When you look over the list, the MU50 puts us in good company and is quite revealing.

The MU50 is a joint ranking prepared by FRANdata-the franchise industry's source for objective information and analysis-and Multi-Unit Franchisee magazine published by the Franchise Update Media Group-the management resource for franchisors.

Great Clips is ranked eleventh for total number of multi-unit owners out of the 50 brands listed. We're also one of only two non-food concepts ranked eleventh or higher. You would expect mega-brands like Subway (#1), Dunkin' Donuts (#4), and Quiznos (#7) to rank high by virtue of their total size, but what's interesting is that Great Clips has a higher percentage of multi-unit owners than those well-known fast food eateries.

What it all tells me is that our franchise owners are experiencing the rewards of owning several salons, and more of them are reinvesting in our business than you might expect of franchisees in other familiar chains. This certainly is a measure of the health of our system and the strength of our brand.

In addition to increased revenue, our multi-unit salon owners benefit by economies of scale, marketing clout, and brand name recognition. Multiple Great Clips also make it more costly for competitors to enter the market.

Owning one Great Clips salon is a rewarding business opportunity. With several salons, which most of our franchisees own, it just gets better, and better, and better.