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VOL. 132 | NO. 112 | Tuesday, June 6, 2017

Great Clips Eyeing Dozens Of Stores In Memphis Area

By Patrick Lantrip

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Since 1982 Great Clips has opened up more than 4,000 salons across the U.S. and Canada and now has its sights on the Memphis market.

Great Clips franchisee Kristy Beliew, left, plans to open three Memphis locations, extending her Arkansas territory. (Submitted)

“With more than a million people living in the greater Memphis market, this is very similar to some of the other 180-plus markets where we cut hair,” Great Clips Chief Operating Officer Rob Goggins said. “Since we have a strong presence in nearby markets, it was an obvious choice to continue our expansion into the Memphis market.”

Great Clips plans on eventually opening as many as 40 salons in the area, according to Goggins, and is currently choosing locations for their first wave of stores.

“Great Clips typically looks for shopping centers that feature high traffic, good access and visibility, and strong retail co-tenants such as Starbucks, Chipotle, Panera or fitness locations,” Goggins said. “These are places where people are running errands, and it is easy to pop in and get a convenient haircut.”

Goggins added that Great Clips typically looks for areas with a minimum of 20,000 people living in a three-mile radius and average to above-average incomes relative to the rest of the market.

To navigate the new market, Great Clips has brought on Frank Dyer III with Loeb Realty Group as the company’s exclusive broker in Memphis.

Dyer said Great Clips is looking at all areas of the Memphis metropolitan statistical area and is looking to expand very quickly.

“Potentially you could have four, five or six franchisees all looking to expand at the same time,” Dyer said. “They prefer grocery-anchored centers and centers that will have lots of daily trips.”

Dyer said Great Clips franchises are typically one-bay users and have the flexibility to go as small as 800 square feet. He noted that the economics of a store makes less sense when looking at locations above 1,400 square feet.

“There are areas that we are targeting within this market,” said Kristy Beliew, who will be one of the first franchisees in the Memphis area market. “Areas that are very family oriented, where we can get involved in the community.”

Beliew, a native of the Mid-South, opened her first Great Clips location in Jonesboro, Arkansas, in 2013 and a second location in neighboring Paragould, Arkansas, in 2015. Now she is looking to expand into Memphis.

“They will be staggered,” she said. “I hope to open three in about a 24-month period. After the third one, I’ll just play it by ear.”

Prior to becoming a salon owner, Beliew, an Arkansas State University alumna, worked as an elementary school teacher. She quit teaching to spend more time with her children, but once they were both old enough to go to school, she started looking at opening her own business.

“I saw a need in Jonesboro for what Great Clips has to offer,” Beliew said. “I had small children of my own and was looking for the convenience and affordability of a salon where we could just run in without an appointment.”

Beliew said it has been a great experience so far.

“If people come through the door and try us out once, we feel like they will return.”

PROPERTY SALES 56 289 2,908
MORTGAGES 55 226 2,009
BUILDING PERMITS 108 1,002 6,703
BANKRUPTCIES 42 248 1,225