The franchise world can be an extremely competitive one, with thousands of brands in a wide variety of industries vying for both franchisees and customers. So what does it take to be the leading franchise brand in any given industry, from car washes to childcare, pizza to pest control? Our annual Best of the Best list, comprised of the franchisors that ranked at the top of their industry categories in the 2024 Franchise 500, might just hold some clues.
More than 1,300 franchises applied for this year’s Franchise 500 ranking, and were then evaluated and scored based on more than 150 data points in the areas of costs and fees, system size and growth, franchisee support, brand strength, and financial strength and stability. The 500 top-scoring companies became the Franchise 500 — and only 158 of those ranked No. 1 in their categories, making them truly worthy of being called “best of the best.”
Keep in mind as you read that this list is not intended as an endorsement of any particular brand. To find the franchise opportunity that will be the best for you, it’s important to do your own careful research. Always read the company’s legal documents, consult with an attorney and an accountant, and talk to current and former franchisees before investing.
We Asked Franchisors
What qualities do you think set the best franchisors apart?
“The best franchisors continually challenge the status quo and push the boundaries of what’s possible. They understand that the world evolves rapidly, driven by technological advancements. Embracing innovation means encouraging experimentation within your team and fostering a culture where it’s okay to fail forward.” — Marissa Frois, CEO, The Entrepreneur’s Source
“The best franchisors are those that treat people as real people, not just the potential profits they will produce. They pursue a sense of unity with their franchisees and create spaces for franchisees to get to know each other personally, share best practices, and ask questions. Franchisors must see their franchisees as their greatest asset because of who they are, not the fees they pay.” — Jonah Erbe, president, Leadership Management International
“The best franchisors see change as opportunity and have the mindset that challenges are a window to rethink, reposition, and reinvent. The most effective innovations have always come out of times of change.” — Cory Vasquez, copresident & CMO, Realty One Group
What is your company doing to stay at the top of your industry?
“In 2021, we launched the Emerging Entrepreneur Program, an 18-month professional development curriculum designed to provide candidates with the tools, expertise, and strategies to be an effective leader while working as a salaried employee through our international headquarters. The program drives industry innovation and has proven to be an effective model amongst prospective franchisees, with many new owners emerging from it.” — Vinny Provenzano, senior vice president of global franchising, Express Employment Professionals
“We’ve rolled out new technologies and operational protocols to enhance the customer experience and streamline operations. For example, we’ve added self-serve kiosks to many locations. Once in operation for a period of time, we typically see over 50% of all transactions go through the kiosk, and the average kiosk order is $1 to $2 higher.” — Geoff Henry, president, Gong cha Americas
“We recently rolled out our latest store design, which allows for space-saving efficiencies, more play space, and faster construction, so franchisees can open their doors in less time. We also transitioned our daycares to a new state-of-the-art system that makes managing and operating our business even easier.” — Neil Gill, CEO, Dogtopia
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