At a Glance
Products & Services: Hair salon
Number of Locations: 3,499
Total Investment: $109.15K - 208.3K
Began Franchising: 1983
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.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $20,000
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 10 years, renewable
Net Worth: $300,000
Liquid Cash Available: $50,000 - $150,000
OperationsNumber of employees needed to run franchised unit: 8 - 10. Absentee ownership of franchise is allowed. (95% of current franchisees are owner/operators).
|Financing Type||In-House||Third Party|