Color Glo International® Ranked On the 41st Annual Entrepreneur Franchises 500
“Forty years after the very first Franchise 500 ranking, the franchise industry is still going strong and more competitive than ever. More than 1,100 companies applied for this year's ranking, and those that rose to the top reveal the latest trends as well as the companies that continue to evolve to keep going strong year after year.” Color Glo International has ranked #294 in the Top Franchises.
Understanding The Ranking
Entrepreneur’s 41st annual Franchise 500®. From regulations to trends to demographics, the franchise industry has experienced its fair share of change since that very first Franchise 500 was published way back in 1980. But the industry keeps going strong, offering companies of all different stripes an effective mode of expansion, and affording thousands of aspiring entrepreneurs the opportunity to open their own business within an established brand. And Entrepreneur continues to celebrate them all with what is still the world’s first, best, and most comprehensive franchise ranking.
Just as the franchise world has changed over the last four decades, the proprietary formula used by Entrepreneur continues to evolve as well, so they can best evaluate the strength of the franchise opportunities offered today. And with each year, the ranking becomes increasingly competitive, as more and more companies see the value of expansion through franchising and throw their hats into the ring. This list shows just how varied the franchise world has become, offering prospective franchisees a myriad of choices, from more traditional options, like restaurants, maintenance services, and gyms to the latest trends, like ax throwing, cryotherapy, and CBD.
Color Glo International is proud to have made that list once again amongst some of the nation’s top opportunities across various niches. Here’s a peek into their ranking criteria and process.
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 The Rankings
The first step in determining the ranking is gathering the data. Starting in July 2019, they asked franchisors to fill out an online form and submit a copy of their current franchise disclosure document (FDD) or Canadian disclosure document. Entrepreneur had a record-breaking year, with 1,105 companies supplying all the required information. Submissions were vetted by their 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, 2019, 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.
About Color Glo International
Color Glo International is the World Leader in the 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