Upstate New York is Poised for Rapid Growth

Joel Reichman, Sport Clips Haircuts real estate director and Tracy Lauer with real estate development company Widewaters, have a unique challenge in the Upstate New York area. With an abundance of premium sites, a thriving retail climate, lower occupancy rates, and low competition, this area is ripe for Sport Clips to execute its responsible growth strategy. All that is needed are franchisees to take advantage of the opportunities this underdeveloped market presents.

With a strong middle to upper class economy, the Upstate and Central New York area has tremendous potential for forward-thinking entrepreneurs. Large metro areas connected by the major travel corridors of I-90 and 81/87 allow for accessibility to large swaths of wide open development areas. From Buffalo through Rochester, up to Watertown and down through Syracuse, even as far down as Poughkeepsie, opportunities abound.

Lauer says, “The retail climate in this area is great. It is not inclined to huge economic swings. The market is strong. With no real huge influxes in and out, population is steady. And pricing is economical, which makes owning a business here sustainable.”

And with the recent surge of redevelopment, landlords are eagerly welcoming in high quality tenants, with Sport Clips being at the top of their preferred list. “Landlords have a favorable view of Sport Clips largely because we don’t close stores. We’ve averaged fewer than two store closures a year over the last six years. Our closest competitor closed 70 last year alone,” says Reichman. “Landlords are excited when we come into a center. They know the brand drives in recurring business that benefits all. We are catering to men and boys, which only helps other salons catering to women in the same center. We are not a discount haircutter. We offer an experience, one that clients return for time and time again.”

Poised for expansion in this emerging market, Reichman is keeping abreast of area development schedules and diligently keeping top of mind Sport Clips brand awareness with developers. “We are already discussing developments as far out as 2020. Prime real estate is available today and landlords are eager to work with our brand.”

Sport Clips’ real estate relationship with local property management company Widewaters provides an ideal advantage as well. Lauer explains, “Widewaters represents other nationally recognized brands as well, including anchor stores. We can see what is in development first, giving us a competitive edge on real estate. Also representing smaller tenants gives us the ability to split sites, which opens even more creative opportunities.”

With the market wide open and Sport Clips’ highly scalable business model, there are many possibilities for the right Team Leader (franchisee). Reichman adds, “Brand awareness is high. People are excited to see us come into a center. There is so much potential in the Upstate New York market, I am excited for those Team Leaders who will get to take advantage of it.”

To learn more about opportunities available in the Upstate New York area, click here.

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