Entrepreneur Magazine’s 34th Annual Franchise 500® Released
IRVINE, Calif., Dec. 13, 2012 /PRNewswire/ — Entrepreneur magazine’s 34th annual Franchise 500(®) listing reveals signs of recovery in franchising and highlights the top-ranked franchises of the year. For the third consecutive year, Hampton Hotels retains its number-one spot on the list, followed by Subway, Jiffy Lube, 7-Eleven and Supercuts, respectively.
Companies that are no strangers to the Franchise 500(®) continued to thrive in 2012, thanks to their scalable systems, affordable products and attention to customer support. Noticeably strong are companies that focus on specific demographics, including children, seniors, Latinos and veterans.
“We’re seeing familiar heavy-hitters leading the ranks again this year, but the list overall has grown more diverse with plenty of newcomers making big strides,” says Amy Cosper, VP and editor in chief of Entrepreneur. “With thousands of new franchise establishments that are creating more jobs, things are looking up in the franchise world and for business as a whole.”
The companies in the Franchise 500(®) added 19,197 units between 2011 and 2012, almost double the growth showed last year. According to the latest figures from the International Franchise Association (IFA), the franchising sector accounted for approximately 3.4 percent of the U.S. gross domestic product and was worth more than $460 billion. Franchise establishments were forecast to have a net of 167,000 new jobs by the end of the year.
The rankings for all 500 companies are determined using an exclusive formula that takes into account objective and quantifiable factors. An independent CPA analyzes all financial data. The most important factors include financial strength and stability, growth rate and size of the system. All franchises are given a cumulative score, and the 500 franchises with the highest cumulative scores become the Franchise 500(®) in ranking order.
In addition to the ranking, Entrepreneur‘s annual Franchise 500(®) issue looks at the top 10 companies on the list and the business insights that have made them so successful. There are also details on understanding the ranking, information on programs that offer financial help to franchisees and features on the populations being targeted by companies on the upswing.
To view the full ranking and any of these related stories, pick up a copy of the January 2013 issue of Entrepreneur on newsstands December 18th, or visit www.entrepreneur.com/franchise500.
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SOURCE Entrepreneur magazine