With New Chief Executive Officer Steve Hockett At Helm, Great Clips, Inc. Projects Seven Percent Growth In 2018
After Experiencing $1.4 Billion Systemwide Revenue In 2017
With 2018 Annual Percentage Growth Expected To More Than Double That Of 2017, Former Franchisee Steve Hockett Carries On Legacy Of Rhoda Olsen
March 02, 2018 // Franchising.com // MINNEAPOLIS, Minn. - Great Clips, Inc., the world’s largest salon brand, announces $1.4 billion in systemwide revenue in 2017, with projections of $1.5 billion in 2018. The 2.8 percent growth experienced in 2017 is forecasted to more than double to seven percent in 2018. This announcement comes as new Great Clips CEO Steve Hockett, a former Great Clips franchisee who has served at the corporate level for 25 years, formally stepped into this role as of January 1.
In 2017 alone, 1,200 franchisees employed nearly 40,000 Great Clips stylists who gave 106 million haircuts at Great Clips salons across the United States and Canada. Annually, the franchise opens more than 200 new salons across 189 markets. The Great Clips system has reported substantial growth in same-salon sales (13 years), as well as same-salon customers (12 years), illustrating the lasting power of the brand and its franchise system.
Hockett’s vision as CEO is to build on the successful strategies that Olsen implemented, further cementing Great Clips as a leader within the franchising industry while ensuring franchisees across the Great Clips network feel supported in their growth. Hockett succeeds Rhoda Olsen, who served as CEO from 2011 to 2017 and whose leadership propelled the company from 1,000 salons in 1998, to over 4,200 salons across the United States and Canada today. Olsen currently serves as Vice Chair of the Board for Great Clips, Inc.
“I am inspired by the tremendous company growth Rhoda achieved as CEO through her inspirational leadership and tremendous business knowledge,” said Hockett. “In my new role, I will work diligently with our corporate team to further enhance our franchise system through customer-centric technology, and collaborate with franchisees to help them continue to grow their business and increase customer count across the United States and Canada to achieve our system-wide goal of $1.5 billion in revenue.”
Hockett recognizes customer-centric technology innovations as a key success driver for the Great Clips brand. The Great Clips App, featuring Online Check-In, provides customers an opportunity to add their name to the wait list prior to arriving at their local salon, decreasing time spent waiting in the salon. In 2017, average weekly Online Check-In usage accounted for 34.5 percent of customers. The total number of Great Clips mobile app downloads since its 2011 launch is well over 7 million, with 1.6 million of those downloads happening in 2017 alone.
Clip Notes® is another customer-centric technology that’s proprietary to Great Clips. Introduced in 2014, Clip Notes is the first database in the haircare industry to store details of a customer’s haircut in a secure global cloud network, making it possible for stylists at all Great Clips salons to retrieve the information within a few seconds and give customers the quality haircut they expect, regardless of which Great Clips salon they visit.
New in 2018, Great Clips marketing initiatives will take a deeper dive into digital platforms, leveraging new strategic relationships to reach existing and prospective consumers in new ways. Great Clips also continues to drive technology advancements that enhance the customer experience and innovate around the company’s core: great haircuts.
Earlier this year, Entrepreneur Magazine ranked Great Clips seventh in its annual Franchise 500, the world’s first, best and most comprehensive franchise ranking.
For more information about Great Clips, Inc., visit www.greatclips.com and follow Great Clips on social media: Twitter, Facebook, and Instagram.
About Great Clips, Inc.
Great Clips, Inc. was established in 1982 in Minneapolis. Today, Great Clips has 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. Great Clips franchisees employ nearly 40,000 stylists who receive ongoing training to learn the Great Clips customer care system and advanced technical skills. 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 http://www.greatclips.com.
SOURCE Great Clips, Inc.