The rankings are in and Entrepreneur Magazine's 31st Annual Franchise 500 is out, with Subway taking the number-one spot. McDonald's, 7-Eleven, Hampton Inn and Supercuts are next up in positions two through five, respectively, in the world's first, best and most comprehensive franchise ranking.
While Subway leads, in all, 21 sandwich shops made the ranking this year, including many smaller chains such as Charley's Grilled Subs, Jimmy John's, Jersey Mike's and Firehouse Subs showing strong growth.
Together, the 500 franchises on the ranking added more than 12,000 units, or 2.9 percent above 2008's numbers, proving the growth of franchises as a whole. The franchises that grew the most were the ones who serve a budget-minded consumer, didn't cost as much to set up, or both.
"What we've been recognizing for some time is now getting widespread recognition: that the recession is adding momentum to the pursuit of entrepreneurship and self-employment. For the growing numbers seeking business ownership opportunities, franchising can offer advantages like having established products or services; marketing, start-up and management assistance; proven systems and business models; and brand name recognition," said Amy Cosper, vice president and editor-in-chief at Entrepreneur.
The January issue containing the ranking is a complete reference guide for established and aspiring entrepreneurs, revealing not only the companies who made the list according to their industry categories, but also top franchise trends for 2010, a look at 10 great franchises for less than $20,000, sources for financing, what 2010 will hold for franchises as a whole and more.
Click here to view the full ranking.
