Stepping Up! Flip Flop Shops Hits Epic Milestone
In an attempt to expand it’s global brand, Flip-Flop Shops announced today that it has signed its 100th franchise agreement. The new store will be located in Universal Studios, but the brand says that this is still just the beginning of their successful journey. “Nobody sells flip flops like we do,” said Darin Kraetsch, the CEO (Size 10) of Flip Flop Shops. “Consumers know that when they come to Flip Flop Shops they can take a break from reality and indulge in all the hottest brands and latest styles of flip flops and sandals right at their fingertips – no other retailer offers that. We’re experiencing our most robust growth phase ever, and this is only the beginning. We’re stoked to hit our 100th shop milestone and look forward to the continued success of our brand.”
ATLANTA – Three years after launching its franchising program, Flip Flop Shops has grown into a global brand in the action sports retail industry and has yet another reason to be “flip-ping out” with excitement.
Right off the heels of the company’s epic master franchise deal for Canada, North America’s first retail chain exclusive to the hottest brands and latest styles of flip flops and sandals, Flip Flop Shops announced today that it has signed its 100th franchise agreement with franchisee Valeh Rashidian (Size 9) for her fifth shop, which will be located in Universal Studios, Calif. Rashidian currently has locations in Universal CityWalk and Canoga Park in California, and also has franchise agreements to open shops in Santa Monica and Las Vegas.
Flip Flop Shops has grown its franchise system at a record pace. Since 2008, the growing brand has received more than 8,000 franchise applications, generated nearly $3 million in franchise fees and opened 40 shops throughout the United States, Canada, Guam and the Caribbean.
“Flip Flop Shops fulfills a huge, untapped niche in the retail landscape and it shows in our growth – we’re well on track to hit our franchise development goal of signing 236 shops by 2013,” said Brian Curin, the President (Size 10) of Flip Flop Shops. “We’re growing with the right franchisees who have a solid business acumen coupled with a mellow, free-spirit nature and a passion for the Flip Flop Shops way of life.”
Once reserved only for poolside or beachwear, flip flops have grown to become the “global youth uniform,” as well as accepted footwear for anyone ranging from surfers to high-level corporate executives. Flip Flop Shops’ mission is to provide the opportunity for anyone, in any climate, to “Live…Work …Play With Their Toes Exposed®” while wearing the freedom of flip flops on their feet. The shops carry the hottest brands of flip flops and sandals – such as REEF, Sanuk, Flojos, havaianas, OluKai, Cobian and O’NEILL, among others – and retail between $20 to more than $100.
The smell and sound of each shop captures the Flip Flop Shops laid-back, yet adventurous character. If the 500-900 square foot shops aren’t near the beach, they bring the beach to consumers with coconut suntan oil scents wafting through the air, active lifestyle inspired music tickling consumer senses and the top action sports films playing on flat screens.
“Within the past three years, Flip Flop Shops has expanded outside the United States to Canada, Guam, and the Caribbean, with no signs of slowing down. We’re pioneering a global 'Free Your Toes’ movement – providing huge opportunities for today’s entrepreneurs, who are looking to get into franchising,” Curin added.
To further augment the company’s growth, Flip Flop Shops is seeking single- and multi-unit franchisees that exude the lifestyle tenets and casual nature that are affiliated with this liberating footwear style. The average cost to open a single shop can be between $167,300 and $272,500, with a franchise fee of $30,000.
With more than 60 shops in development, the 100th signed franchise agreement is part of a well-managed global expansion strategy calling for 236 locations to open in select markets by 2013.
For further information on Flip Flop Shops or to find the nearest shop, visit www.FlipFlopShops.com <http://www.flipflopshops.com/> .
About Flip Flop Shops
Founded in 2004, Flip Flop Shops is North America’s first retail chain exclusive to the hottest brands and latest styles of flip flops and sandals from big names such as REEF, Sanuk, Flojos, havaianas, OluKai, Cobian, and O’NEILL. The recipient of the International Council of Shopping Centers’ prestigious “Hot Retailer Award,” Flip Flop Shops began franchising in January 2008. Flip Flop Shops is an Environmentally Responsible RetailerTM and encourages the nation to Free Their Toes®. The executive team boasts more than 50 years of franchise experience building and growing some of the world’s fastest-growing franchise concepts, category leaders and some of the world’s most well-known brands, including Cold Stone Creamery, Moe’s Southwest Grill and Nike. With 40 shops currently operating and 60-plus in development, the company plans to open 236 shops by 2013. For more franchise opportunity information, visit www.flipflopshops.com <http://www.flipflopshops.com/> .
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Contact: Jayne Levy, Fishman Public Relations, (847) 945-1300 ext. 225, [email protected]