Sports Clips Franchise Startup Cost, Profit & Opportunities
The Sports Clips franchise promises an opportunity for hair-related investment with a recurring income.
Also, the services offered will always be in demand. Investors get the opportunity of their personal financial goals through the adoption and use of the Sports Clips growth model. The Sports Clips franchise was founded in 1993 and began franchising in 1995.
Since then, it has grown into a huge sports brand and is ranked #37 on Entrepreneur’s top 500 franchises.
The Sports Clips franchise caters to a specific demographic market made up of boys and men. It provides hair styling services in a sports-themed environment.
Who Sports Clips Is Looking For
The Sports Clips franchise has a defined set of attributes prospective franchisees must possess. These include having strong leadership, communication, and managerial skills.
Others include having a passion for the Sports Clips culture and being a team player (this is seen in your ability to develop team members).
Diversity is another attribute of the Sports Clips franchise.
In other words, this refers to zero restrictions as regards prior experience. You don’t need to have hair care experience to become its franchisor. However, you must love the business and be able to effectively market and drive sales.
Products & Services
The Sports Clips franchise isn’t restricted to a single service or product. It provides innovative hair cuts in a customer-friendly sports-themed environment with TVs constantly tuned to sports programming. It partners with major hair care product suppliers to use and sell such products to its clients for an added income.
Its innovative vacuum system ensures that stores are kept as clean as possible. What more? Its proprietary All-Start haircutting system and training are offered and available to all its franchisees.
Why Become A Sports Clips Franchisee?
The benefits of being a Sports Clips franchisee has been fully answered by the franchisor. According to it, this hair care franchise offers significant growth opportunities through its growth plan. Sports Clips has consistently created over 100 new locations each year for over a decade.
All of this has been achieved while maintaining its high standards for real estate as well as team leaders.
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Semi-Absentee Ownership
As a Sports Clips franchisee, you don’t need to be present at all times. This is because the franchise allows for managers to handle the daily operations of the business. Thus, allowing for greater freedom. The hair care industry is recession-proof.
This defined niche comes with easy-to-execute hairstyling with limited inventories required.
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Team Culture
Sports Clips has established a team culture where giving back to the community is part of its core values. This tradition is evident at all levels of its operations.
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Training
With no experience required from its franchisees, you are likely to wonder how hair cuts and other hair care services will be learned. Well, the simple answer is through training. Sports Clips offers best-in-class training to all its franchisees. This is in addition to comprehensive support services.
To ensure that franchisees are well covered, Sporty Clips allocates support personnel to cover 7 stores.
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International Presence
Sports Clips prides itself as the only hair care franchise with a presence in all 50 states and Canada. As its franchisee, you get to be part of a successful brand with international reach. This reflects positively on the brand as investors are assured of steady and robust growth.
Financial Requirements
Your ability to get in on the action will depend on qualification as its franchisee. Part of the qualification requirements includes having the needed start-up costs. These include a net-worth requirement of $400,000, liquid assets of a minimum $200,000, and a good credit rating of 680 and above.
Total investment for the first store opening will range from $224,800 to $373,300. A franchise fee of $59,500 applies for 3 licenses. Additional licenses will incur a cost of $12,500 for each. Sports Clips franchisees get access to financing that includes conventional and SBA loans.
Veterans are honored for their national service with a 20% discount off licensing fees.
Franchise Territory And How It Works
Under the initial agreement, you get to choose a preferred location to build your stores. A franchise development representative is assigned to help out with the development of your store within your territory. No franchisee is assigned the same territory.
As such, you won’t be facing any competition from another Sports Clips franchise.
Franchise Models
For more on franchise licenses, the Sports Clips franchise requires franchisees to own multi-units. In other words, the franchise candidate is expected to own at least three locations. That requires three licenses which costs $59,000 as stated earlier.
However, some exceptions may be given for franchisees seeking to buy a single unit or store. Under such circumstances, the franchisee may desire to develop in a market without sufficient opportunity to develop three units within a reasonable area.
Veterans who can show proof of honorable discharge are also allowed to open single stores.
Support
Support for franchisees is provided in several ways. Broad categories include ongoing and marketing support.
Ongoing support includes site selection, the use of Sports Clips proprietary software, field operations, access to its franchise intranet platform, online support and a grand opening ceremony.
Others include purchasing cooperatives, newsletters, a toll-free line, and meetings/conventions. Marketing support includes cooperative advertising, email marketing, website development, SEO and social media advertising.
Marketing support also includes the use of its ad templates as well as national and regional media advertising.
Getting Started
Having read through this article, the next logical step would be to apply. However, this decision will be based solely on your perception of the franchise (if it’s right for you or not).
To get started, you’ll need to fill the “request a conversation” form supplied on its site. Sports Clips gets back to you in no time with further details on how to proceed.
There you go! The information provided here is aimed at helping prospective franchisees with an overview of the Sports Clips franchise. This should be sufficient information to help determine whether to proceed or not.
