very proud.
"The 'demand' measurement in the ranking is something we see firsthand, as Sport Clips is increasingly the brand of choice for hair care clients. Often our clients enjoy their experience so much they decide to join us as franchisees. Our same store sales continue to grow each year at a rate unmatched in our category, averaging approximately 9 percent per year for the past four years." Sport Clips opened 151 stores across the country and in Canada in 2013 and expects to open up to 200 stores in 2014, with special growth emphasis on the Northeast, mid-Atlantic states and the West Coast.
Forbes points out the impact of franchises on the U.S. economy with an estimated 770,000 franchise establishments employing 8.5 million Americans and creating $840 billion in output, according to HIS Global Insight in a report for the International Franchise Association, of which Sport Clips is a member. For more information about Sport Clips franchise opportunity, visit SportClipsFranchise.com.
About Sport Clips Haircuts
Sport Clips Haircuts is headquartered in Georgetown, Texas. It was established in 1993 and started franchising in 1995 by founder and CEO Gordon Logan. The sports-themed haircutting franchise, which specializes in haircuts for men and boys, is ranked by Entrepreneur Magazine as one of the top 20 "Fastest-Growing Franchises" and in the top 40 in the "Franchise 500." There are currently over 1,200 Sport Clips stores open in the U.S. and Canada. Sport Clips is the "Official Haircutter" of the Veterans of Foreign Wars (VFW), offers veterans preferential pricing on haircuts and franchises, and was named as one of the "Top Franchises for Veterans" by Franchise Business Review. Our "Help A Hero" program has raised more than $2 million to help deployed and hospitalized U.S. service members call home through the VFW's Operation Uplink™ and provide scholarships for veterans transitioning to a civilian career. Sport Clips is a proud sponsor of Joe Gibbs Racing's NASCAR drivers Denny Hamlin, Elliott Sadler, and Drew Herring, and partners with numerous NCAA and professional sports teams. To learn more about Sport Clips, visit sportclips.com.
SOURCE Sport Clips Haircuts