More growth is in store for Sport Clips Inc., a chain of sports-themed hair care shops geared toward men and boys.
The company just passed the $1 billion mark for net sales and plans to open 120 more stores this year. Sport Clips already has more than 780 stores in 38 states. The company bills itself as the largest men’s and boy’s hair care franchise in the country.
“We started Sport Clips to meet an underserved niche in the market, and reaching this milestone affirms that the vision is now very much a reality,” founder and CEO Gordon Logan said.
Logan predicted the company will reach the $2 billion milestone in three to five years. Sales at stores open at least a year rose 9 percent in 2010 compared with 2009.
Sport Clips is based in Georgetown, Texas, an Austin suburb. Logan founded the company in 1993, with the first prototype store opening in Austin; franchising started two years later.
In May 2010, the company said it had opened nearly half of all franchised hair salons in the country in the past year. For 2011, Sport Clips was ranked 46th on Entrepreneur.com’s list of the country’s fastest-growing franchises.
Buying a Sport Clips franchise requires an investment of $153,200 to $276,900, according to Entrepreneur.com.
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