Color Glo International Ranked On The 2021 Entrepreneur Franchise 500
Color Glo International® Ranked On the 42nd Annual Entrepreneur Franchises 500
Minneapolis, MN Color Glo International recently ranked in Entrepreneur magazine’s Franchise 500®, the world’s first, best, and most comprehensive franchise ranking. Placement in the Franchise 500® is a highly sought-after honor in the franchise industry making it one of the company’s most competitive rankings ever. Recognized as an invaluable resource for potential franchisees, the Franchise 500® ranks Color Glo International as 363 for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
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. Color Glo International’s position on the ranking is a testament to its strength as a franchise opportunity.
“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.
Understanding The Ranking
Entrepreneur’s 42nd annual Franchise 500®. In spite of the many challenges faced by the franchise industry in 2020, many existing franchisors continued to grow (and evolve), and new companies even continued to enter the franchise arena, resulting in a record-breaking number of applicants from an ever-wider variety of industries.
Here’s a look at the process that Entrepreneur has honed over more than four decades to determine this, the world’s first, best, and most comprehensive franchise ranking:
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 June 2020, 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 another record-breaking year, with 1,116 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, 2020, 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.
To view Color Glo international in the full ranking, visit www.entrepreneur.com/franchise500. Results can also be seen in the January/February 2021 issue of Entrepreneur, available on newsstands.
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