Great Clips is a fast growing hair salon franchise that first appeared in strip malls in 1983 and has grown to over 3000 salons in the United States and Canada. Great Clips promotes delivering a high-quality haircut through their unique system, seven days a week, without an appointment and for a reasonable price. Franchisees are not required to have hair care experience and in fact, many franchisees are not on site owners, instead hiring supervisors and managers who do have salon experience to run their franchises.
In 1982, Great Clips owners Steve Lemmon and David Rubenzer, along with current CEO Ray Barton saw the hair care industry changing and felt the time was right to establish a national brand offering quality, convenience and low prices. Today, franchising with Great Clips means that you have not only a great brand to put on your door, but franchise owners learn the entire way that Great Clips does business including products, services, training and store design.
Franchisees must have a net worth of $300,000 with at least $50,000 in liquid funds as detailed on the Great Clips Franchise home page. Initial investment varies from approximately $130,000 to $250,000 which includes the $20,000 initial franchise fee. Ongoing royalty fee is 6% and ad royalty fee is 5%. Veterans receive a one-time incentive of a $5,000 rebate on their first store franchise fee.
Great Clips is the largest and fastest growing salon brand. In 2014, the company marked 10 consecutive years of same-salon sales growth and 30 years of franchising experience. Listed as number 28 in Entrepreneur’s Franchise 500, investing in this brand is a solid choice for an aspiring franchisee.
To find out more about how IRH Capital can help with your Great Clips financing for you to start your salon, contact us to learn about available options.