How to Buy a Sports Clips Franchise
Locating the Shop
To determine if there are franchise opportunities in your area, visit the Sport Clips website, which offers an interactive map of available markets in the United States and Canada. As of the date of this publication, about half of the states -- including those on the two coasts and in the Upper Midwest -- were still "developing" with available locations, while the Mountain West and Great Plains regions were, for the most part, "sold-out markets." For more information on individual states, contact the company, which helps with location scouting and leasing.
Profiling Yourself
Complete your individual profile online. The company uses the profile to evaluate your suitability as a franchisee. The simple Web form asks for complete contact information, your top three location preferences, your prospective start date, current occupation and past experience, household income and financial position. As of the date of this publication, the company required new franchisees to have $300,000 in net worth and $100,000 in liquid capital. Candidates must also give a general answer regarding the reason for their interest in running a Sports Clips franchise.
Meeting Up
If you've passed the basic qualifications on the individual profile, meet with a development specialist to go over preliminary startup information and procedures. At this meeting you will receive a franchise disclosure document with more information, including sales numbers. The company will also arrange phone calls with current franchisees, during which you can ask questions and get some firsthand testimony on running a shop.
A Visit to Company HQ
Attend discovery day at company headquarters in Georgetown, Texas. Executives will meet with you and you'll attend meetings on operations, training and marketing. Like any franchise operation, Sport Clips standardizes many difficult but important aspects of the business, down to the design of the individual shops, so that you'll be relieved of making decisions. Your application is subject to the approval of the Franchise Committee. If successful, you're next step is to study and sign a five year franchise agreement. The contract lays out the business terms, regulations and procedures, and sets 6 percent royalty from your shop to the company, as of the date of this publication.