Finder may earn compensation from partners, but editorial opinions are our own. Advertiser Disclosure
Great Clips franchise financing options
Compare costs, fees and where to get financing for a Great Clips.
Estimated initial costs
Our cost estimates are accurate as of 2021 from Franchise Direct and include opening fees and expenses only. The location you choose for your Great Clips franchise may result in higher or lower fees.
Franchise feesGreat Clips franchise fees total around $20,000, which beats out the $37,000 average for the 200 largest franchises nationwide.
|Initial franchise fee||$20,000 to $20,000|
|Estimated total||$20,000 to $20,000|
Equipment feesEquipment fees total $43,750 for Great Clips. This is less than the $180,023 average for the top 200 franchises.
|Fixtures, signage and furnishings, including computer||$35,000 to $50,000|
|Sales tax on fixtures, signage and furnishings||$0 to $2,500|
|Estimated total||$35,000 to $52,500|
Real estate feesReal estate will set you back $67,375 for Great Clips, thought it's less than the average of $788,376 for the top 200 franchises.
|Architecture fees||$250 to $3,500|
|Leasehold improvements, including labor||$40,000 to $80,000|
|Rent and security deposits||$1,000 to $10,000|
|Lease liability fee||$1,500|
|Lease review fee||$850-$2,500|
|Estimated total||$41,250 to $93,500|
Training feesGreat Clips initial training costs total $2,000, which comes in under the nationwide average of $9,788.
|Travel and living expenses while training, per participant||$1,500 to $2,500|
|Estimated total||$1,500 to $2,500|
Inventory costsInitial inventory for Great Clips shakes out to $5,550. This is less than the nationwide average of $53,119.
|Opening inventory and supplies||$4,700 to $6,400|
|Estimated total||$4,700 to $6,400|
Marketing costsAdvertisement and marketing costs total up to $27,500 for Great Clips, which is more than the nationwide average of $9,938.
|Initial advertising contribution to the market development ad fund||$5,000 to $5,000|
|Grand opening advertising||$20,000 to $25,000|
|Estimated total||$25,000 to $30,000|
Insurance costsInitial insurance costs for Great Clips run $2,050. This means you'll be paying less than the overall nationwide average of $6,311.
|Insurance||$1,600 to $2,500|
|Estimated total||$1,600 to $2,500|
Administrative feesGreat Clips administrative fees total up to $4,000 — which comes in under the overall nationwide average of $6,761.
|Freight||$2,000 to $6,000|
|Estimated total||$2,000 to $6,000|
Other expensesMiscellaneous expenses for Great Clips total $32,500 — less than the nationwide average of $69,970.
|Six to 12 months' additional funds||$15,000 to $50,000|
|Estimated total||$15,000 to $50,000|
How to financeSince the estimated total for Great Clips is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Great Clips franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Great Clips about in-house financing for franchisees.
- If in-house financing isn't available, look for online loans, bank loans and SBA loans to help meet the $204,725 estimated opening costs.
- Compare lenders based on amounts, interest rates and what types of personal and business credit history they accept.
- Once you settle on a lender, gather all required documents, including account statements and assets.
- Apply for financing online or in person as required by the lender.
What types of financing is available?You have several options when it comes to financing a Great Clips — even if the cost is on the heavier side. What assets you have available will largely determine how much you need to borrow, and which option suits you best.
- Online loan. A number of online business lenders offer amounts up to $1 million, with some extending up to $5 million.
- Bank loan. Your personal credit will typically need to at least be good — 670 or higher — when it comes to getting a bank loan large enough to cover a significant portion of Great Clips opening costs.
- SBA loan. While your personal credit score doesn't need to be as good to qualify for an SBA loan, they usually cost more than standard term loans from banks or online lenders.
Compare small business lendersYou may not need financing to cover the estimated $146,050. But if you need funds for other business ventures, select the loan amount, your time in business and revenue and your personal credit score to compare a selection of lenders.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How Great Clips stacks upCompare how Great Clips holds up against two similarly sized franchises.
|Curves||Great Clips||Little Caesars|
|Average Franchise fees||$33,750||$20,000||$10,000|
|Average Equipment fees||$9,525||$43,750||$289,000|
|Average Real estate fees||$4,375||$67,375||$533,500|
|Average Training fees||$2,750||$2,000||$14,250|
|Average Inventory fees||$750||$5,550||$108,500|
|Average Marketing fees||$6,000||$27,500||$16,000|
|Average Licenses and permits fees||$250||NA||$10,500|
|Average Insurance fees||NA||$2,050||$1,600|
|Average Admin fees||NA||$4,000||NA|
|Average Personnel fees||NA||NA||NA|
|Average Other fees||$2,000||$32,500||NA|
Bottom lineGreat Clips franchise costs run a total of $204,725. Before you decide to become a franchisee, compare the total costs against industry averages. And to learn more about financing read our guide to franchise financing.
More guides on Finder
Startup business lines of credit
A business line of credit is a useful tool. But as a startup, you may not qualify for the best interest rates with most lenders. Explore your options — and alternatives — for flexible funding as a new business.
How the Restaurant Revitalization Fund works
The Restaurant Revitalization Grant offers grants of up to $10 million to make up for revenue lost during COVID-19.
How to start a t-shirt business
Revel in the freedom of running your own business by selling tees online.
Auntie Anne’s Pretzels franchise financing options
Find out how much it costs to open a Auntie Anne’s Pretzels and what financing options are available to you.
NorthStar Moving franchise financing options
Find out how much it costs to open a NorthStar Moving and what financing options are available to you.
Sears Maid Services franchise financing options
Find out how much it costs to open a Sears Maid Services and what financing options are available to you.
Deck the Walls franchise financing options
Find out how much it costs to open a Deck the Walls and what financing options are available to you.
Zoom Drain franchise financing options
Find out how much it costs to open a Zoom Drain and what financing options are available to you.
Casa de Corazon franchise financing options
Find out how much it costs to open a Casa de Corazon and what financing options are available to you.
Sears Handyman Solutions franchise financing options
Find out how much it costs to open a Sears Handyman Solutions and what financing options are available to you.
Ask an Expert