Haircuts. Now there’s a market with nothing new to be added, right? Don’t say that to Sports Clips, which has been identified as one of Entrepreneur magazine’s fastest growing franchises. This company is a great example of looking at the same boring market as everyone else and seeing it differently. The result is a novel store model that has resulted in tremendous growth.
“We are changing what men perceive as a commodity to an experience,” says Gordon Logan, CEO and founder of Sport Clips. “We’ve done what no one else has – targeted 50% of the market.”
What does the company offer that’s so unique? It is designed solely for guys—a market segment that has had to choose between old-style barber shops and full-service hair salons, neither of which do a good job of providing great, affordable haircuts in an environment that is comfortable for guys (try to find a guy-oriented magazine in a hair salon!). That’s the essence of business opportunity, and Sports Clips has filled it admirably. Here’s their approach:
“Targeting men and boys, Sport Clips operators provide high quality haircuts in a fun environment, complete with TVs at every stylist’s station tuned to sports. Every Sport Clips has specially trained stylists who focus on providing the highest level of service to every client.”
Colleen Gaiser, manager of my local franchise store, gave me a tour last week. From the big screen TV broadcasting a college football game in the foyer, to the sports magazines, to the neck and shoulder massage; this place was custom-tailored for men. And it’s succeeding, with $25 million in sales and expectations to continue doubling in size. Companies in the Swamp, take notes: this is a case study in how to recognize a need and develop a custom designed solution.
