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Great Clips Inc.

A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.

Great Clips, Incorporation headquartered in Minneapolis, Minnesota, is one of the largest franchisors in the nation's 55 billion dollars per year hair care industry. It was established in 1982, Great Clips perfected a system for delivering competitively priced, high quality haircuts and perms to men, women and children. The company began franchising in 1983 and today, has over 2,600 salons in 130 markets across the United States and Canada.

Great Clips has created and implemented one of the top franchise business opportunities in Canada and the United States. Great Clips was ranked the 20^th fastest growing franchise by Entrepreneur magazine in 2006 and has been ranked as one of the top franchise opportunities the last five years. In 2005 alone, Great Clips opened 214 new salons and 85 franchisees joined the Great Clips franchise system. Franchisor is a privately-held company with 255 employees and 9 employees in franchise department. Great Clips Incorporation is a Hair salon.

Great Clips total investment is 98.8-184000 dollars, franchise fee is $25000 dollars, ongoing royalty fee is 6 percent, term of agreement is 10 years and renewal fee is 1.75000 dollars. Great Clips ranked 52 in 2006, 37 in 2005, 36 in 2004, 41 in 2003, and 49 in 2002 in franchise 500.

Great Clips salon aim is to design allows for both good working conditions and privacy for the client. They will assist you in designing your floor plan to be consistent with this proven look and feel of Great Clips locations. As a new franchisee, a facilities and purchasing specialist will be there to help you ensure a successful opening.

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