If you're searching for a franchise brand name to purchase, you're undoubtedly asking yourself this concern: Which brand names deserve my money and time? There are numerous methods to respond to that, however here's a helpful beginning point: Look at the brand names with significant traction. That's what you'll discover on the following pages, where we rank based upon the variety of franchise systems they opened in the U.S. and Canada in one year, utilizing portion development to break ties.
Simply how quick are these franchises growing? Based upon the information sent for Business owner‘s 2024 Franchise 500 ranking, which took a look at systems included in between July 31, 2022, and July 31, 2023, these brand names are far exceeding the competitors. The typical brand name that requested our ranking (with 1,389 candidates general) experienced net development of simply 6.6 franchise systems in the U.S. and Canada throughout that time duration. These 150 fastest-growing franchises grew 10 times that much on average, and the No. 1 business on this list, Stratus Building Solutions, included more than 100 times that lots of systems!
Completely, these 150 business included a combined net overall of 10,310 franchise systems in the U.S. and Canada over one year. As you examine this list, however, remember that it is not meant as a recommendation of any specific brand name. Development might be one sign of a thriving franchise system, however it's not the entire image. Constantly do your own cautious research study: Read the business's legal files, seek advice from a lawyer and an accounting professional, and talk with as numerous existing and previous franchisees as you can.
Related: How Entrepreneur Ranked This Year's Franchise 500, and the Big Trends We Saw
