Great Clips Franchise Opportunities
Great Clips is a hair salon franchise with over 4,100 locations across the United States and Canada. In 2013, Great Clips reported an annual revenue of $1.03 billion. Over 30,000 stylists are employed by Great Clips salons. The first Great Clips salon opened under the name Super Clips near the University of Minnesota campus on September 22, 1982. It is headquartered in Minneapolis, Minnesota.
How to open a Great Clips franchise?
- Ensure you have adequate capitalization.
In order to open a Great Clips hair salon franchise, you must have a net worth of more than $300,000. - Appreciate the investment required for a salon franchise.
You will need to consider building and real estate costs, the cost of equipment and signs, the costs of licenses and permits, the cost of uniforms, the cost of insurance, etc. - Evaluate your prior experience and strengths.
You should thoroughly evaluate your prior business experience before applying to become a Great Clips franchise owner. - Assess market availability.
You will want to look at the market availability for Great Clips franchises and see if there are available markets in your location of interest before proceeding with the franchising application. - Submit your application.
Your application will be reviewed by the Great Clips franchise team. You will be emailed a confirmation receipt upon reception of your online application, where we will additionally provide the contact details of the franchise owner. - Receive approval & opening your Great Clips franchise.
You will receive franchise approval once your financial and background checks are completed. Approval will only be given to candidates who meet all the requirements of franchise owners.
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Financial Requirements for Great Clips Franchise
How much does Great Clips franchise cost?
Great Clips has the franchise fee of up to $20,000, with total initial investment range of $136,900 to $259,400.
Initial investments: $136,900 - $259,400
Net Worth Requirement: $300,000
Liquid Cash Requirement: $50,000 - $150,000
Estimated Initial Investment
| Type Of Expenditure | Low | High |
|---|---|---|
| Franchisee Fee | $20,000 | $20,000 |
| Initial Ad Fund Contribution | $5,000 | $5,000 |
| Leasehold Improvements and Site Fees* | $73,800 | $154,400 |
| Additional Funds for 12 Months | $15,000 | $50,000 |
| Grand Opening Advertising | $20,000 | $25,000 |
| Training, Travel, and Living Expenses (per participant) | $1,500 | $2,500 |
| Insurance | $1,600 | $2,500 |
| TOTAL** | $136,900 | $259,400 |
* Includes the following: fixtures, labor, opening inventory supplies, rent and security deposits, lease review fee, lease liability fee, freight and sales tax on fixtures, signage and furnishings.
** The data above is not an offer for a franchise. Such an offer can only be made through Great Clips Franchise Disclosure Document (FDD).
Ongoing Fees
Initial Franchise Fee: $20,000
Ongoing Royalty Fee: 6%
Ad Royalty Fee: 5%
Are you interested in starting Great Clips Franchise in the USA, Canada or another country?
We provide estimated franchise costs for some countries:
- In the United States, the total investment to start the Great Clips hair salon is around $136,900 to $259,400.
- In Canadian currency, the investment comes around Can$ 173,060 to Can$ 326,460.
Support Options
On-The-Job Training: 8 hours
Classroom Training: 86 hours
Additional Training: At local training center
Absentee Ownership Allowed
Number of Employees Required to Run: 8 - 10
Great Clips Franchise Info: http://www.greatclipsfranchise.com/territories-and-investment
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Starting investments from:$136,900
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Company type:Salon
- Company foundation year1982
- Year of launching the franchise1983
- Franchise enterprises:4,261
- Corporate Address:4400 W. 78th St., #700 Minneapolis, MN 55435, USA