Great Clips has recruited 83 new franchise owners so far in 2009. Based on the number of outstanding franchise agreements in process we expect to finish the year with 88 - 90 new franchisees. We couldn't be happier and more proud.
First, the quality of these new franchisees is amazing. Their professional backgrounds and education levels read like a "Who's Who" list. Their commitment to grow their organization, and work closely with their fellow franchisees is outstanding.
Second, we exceeded our new franchisee goal. These days that's quit an achievement for any franchise system. This is a testament to the strength of the system, the performance of our existing salons and the willing participation we receive from our franchisees during the prospect's due diligence process.
Typically, our franchise owners invest in Great Clips to transition out of corporate America. They keep their day jobs and open Great Clips' salons on the side-on average our franchisees own five salons. When the finances are right, they'll step from the middle and upper-level executive ranks to become CEOs of their own businesses.
It's providing that pathway to ownership and security that's so rewarding for us, and comforting to our owners. (It certainly settles their nerves and improves their outlook.) Even though they come to us from different directions, they share common traits: strong management, leadership, communications and people skills.
One thing they won't do is cut hair. They'll use their skills to manage and grow their businesses.
As we close 2009, we're counting our blessings. We continue to validate the recession-resistant results of our business model-we recorded our 20th consecutive quarter of same-store sales growth in October. And Dun & Bradstreet's AllBusiness.com ranked us as the #1 hair salon brand franchise for 2010.
When we appreciate what we've accomplished and foresee the many opportunities ahead, these are happy holidays.
Wishing you and yours Season's Greetings and a Happy New Year.
