16 Mar Closets by Design Lands on Entrepreneur Magazine Prestigious Franchise 500® List For 8th Time
Closets by Design ranks among the best franchise opportunities in the nation, according to Entrepreneur Magazine.
The custom home organization company is listed 403rd on the prestigious Franchise 500®, the most comprehensive franchise ranking in the world. It is the eighth straight year Closets by Design has been named to the list.
Entrepreneur Magazine considers unit growth, financial strength, stability, and brand power when ranking companies on the extremely competitive list.
“Closets by Design is thrilled to once again be recognized by Entrepreneur’s Franchise 500 as one of the top franchise opportunities in the nation,” said Jerry Egner, President of Closets by Design. “We are proud of what we have achieved as a leader in the home organization industry. Thanks to our solid business model and continued demand, we have grown tremendously as an organization, even during a pandemic.”
The Franchise 500 is a highly sought-after honor in the franchise industry and is recognized as an invaluable resource for potential franchisees. Entrepreneur received more than 1,000 applications this year, making it one of the company’s most competitive rankings ever.
“2020 was a challenging year for everyone, but it was also a year of unusual opportunity,” says Jason Feifer, Entrepreneur editor-in-chief. “Franchises were able to be nimble and innovative, serving the needs of franchisees and customers in ways that will resonate for many years to come. We believe that, when we eventually look back on this time, we’ll see it as a moment when many brands defined themselves for the future.”
In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s 42-year-old ranking formula continues to evolve as well. The key factors that go into the evaluation include costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.
Over its 42 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Closets by Design’s position on the ranking is a testament to its strength as a franchise opportunity.
To view Closets by Design in the full ranking, visit www.entrepreneur.com/franchise500. Results are also published in the January/February 2021 issue of Entrepreneur, available on newsstands.
To learn more about the franchising opportunities with Closets by Design, visit closetsbydesign/franchising.com.