CARRBORO, NC - Fleet Feet, Incorporated, (www.fleetfeetsports.com) the nation’s leading franchisor of running specialty stores, recorded 19 percent growth in overall sales in 2007 with 80 stores, surpassing $75 million in revenue compared to $63 million in 2006. Comparative store sales in 2007 increased 15 percent over 2006.
Twenty-five stores recorded $1 million in annual sales in 2007 with the addition of four stores to these ranks. Average sales for stores opened for two or more years surpassed the million dollar mark for the first time (from $996,000 in 2006 to $1,075,000 in 2007).
“We are extremely proud of this organization for defying national retail trends by posting continued growth and success in 2007,” said Jeff Phillips, President of Fleet Feet, Inc. “It’s not without an enormous amount of work on the part of our franchisees who have an unwavering focus on serving our customers. Through the support of our vendors, corporate staff and franchise network, these specialty business owners are making a significant, positive impact on their communities, and it’s paying off.”
Fleet Feet, Inc., was recognized by two business publications for excellence in 2007, Entrepreneur Magazine and Inc. Magazine. For the second year in a row, Entrepreneur ranked Fleet Feet, Inc. in their Franchise 500 – its annual list of top franchisors. At 352, Fleet Feet, Inc. is the only running specialty retail franchise on the Franchise 500 listing.
In addition, Inc. magazine included Fleet Feet, Inc. in its Inc. 5,000 fastest growing companies in America listing, an expansion of the Inc. 500 introduced in 1982.
Fleet Feet, Inc. added 12 new franchise owners to the network in 2007. Ten new locations were opened, including one by an existing franchisee, and three existing locations changed ownership. Three of the new franchise owners are former store employees, bringing the total number of franchises owned by former employees to 18. Fleet Feet, Inc. plans to open 12 new stores in 2008.
About Fleet Feet, Incorporated
Fleet Feet, Incorporated is the industry leader in franchising successful, community-oriented, specialty footwear, apparel, and accessory stores serving runners, walkers and lifetime fitness enthusiasts. Currently there are 81Fleet Feet Sports locations nationwide. Fleet Feet, Incorporated offers support for existing and potential franchises out of its corporate headquarters in Carrboro, North Carolina.