CATEGORIES: Business, Franchising
CATEGORIES: Business, Franchising
As you start looking at brands to invest in, there's one list that you should definitely check on. The Franchise 500 list is said to be a definitive guide for people who want to buy a franchise. And if you’re a franchisor, this is where your hard work is recognized.
But you might be skeptical about the integrity of the list. Some even say those who advertise the most get on top of the list. But what is the truth about the Franchise 500 list?
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In this episode, Erik shines the spotlight on Tracy Stapp Herold. As Entrepreneur’s Special Projects Editor, Tracy has been analyzing and writing about the franchise industry for more than 20 years now. She heads up the company’s annual Franchise 500 ranking, which evaluates and ranks the top 500 franchise brands out of more than 1,300 applicants every year, as well as other rankings, including Top New & Emerging Franchises, Fastest-Growing Franchises, Top Franchises for Veterans, Top Franchise Suppliers, and more.
Are you curious about how brands land on the Franchise 500 list and what categories to watch out for? Take this opportunity to hear it straight from the person who spearheads the evaluation and ranking of different brands.
“Don't discount a franchise just because it's not ranked in the Franchise 500. There are lots of great brands that do not make it into the Top 35−36% of the list, and that doesn't mean that they're not good brands.” - Tracy Stapp Herold
In This Episode:
- Why are some people skeptical about the Franchise 500 list?
- How does the Entrepreneur come up with their annual list?
- At what point can brands apply?
- What's the value of the Franchise 500 list for a potential franchise buyer?
- What information can't you see just by looking at the list?-
- The most meaningful data that goes into the list
- Are there other magazines where franchisors pay to get on the list?
- Hot Categories in the Franchise 500 list
- The Franchise 500 Hall of Fame List
- What should people understand about the Franchise 500 list that they may not know?
- Upcoming franchise categories to watch out for
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🌐 Entrepreneur’s 2024 Franchise 500 Ranking - https://www.entrepreneur.com/franchise500
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Erik Van Horn is a franchising specialist and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.