Great Clips
Hair salons- 2022 Franchise 500 Rank
-
#23 Ranked #13 last year
- Initial investment
-
$178K - $377K
- Units as of 2022
-
4,447 1.7% over 3 years
Company Overview
About Great Clips
- Industry
- Personal-Care Businesses
- Related Categories
- Hair Care, Salon & Spa Services
- Founded
- 1982
- Parent Company
- Great Clips Inc.
- Leadership
- Steve Hockett, CEO
More from Great Clips
About
Haircare is a $70Billion dollar industry, and still growing. Great Clips is in the convenient, no appointment haircutting segment of the industry, and is the largest and fastest growing haircutting brand in the world. It is a simple, recession resistant business model- we do not offer color, waxing, tanning, or nail services because we want to keep the business simple and focus on the service that we do best- cutting hair. And, no matter what the economy looks like, people still need their hair cut, usually every 4-6 weeks.
Franchise Opportunities
Great Clips was founded in 1982, and has been franchising since 1983. With over 4200 locations in the US & Canada, we are still accepting new franchisees in over 75 markets in North America. Our salons are manager-run, so it is possible for franchisees who have a flexible full time job to keep that position and do the business on the side, knowing it’s kind of like a second full time job to start a new business! Great Clips franchisees are always involved and engaged in the success of their business- so whether it’s a husband/wife partnership or that flexible full time position, Great Clips franchisees are aware that they are the driver of their positive results. Haircare experience is not necessary to become a franchisee- rather, solid business backgrounds and people management skills are the traits we see in our successful franchisees.
Benefits
Great Clips has a support network that is outstanding- from assistance during the site selection process, build out, hiring, grand opening marketing strategies, ongoing growth plans- all the way to helping franchisees who are ready to sell their salons- Great Clips is dedicated to the success of our franchisees. With 100% of our salons franchisee-owned, Great Clips’ success depends on the success of our franchisees. On average, after 5 years in business, our franchisees own between 5-6 salons. Plus, all franchisee's stylists and managers are trained in the Great Clips system by Great Clips corporate staff at our local training centers.
Testimonials
“Great Clips improves my ability to grow profitably. I also benefit from working with other franchisees and the hard working and knowledgeable Great Clips Corporate employees. The biggest benefit is the culture of Great Clips. Their actions consistently show that they really do care about you.” Keith C, owns 5 locations.
“Initially I anticipated opening just one or two stores, but the business grew to be so successful that it made sense for me to leave my existing job as vice president!” Jim H, owns 9 locations
Franchising Overview
- Franchising Since
- 1983 (39 years)
- # of employees at HQ
- 240
- Where seeking
-
This company is seeking new franchisees throughout the US.
This company is seeking new franchisees in the following international regions: Canada
- # of Units
- 4,447 (as of 2022)
Franchisor Information
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Great Clips franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $20,000
- Initial Investment
- $178,400 - $376,900
- Net Worth Requirement
- $300,000 - $1,000,000
- Cash Requirement
- $75,000 - $250,000
- Veteran Incentives
- $5,000 rebate on first-store franchise fee
- Royalty Fee
- 6%
- Ad Royalty Fee
- 5%
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Great Clips has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, inventory
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 13 hours
- Classroom Training
- 56 hours
- Additional Training
- At local training center
- Ongoing Support
-
NewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingMarketing Planning & SupportSocial MediaSEOEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
- Can this franchise be run from home/mobile unit?
- No
- Can this franchise be run part time?
- No
- # of employees required to run
- 8-10
- Are exclusive territories available?
- Yes
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Franchise 500 Ranking History
Compare where Great Clips landed on this year’s Franchise 500 Ranking versus previous years.
Additional Rankings
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