A Case Study
Here’s one you may NOT know about, an unassuming privately held but steady growth company springing from the frozen north of Minnesota.
While we have been sleeping they have been steadily growing for decades, with same store sales growth Y/Y stringing out now for OVER 50 straight quarters.
Who is this? A not so little company called Great Clips, now with over 3,500 salons.
How? Two recent examples: First they have a fantastic check-in application. Next, Clip Notes. Clip Notes almost has a misleading name, because it is MORE than notes, it is actually a new language for delivering haircuts. Clip Notes is a structured language that stylists learn so they can deliver the right cut consistently and conveniently.
Strip malls love having Starbucks as an anchor. Why? Steady every morning business. We would imagine Starbucks pays rent, but in a very real way they a good example of a NEW Anchor, they are the lifeblood of the center, and it could be the other tenants should really be paying them to be there. And maybe someday they will.
So, increasingly, are companies like Great Clips, though they don’t drive visits every-day they do every few weeks, like clock-work. They have knowledge of their customer base that is Starbuck’s like or better with killer app’s that are arguably just as strong.