Franchise Times recently came out with their Top 200 list of the largest franchise companies. Once again, Great Clips is positioned very well:
- Great Clips is the highest ranked haircare franchise on the list.
- Great Clips is the only haircare franchise in the top 100.
- Great Clips unit growth was 6.5% and sales growth was 8.6%, more than double the growth rates of the next largest haircare franchise on the list.
- Great Clips is the only haircare franchise on the list with 100% franchised units.
Franchising continues to be a successful business model. According to the International Franchise Association, this year, new and existing franchise units will support almost 800,000 jobs and create over $100 billion for the American economy. And, lending to franchises has reached the highest level since the recession.
Why is franchising so hot? This article in Forbes even says it’s “sizzling”! The article credits the predictable roadmap that new franchisees get to follow, and that franchisors often assist their franchisees in finding real estate, securing financing, and buying supplies and equipment.
“All these things that franchises do you might struggle with on your own. It’s a business in a box.”
What’s attractive to you about the franchising model?