Great Clips® Ranked a Top Franchise in Entrepreneur Magazine’s Franchise 500®
MINNEAPOLIS - (BUSINESS WIRE) - January 15, 2019 - Today, Great Clips, Inc., the world’s largest salon brand, was ranked in the top 10 of Entrepreneur magazine’s Franchise 500® list for the second consecutive year. This year’s number eight ranking well positions Great Clips on the annual list and is driven by company’s outstanding performance in areas including unit growth, financial strength and stability, and brand power.
Entrepreneur magazine’s Franchise 500® is recognized as the world’s first, best and most comprehensive franchise list. 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.
“We need to thank our 1,200 dedicated franchisees and the 40,000 stylists for contributing to our systemwide success in 2018 and our top-10 recognition in Entrepreneur’s Franchise 500®,” said Steve Hockett, CEO at Great Clips Inc. “We are committed to driving even more around our core haircut business innovations in 2019, while also continuing to demonstrate to our customers and franchisee prospects what makes the Great Clips brand and experience truly great.”
The key factors that go into the evaluation include costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.
“As we celebrate 40 years of producing the Franchise 500, it’s a good opportunity to step back and look at how much has changed since that first ranking in 1980,” says Jason Feifer, editor in chief of Entrepreneur. “While the franchise business model has changed little, the strongest franchise brands are constantly evolving and innovating to keep up with changing trends and technology.”
Over its 40 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Great Clips’ number eight position on the ranking is a testament to its strength as a franchise opportunity.
To view Great Clips in the full Franchise 500® ranking, visit www.entrepreneur.com/franchise500. Results can also be seen in the January/February 2019 issue of Entrepreneur, available on newsstands January 15th.
About Great Clips, Inc.
Great Clips, Inc. was established in 1982 in Minneapolis. Today, Great Clips® has more than 4,300 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. Getting a great haircut at Great Clips is more convenient than ever with Online Check-In and Clip Notes®. To check-in online, visit GreatClips.com or download the free 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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SOURCE Great Clips, Inc.