Color Glo International® Ranked On the 40th Annual Entrepreneur Franchise 500
Minneapolis, January 17th, 2019 - Color Glo International was recently ranked in Entrepreneur magazine’s Franchise 500®, the world’s first, best, and most comprehensive franchise ranking. Recognized by entrepreneurs and franchisors as a top competitive tool of measurement, the Franchise 500® places Color Glo International as #227 for its exceptional performance in areas including financial strength and stability, growth rate, and brand power.
Understanding the ranking
Entrepreneur’s 40th annual Franchise 500® continues to celebrate franchise systems with what is considered to be the world’s first, best, and most comprehensive franchise ranking with a proprietary formula to best evaluate the strength of the franchise opportunities offered today.
“We’re really pleased to have increased our rank on Entrepreneur’s Franchise 500 from 308 the previous year to 227. We are honored to continue to be recognized for meeting the 5 pillars of the franchise 500® year after year”
The five pillars of the franchise 500®
The key factors that go into their evaluation:
Costs & Fees
Franchise fee
Total investment
Royalty fees
Size & Growth
Open & operating units
Growth rate
Closures
Brand Strength
Social media
System size
Years in business
Years franchising
Support
Training times
Marketing support
Operational support
Franchisor infrastructure
Financing availability
Litigation
Financial Strength & Stability
Franchisor's audited financial statements
Before they determine rankings
The first step in determining the ranking is gathering the data. Beginning in July 2018, Entrepreneur asked franchisors to fill out an online form and submit a copy of their current Franchise Disclosure Document (FDD) or Canadian Disclosure Document. The response was impressive, with 1,094 companies supplying all the required information. Submissions were then vetted by an editorial team before being entered for data analysis.
To be eligible to rank, a franchisor must be seeking new franchisees in the U.S. or Canada and must have had a minimum of 10 units open and operating as of July 31, 2018, with at least one franchise located in North America. Each eligible franchisor was scored based on more than 150 data points, and those with the highest cumulative scores became the Franchise 500.
Color Glo International was also ranked amongst Entrepreneur.com’s 2019 Franchise 500 Ranking.
About Color Glo International
Color Glo International is the World Leader in restoration and repair of leather, vinyl, velour, cloth and hard plastics commonly found in the markets of Automotive, Aircraft, Marine, and Furniture. Formally incorporated in 1975 Color Glo began franchising in 1982. Today in hundreds of markets throughout the world. Color Glo products are proven every day to offer the correct results and best value every time they are put to the test.
Contact
Mandi Brandon
mandi@colorglo.com