Tuesday, April 2, 2024

My Favorite Business Rankings - Entrepreneur

 I forgot this one - Franchise Ranking

In economic development, one of the most common business start-ups is the franchise.  Entire courses in community colleges are centered on franchises.  It is one way to jump ahead when starting a business. 

You will know many of the franchises on the list. And you may be surprised by some of the franchises.  The list is capped at 500 out of approximately 1,100 firms. Yes, I know, I too was surprised at the number. 

I was most impressed by the section titled, “Fine Your Franchise”.  It has 12 groups you can review to find one or more you may have an interest in.  A couple of the categories are business services, food and beverage, maintenance, retail, and recreation.  This is only a few.  The next section is a series of questions designed to help you narrow your choices. 

This is a very detailed and well researched ranking.  Please read the blue tab labeled “Jump to Franchise Overview”.  This is invaluable as it lets you compare franchises.  A summary of the key sections of the Franchise 500:

-Business Overview

-Financial Requirements and Ongoing Fees

-Financing Options

-Training and Support Offered

-Operations

Each franchise must currently be searching for a franchisee and have a minimum of 10 new franchises opened with one in North America. Franchisers are given the choice of filling out a form or submitting a current Franchise Disclosure Document (FDD). It is an impressive list. 

In addition, the ranking includes excellent write-ups of each franchise. Generally included are initial investment range, number of units, why you may want to start an individual franchise, why this franchise, how to open one, and an excellent company summary.

This is an informative and fun list.  Link:

https://www.entrepreneur.com/franchise500


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