MINNEAPOLIS - January 11, 2018 - (BUSINESS WIRE) - Great Clips recently ranked in Entrepreneur magazine’s Franchise 500®, the world’s first, best and most comprehensive franchise ranking. Placement in the Franchise 500® is a highly sought-after honor in the franchise industry, as evidenced by the fact that Entrepreneur received more than 1,000 applications this year, making it one of the company’s most competitive rankings ever.
Recognized as an invaluable resource for potential franchisees, the Franchise 500® ranks Great Clips as No. 7 for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
“This ranking speaks to the proven success of our Great Clips concept which is demonstrated by more than a decade of quarter-by-quarter growth in same-salon customer counts and sales,” said Great Clips CEO Steve Hockett. “Being 100-percent franchised, we are grateful to our committed franchisees and their great stylists who serve more than two million customers per week in Great Clips salons across the U.S. and Canada.”
"This year’s Franchise 500® ranking features both up-and-comers who bring fresh ideas to an ever-changing industry, as well as savvy stalwarts that have thrived for decades. We are proud to highlight and celebrate them all,” says Jason Feifer, editor in chief of Entrepreneur. “Our results show that the industry is strong—and that the most enduring franchisors are those who learn to balance innovation with reliability. That’s how to attract new customers while keeping the old ones happy.”
The key factors that go into Entrepreneur’s evaluation include costs and fees, size and growth, support, brand strength, and financial strength and stability. All franchises are given a cumulative score based on more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.
Over its 39 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. The No. 7 ranking for Great Clips is a testament to its strength as a franchise opportunity.
To view Great Clips in the full ranking, visit www.entrepreneur.com/franchise500 or check out the January/February issue of Entrepreneur, available on newsstands January 16.
Great Clips, Inc. was established in 1982 in Minneapolis. Today, Great Clips has more than 4,200 salons throughout the United States and Canada, making it the world’s largest salon brand. Great Clips is 100-percent franchised, and salons are owned locally by more than 1,200 franchisees across North America. As a walk-in salon, Great Clips provides value-priced, high-quality haircare for men, women and children. No appointments are needed, and salons are open nights and weekends. Getting a great haircut is more convenient than ever with Great Clips’ Online Check-In and Clip Notes®. To check-in online, visit GreatClips.com or download the app for Android and iPhone. For more information about Great Clips, Inc. or to find a location near you, visit GreatClips.com.
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