In a sputtering economy and without any experience running a retail operation, Chris Parker is excited about prospects as he plans to open two more Sport Clips hair salons over the next two years.
His first Sport Clips franchise on the near North Side is making an operating profit after opening just more than a year ago and he anticipates double-digit growth this year, Parker said.
“The success rate with the Sport Clips model is very high,†said the retired U.S. Air Force lieutenant colonel. “We are very confident that as long as we execute the model, we’ll be fine.â€
Franchising has spread across the world by giving individuals and small businesses the opportunity, for a fee and monthly royalties, to share in the benefits of well-known brand names and in the business lessons those brands have developed.
Jerome Katz, who studies entrepreneurship at Saint Louis University, said the Internet has probably taken the lead as the generator of the most business startups.
But when it comes to acquiring an established business name, a set of practices and business assistance, franchising has other business structures beat, Katz said. More.