Sport Clips Placed 16th in Entrepreneur's "Franchise 500"
In 2015, Sport Clips rose from 38th place in Entrepreneur’s “Franchise 500” list to hit 36th place. While that ranking is certainly respectable, this year, we shocked everyone by ranking 20 spaces higher up in the 2016 listing. That’s right, from 2015 to 2016, Sport Clips went from 36th to 16th on a list of 500 successful franchises. It’s an impressive accomplishment to be sure, but just how impressive?
Entrepreneur Ranking System
Entrepreneur puts together the world’s most comprehensive franchise ranking. Companies meeting certain requirements fill out a submission form and then are judged on specific criteria. The ranking takes into account only objective measures of a franchise, not subjective aspects such as satisfaction or management variables.
Notable factors the franchises are measured by include the following:
- Financial Strength & Stability
- Growth Rate of Company
- System Size of Business
- Number of Years Established
- Number of Years Franchising
- Company-provided Financing
- Percentage of Terminations
- Startup Costs
Such a comprehensive list puts Sport Clips far ahead of other big-name hair cutting franchises such as Great Clips (28th) and Fantastic Sam’s Hair Salons (65th).
Of the ranking, Founder and CEO Gordon Logan commented, “We continue Sport Clips' aggressive growth while sticking to a franchise system that works. It's gratifying to see the business that my wife Bettye and I started two decades ago become the business of choice for our franchisees, team members and clients. When such a well-respected ranking recognizes the success you see every day, it affirms that Sport Clips has become a dominant player in the hair care and franchise industry.”
The Sport Clips Trajectory
Sport Clips opened its 1,500th store just recently and looks to make 3 billion in haircut sales by the end of the year. As the only company with locations in all 50 states and Canada, Sport Clips predicts years of success ahead. What’s the secret? Besides providing a sports-themed environment and quality services catering to men in need of an affordably priced haircut, the haircut industry is nearly recession-proof. Whether or not the economy is doing particularly well has not affected Sport Clips growth. At the end of the day, haircuts are necessities and Sport Clips successfully meets the needs of many throughout the U.S. and Canada.
Join The Sports Clips Team!
Continually growing and expanding, Sport Clips is looking for franchisees to join the Canadian team. In 2012, business partners Peter Kowal and Mark Schiffner activated the Canadian expansion—with great success. Currently, three pack ($59,000 CDN), five pack ($84,500 CDN), and ten pack ($147,000 CDN) owner/investor opportunities are being offered in Canada.
Want to learn more? Give us a call at (888) 376-8060.