Great Clips

Great Clips

Great Clips
#28

Initial Investment

LOW: $122,250
HIGH: $233,100

Change in Units

+4.7% +174 UNITS (1 Year)
+5.3% +195 UNITS (3 Years)

Company Profile

Founded

1982

Franchising Since

1983 (33 Years)

Corporate Address

4400 W. 78th St., #700 Minneapolis, MN 55435

CEO

Rhoda Olsen

About Great Clips

Established in 1982, Great Clips started franchising in 1983 and now has locations throughout the United States and Canada. Usually located in strip malls, Great Clips hair salons are open evenings and weekends and do not require appointments. No hair-care experience is required for franchisees, who operated 5 to 6 units after 5 years on average. Great Clips has national partnerships with brands like NASCAR, EA Sports, NFL.com and Old Navy.

Financials

Financial Requirements

Initial Investment

$122,250 - $233,100

Net-worth Requirement

$300,000

Liquid Cash Requirement

$50,000 - $150,000

Ongoing Fees

Initial Franchise Fee

$20,000

Ongoing Royalty Fee

6%

Ad Royalty Fee

5%

Financing Options

Great Clips has relationships with third-party sources which offer financing to cover the following: 
startup costs, equipment, inventory

Veteran Incentives


$5,000 off first-store franchise fee

Franchise 500® Rank History

Highest Rank: 19

Lowest Rank: 100

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new units internationally.

Operations & Franchisor Support

Training at headquarters: 5 days

Additional Training: At local training center

Ongoing Support
Purchasing Co-ops
Meetings
Toll-Free Line
Grand Opening
Internet
Security
Field Operations

Marketing Support
Co-op Advertising

Absentee Ownership Allowed

Number of employees required to run: 8 - 10

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Disclaimer

The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a research tool you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing money in a franchise.

Updated: August 21st, 2015

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