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Flip Flop Shops

2014 Franchise 500
#229
At a Glance

Products & Services: Flip-flops and sandals

Number of Locations: 84

Total Investment: $174.3K - $279.5K

Founded: 2004

Began Franchising: 2007

About Flip Flop Shops

Sarah Towne and Todd Giatrelis were inspired to open the first Flip Flop Shops store in Boston after Towne struggled to find a pair of comfortable shoes while attending a convention in Las Vegas and wondered why there wasn't store that sold only flip flops. After opening a number of company-owned stores, they teamed with Brian Curin, Darin Kraetsch and Alan Woods, veterans of the franchise industry who had previously worked with brands like Cold Stone Creamery and Moe's Southwest Grill. Franchising began in 2007.

Franchise Units

Year U.S. Canadian International Company Owned
2013 74 8 2 0
2012 54 5 1 0
2011 39 4 1 1
2010 20 2 0 1
Where Seeking Franchisees: Franchisor is seeking new franchise units in the U.S.,Australia/New Zealand, Canada, Eastern Europe, Middle East, Western Europe.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $174,300 - $279,500
Franchise Fee: $35,000
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 10 years, renewable
Veteran Incentives: $2,000 off franchise fee
Financial Requirements
Liquid Cash Available: $100,000
Operations
50% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 3. Absentee ownership of franchise is allowed. (50% of current franchisees are owner/operators).
Direct Capital
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: At franchisee's location: 3 days. At Irvine, CA, training store : 1 week.
Ongoing Support: Newsletter, Meetings, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives, Lease Negotiation
Marketing Support: Ad slicks, National media,

Franchise Ranking History

Franchise 500®: #229 (2014), #230 (2013), #297 (2012), #415 (2011),
Fastest-Growing: #94 (2012),
Top New: #14 (2012), #41 (2011),
America's Top Global: #174 (2013),

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