Great Clips, the world’s largest salon brand, has been ranked #23 overall and #1 in the Hair Care category in Entrepreneur magazine’s Franchise 500. The judges cited unit growth, financial strength and stability, and brand power as factors for recognizing Great Clips's outstanding performance .

“To be at the top of the haircare category for the fifth year in a row is a significant milestone for our brand, particularly in the current business environment,” says Steve Hockett, CEO of Great Clips, Inc. “This award from Entrepreneur is a recognition of the hard work and dedication of Great Clips franchisees, who contribute every day to the success of the Great Clips brand.”

In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the ranking formula continues to evolve. The editorial team researches and assesses several factors that go into the evaluation, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order.