Last week, Entrepreneur released its highly anticipated annual Franchise 500® list, which ranks the top-performing franchises in the industry. The business models of these successful brands are judged on five key factors, including cost, support, growth, brand strength, and financials. Earning a spot on this prestigious list is an arduous process where franchisors submit their information along with a copy of their most recent Franchise Disclosure Document (FDD). To be eligible for consideration, a franchise must have a minimum of 10 units open, at least one of which is located in North America. Each franchisor was then evaluated and assigned a score based on over 150 data points. Those with the highest cumulative totals made it into the Franchise 500®.
Now that the list is public, FranNet wanted to review the rankings and determine the number of individual franchises that are currently a part of our inventory. It turns out that our consultancy works with 111 of 500 franchise brands that received a ranking in 2022! Going a step further, FranNet listed the individual rankings of each of these 111 brands and put them in numerical order. Here are some fun facts about a few of the franchises that FranNet works with who made the Franchise 500® in 2022:
The highest-ranking franchise in FranNet’s inventory was Servpro, coming in at No. 8 overall and the only top-10 brand who earned a spot. Four other brands earned a score that put them in the top-25, including Budget Blinds (15th), Pet Supplies Plus (20th), Great Clips (23rd), and Express Employment (25th). At the other end of the list, which is still quite a remarkable achievement, mind you, is the final FranNet brand that earned a spot on the Franchise 500® list, StretchLab. This was the 43rd annual ranking and nominations for the 2023 edition will begin in July of this year.
FranNet is proud of each and every one of the 111 franchises in our inventory that made the list this year, and salutes all the brands who earned a spot. That FranNet works with over 100 quality brands such as these is another reason it’s important to partner with a consultancy like FranNet when you begin the investigative process of franchising. For over 30 years, we’ve been a trusted partner, advising thousands of individuals who made the decision to become their own boss and live a life more entrepreneurial. And we can do the same for you. FranNet representatives can be found in all 50 states and all five provinces of Canada, making us the leading choice for franchise consulting. And the best part? All of our services come at no cost and no obligation to you.
If you’re interested in becoming your own boss and you’ve decided that 2022 is going to be the year to make it happen, we can help you begin a personal entrepreneurial journey of your own. Getting started is easier than you think, and you can begin today by making an appointment with one of our qualified FranNet consultants who live and work in your area.