In this rough economy, most salon owners are feeling the pinch. "The salon industry saw its lowest historical overall growth of only 2.8 percent in 2008 per our latest 2008 Salon Industry Study," says Cyrus Bulsara, president of Professional Consultants and Resources, a leading beauty, salon, and cosmetics consulting company. However, "'Economy' chains like Great Clips and Sport Clips are seeing good growth," he says.

Logan echoes this sentiment. In fact, he says his stores gain clients during tough times, thanks to the company's reasonable price points. But Sport Clips has seen a dip in franchise sales. In order to encourage new franchisees, the franchisor revoked its requirement that new owners open three stores in three years. Now franchisees can buy single licenses, although they still need to have solid financials and appear capable of opening multiple units, says Logan.

So what makes the perfect franchisee? Having a background in the hair care industry isn't nearly as important as having people skills. Franchisees will have access to multiple types of support and training, giving them the necessary tools for success no matter what their previous level of experience. Aside from having a relatively low investment, franchisees will also benefit from the company's relationships with third-party vendors and lending institutions, with which Sport Clips negotiates better contracts and financing deals.

But Bulsara says that with the economy in the dumps, there's an extra hurdle that potential franchisees should be aware of: employee turnover. "Many out-of-work executives and middle managers migrate to the salon industry franchises in bad times and a majority leaves as the economy improves."

It's also crucial that potential franchisees are interested in building the brand, says Logan. Sport Clips has sponsorships with Major League Baseball, NASCAR, and the National Hockey League, and the company also supports local youth leagues. "We want to give back," says Logan, whose company partnered with Vidal Sassoon and Habitat for Humanity to help rebuild homes in the region devastated by Hurricane Katrina. Sport Clips has also partnered with Veterans of Foreign Wars (VFW) to support Operation Uplink, which provides active-duty troops and hospitalized veterans with free phone time to call home and speak to their loved ones.