This is the sixth consecutive year Great Clips has held the #1 position in Entrepreneur’s Franchise 500® haircare category.
Six years in a row! That’s how long Great Clips has been named the top haircare franchise brand by Entrepreneur magazine’s Franchise 500. This year, Great Clips was noted for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
In the overall ranking that includes most franchise brands in all categories, Great Clips ranked #24. The next closest haircare category competitor in the ranking was Sport Clips at #30. Supercuts was ranked #432, and Fantastic Sams was not included.
What does this mean to anyone thinking about investing in a walk-in hair salon franchise? It means the franchisee is partnering with a consistent leader that’s been around for 40 years. (Number of years in business is one of the pillars Entrepreneur uses to evaluate franchised businesses.) Those years mean something: Great Clips is a brand with staying power.
In a press release, Great Clips CEO Steve Hockett gave credit where credit is due: to the incredibly dedicated franchisees and the talented team at the home office whose sole job is to support them.
“Great Clips franchisees continue to work through numerous challenges as small business owners, employers, and community leaders. Being recognized as top in category is a testament to their hard work and to the dedication of everyone throughout the Great Clips system to build and maintain.”
So how does Entrepreneur come up with its comprehensive list of franchise rankings? Here are some key factors that go into their evaluation based on what they call the Five Pillars of the Franchise 500.
• Costs & fees: franchise fee, total investment, and royalty fees (Great Clips info here)
• Support: training times, marketing and operational support, franchisor infrastructure, financing availability, and litigation (Great Clips info here and here and here)
• Size & growth: open and operating units, growth rate, and closures (available during the franchisee application process)
• Brand strength: social media, system size, years in business, and years franchising (Great Clips info here and here)
• Financial strength & stability: franchisor’s audited financial statements (available during the franchisee application process)
Read more about the rankings here and about the #1 franchise in the haircare category here.
Want to know how you can be part of a No. 1-ranked franchise team? Give me a call today. I’d love to talk with you.
Beth Nilssen
Director of Franchise Development | Great Clips, Inc.
800-947-1143 | [email protected]