One of the greatest honors in franchising is to be ranked among the best in Entrepreneur’s annual Franchise 500 rankings. This year Sport Clips did just that. By claiming one of the highly coveted Top 10 spots Sport Clips solidifies itself as one of the best franchise opportunities for those buyers considering a semi-absentee business model in 2017. The “Franchise 500” is one of the most widely referenced and comprehensive rankings of franchise opportunities in the world. To be at the top of this prestigious list has the team at Sport Clips rightfully excited.
Entrepreneur’s ranking process involves a rigorous set of deciding criteria. Each company is judged on performance in key areas including financial strength, brand strength, support, growth rate and start-up costs. Rankings also take into account the newest trends and industries that are poised for growth over the next 12 months. This year over 900 companies submitted information to be considered for the list. Sport Clips took a huge leap in the ratings to grab a top spot at #9 overall. This puts them among the elite: the top 1% of all considered franchises! This jump also marks a big milestone for the company as Sports Clips surpassed industry heavy hitters (such as Super Cuts and Great Clips) to claim the title of #1 in the haircutting franchise category.
Sport Clips’ commitment to franchisee satisfaction is one key to their strong performance. This commitment manifests itself in their 99.4% franchise continuity rate. (For further reading on the importance of continuity rates check out this article by Forbes.) Overall, Sport Clips franchisees rate their personal enjoyment 4.3 out of 5 in Franchise Business Review’s 2016 Satisfaction Report. This high level of satisfaction points to a business model that provides their franchisees with the ongoing support needed to be successful.
When asked what contributed to Sport Clips’ strong performance in the rankings this year, Pete Lindsey, vice president of franchising said, “In the past year, we were ranked as a Top 10 “Franchise to Buy” by Forbes, recognized for responsible growth by Franchise Times and recognized as Top 50 for franchisee satisfaction by Franchise Business Review. When you look at all this combined it is easy to see why Entrepreneur would rank us so highly.” Put all this together and you have happy franchisees, a solid investment opportunity and a track record of sustainable growth. Sounds like a winning combination. No wonder Entrepreneur took notice!
Interested in becoming a franchisee with one of the top franchises on Entrepreneur’s “Franchise 500” list? Learn more about owning your own Sport Clips franchise.