[ad_1]
If you’re looking for a franchise brand to buy, you’re probably asking yourself the following questions: Which brands are worth your time and money? There are many ways to answer that, but for a useful starting point, let’s look at some brands that are getting a lot of attention. You can see it on the next page. There, they are ranked based on the number of franchise units opened in a year in the U.S. and Canada, using growth rates to break ties.
How fast are these franchises growing? Based on the data submitted. entrepreneur‘s 2024 Franchise 500 ranking looks at units added from July 31, 2022 to July 31, 2023, and these brands far outperform their competitors. The average brand that applied to our ranking (1,389 applicants overall) had net growth of just 6.6 franchise units in the US and Canada during that period. But these 150 fastest-growing franchises grew by an average of 10x, and the No. 1 company on this list, Stratus Building Solutions, added more than 100x its units.
Together, these 150 companies added a total of 10,310 franchise units in the U.S. and Canada in one year. However, as you read through this list, keep in mind that we are not recommending any particular brand. Growth may be one indicator that a franchise system is thriving, but it’s not the whole story. Always do your own careful research. Read the company’s legal documents, consult an attorney and accountant, and talk to as many current and former franchisees as possible.
Related: How entrepreneurs made it to this year’s Franchise 500 and the big trends we saw
[ad_2]
Source link
