The Year of the Franchise
As millions of Americans reevaluated their career paths in the past few years and decided they want to control their own fate by running their own business, 2022 has truly become the year of the franchise, and for most, the best time to jump into the franchise industry.
Indeed, the COVID pandemic reversed a decades-long decline in the pace of entrepreneurship. According to a report in Vox, a record 5.4 million Americans applied for business IDs in 2021, with 2022 on track to surpass that number.
Even Forbes magazine reported that as many businesses struggled during the pandemic, franchises thrived. For so many Americans who wanted to run their own business, they chose the franchise model, which offers so many advantages, such as a proven operating strategy, strong backing support and brand awareness.
“After nearly two years of economic uncertainty, more and more people are following their entrepreneurial dreams and taking control of their destiny through business ownership,” Forbes wrote. “As a result, interest in franchising is reaching an unprecedented high, and 2022 is set to be a year of major franchise growth.”
Salon Franchise Industry is Booming
The hair care and beauty industry has seen this same remarkable growth in the past few years. In the U.S. alone, the hair and beauty industry generated $64 billion in revenue in 2018, with the 50 largest salons accounting for about 15% of sales.
According to a report Trafft, the market could hit $87 billion by 2023!
“The hair care and beauty industry is dynamic and continues to grow at a rapid pace,” Trafft reported. “Consumers are always looking for the latest trends and the best hair care products and services. Their needs are always changing. In order to meet these demands, the hair industry continues to develop and evolve.”
Why Invest In Sport Clips?
All over the country, our franchisees are reporting their customers are restless to get back in the barber chair and reconnect with the people who have cut their hair for years. That’s why we believe Sport Clips is truly poised for a banner year in business and growth in 2022 and beyond.
But don’t just take our word for it – Sport Clips is consistently one of the highest ranked hair franchises among franchise industry experts.
Entrepreneur magazine ranked Sport Clips as the No. 24 best franchise to invest in for 2022 on its esteemed “Franchise 500” ranking, beating out hundreds of other franchises across a swath of other markets and industries. Entrepreneur highlighted the brand’s low initial investment costs, training & support program, recent growth, and ability for franchisees to scale up.
Top Franchise, one of the premier trackers in the franchise industry, also recently listed Sport Clips as one of the top 10 best haircut franchise businesses opportunities out there.
“For entrepreneurs looking to build a business, Sport Clips franchise is an easy-to-understand business model that’s simple to execute while offering something every guy needs,” Top Franchise wrote in its rankings. “Enjoy greater freedom and reach your personal and financial goals, growing a business on your terms that will always be in demand and has recurring revenue.”
Last but certainly not least, NerdWallet, the go-to spot for so many Americans and their business needs, recently reported Sport Clips was among the top hair salon franchises for 2022, pointing out Sport Clips has grown from about 50 stores in 1998 to now more than 1,800 locations across the U.S.
Sport Clips is here to support our franchisees as they grow their businesses, and that starts from the ground up.
From day one, Sport Clips has an entire team dedicated to helping our franchisees secure the right location, implementing GIS technology, as well as demographic and psychographic data. We also have long-term relationships with landlords and developers, which has a tremendous advantage in helping secure a location.
We also make a team of coaches available for you to utilize to train your managers and stylists, and outfit you with a comprehensive marketing strategy to make sure you reach customers in your community.
At the end of the day, you’ll have all the tools and support you need to master all the Sport Clips business fundamentals, including how to hire and develop a team, manage compensation, scheduling, and recruiting, understand team roles, use our technology to understand financials, market effectively, engage with your community, and much, much more!
Invest In The Hair Industry Today!
Hair care and beauty industry studies show customers are eager to get back to scheduled appointments after shutdowns temporarily closed salons and barbershops in the early days of the pandemic. Not surprisingly, nearly 80% of consumers said that regular salon and spa services are critical to regain a sense of normalcy as the world reopens.
This is exactly the case at Sport Clips. Founded in 1993, Sport Clips has grown to over 1,800 locations in North America and is the only hair cutting franchise to have a footprint in all 50 states.
If you’re ready to invest in a Sport Clips at this exciting time for franchising, fill out our form here and one of our team members will be in touch. We can’t wait to start a conversation with you!