Great Clips Franchise is one of the best Salon franchises in the USA. We will discuss Great Clips Franchise Cost, Profit, and How to get the franchise.
Great Clips was launched in 1983 and in the same year, the first Great Clips came for sale. The brand currently has 4371+ outlets. You can enroll for Great Clips Franchise by filling up the form on their website.
Great Clips Franchise Cost
Great Clips Franchise Cost $136,000-$258,000 as an initial investment. The Franchise Fee is $20K. The minimum area required is 200 square feet. The Royalty charged will be 6% on Sales.
The bifurcation of the Franchise Price (Cost) is given below-
- No charges for Site Selection
- Grand opening and Marketing cost $6,000
- The brand will provide training
- Other Cost includes Insurance, Advertisement, Initial Inventory, Deposits, Equipment, Furniture, Fixtures, Supplies, Improvements/Signage, Small wares Licenses, and
Other Prepaid Expenses
- The brand will provide the Raw materials or the supplier connection
- All Payments Made are Non-Refundable
- Return on Investment is around 12-15 months to cover the cost
Great Clips Franchise Profit
We will analyze Great Clips Franchise Profit Margin with the help of an example. We will deduct all the expenses from the Gross Sales. We are assuming Sales of $1,80,000 per month.
We can conclude that the Net Profit Margin of the Great Clips Franchise is 25% on the Sales. The outlet may have less profits in the initial days but Tea has great demand in the market.
After good Local Marketing and Branding, the Sales will increase to $2,40,000 per month and the profit margin will be 35% on Sales.
Location is crucial in determining a franchise’s success rate along with food quality and service.
The location should have a very high footfall. It should be in the main market of that area. You can open the outlet nearby colleges, corporates, Highways, Malls or any place where people love to have Tea.
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