Great Clips® Ranked #1 in Category for 7th Year in a Row in Entrepreneur's Franchise 500® List
MINNEAPOLIS (January 16, 2024) – Great Clips®, the world’s largest salon brand, has been ranked #35 overall and #1 in the Hair Care category in Entrepreneur magazine’s Franchise 500®, the world’s most comprehensive franchise ranking. For 45 years, the annual Entrepreneur Franchise 500® has been a highly sought-after honor in the franchise industry and recognized as an invaluable resource for potential franchisees. The 2024 Franchise 500® ranked Great Clips for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
“We appreciate Entrepreneur’s recognition of Great Clips’ continuous strength as a brand with the #1 in category ranking for the seventh year in a row,” said Steve Hockett, CEO of Great Clips, Inc. “We are even more appreciative of our 700+ franchisees across the U.S. and Canada for their hard work and dedication to building and maintaining the Great Clips brand over the last 42 years."
In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s ranking formula continues to evolve as well. The editorial team researches and assesses several factors, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is then given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranked order.
“Every brand on the Franchise 500 has its own unique story, but they all collectively make the same statement: Franchising is strong and resilient, is full of innovation and opportunity, and provides a powerful entrepreneurial path for many people,” says Jason Feifer, editor in chief of Entrepreneur magazine. “Our 45th annual ranking is full of companies with fresh ideas, exciting business models, cultural sway, and the kind of business sophistication that will define the next 45 years and beyond.”
Over its 45 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. A brand’s position on the ranking is a testament to its strength as a franchise opportunity.
To learn more about franchising opportunities with Great Clips, visit franchise.greatclips.com.
About Great Clips, Inc.
Great Clips, Inc. was established in 1982 in Minneapolis. Today, Great Clips has over 4,400 salons throughout the United States and Canada, making it the world’s largest salon brand. Great Clips is 100 percent franchised, and salons are owned locally by more than 700 franchisees across the U.S. and Canada. Great Clips® franchisees employ more than 28,000 stylists. Great Clips® franchised salons provide value-priced, high-quality haircare for men, women and children. Getting a great haircut at a Great Clips® salon is more convenient than ever with Online Check-In, ReadyNext® text alerts and Clip Notes®. To check in online, visit GreatClips.com or download the free app. For more information about Great Clips, Inc. or to find a location near you, visit GreatClips.com.