IRVINE, Calif., Jan. 4 /PRNewswire/ -- Entrepreneur magazine's 27th annual ranking of the top franchise opportunities in the United States reveals that 2005 saw phenomenal growth in the franchise industry - growth that helped power the small and medium business (SMB) market to new heights.
In 2005, Franchise 500® companies brought in a combined total of $134.2 billion in sales. There was also an 11% increase in the number of franchise units between 2004 and 2005 - nearly three times the percentage of growth that occurred between 2003 and 2004. The growth in all franchise categories across the board shows that franchising was a major force in the growth of SMBs in 2005.
Spurring this growth are several market factors: more and more individuals are seeking to realize their entrepreneurial dreams, jaded corporate employees are ready to apply their business savvy and skills to their own businesses, and there is a generation of baby boomers who are not quite ready to retire. In addition, experienced entrepreneurs are increasingly embracing franchising as a way to expand their existing businesses, while well-known franchise companies and new franchises are looking to fill gaps in the marketplace. All of this has added up to exceptional growth and lots of potential for those looking to become business owners.
Among the hottest franchise categories Entrepreneur's annual ranking revealed are do-it-yourself meal preparation businesses, eBay consignment stores, pet products and services, kids' specialty services, and fitness and weight-loss businesses.
Top 10 franchises for 2006
1) Subway
2) Quiznos Sub
3) Curves
4) The UPS Store
5) Jackson Hewitt Tax Service
6) Dunkin' Donuts
7) Jani-King
8) RE/MAX Int'l, Inc.
9) 7-Eleven Inc.
10) Liberty Tax Service
For the 14th time, Subway has been named the number-one franchise in Entrepreneur's Annual Franchise 500®. Founder Fred DeLuca realizes this is a collaborative win, saying, "Franchisee energy is really amazing in what it brings to the organization. We're very much in the people business in that there are two important groups you have to work with: customers and employees." With 20,740 North American locations and more than 2,000 inquiries from potential franchisees each week, Subway is poised for continued growth.
This year both the No. 1 and No. 2 ranked franchises are sandwich shops. Quiznos Sub, last year ranked No. 3, took a step closer to toppling its primary rival by moving up to the No. 2 spot.
About the Franchise 500®
Entrepreneur's Franchise 500® is the world's first, best and most comprehensive listing of franchise opportunities. Franchise 500® rankings are determined by numerous factors, including financial strength and stability, growth rate and size of the system, number of years in business and length of time franchising, start-up costs, litigation, percentage of terminations and whether the company provides financing.
For the complete story and listing, pick up a copy of the January 2006 issue of Entrepreneur magazine or read about it on Entrepreneur.com at http://www.entrepreneur.com/franchise500.
About Entrepreneur Media Inc.
Entrepreneur Media Inc. is an organization of people dedicated to empowering entrepreneurs worldwide to start and grow successful companies. To provide entrepreneurs with the relevant information they need to make informed decisions, Entrepreneur Media Inc. offers a full range of products and services. Products include: Magazines - Entrepreneur, Entrepreneur's Startups, Entrepreneur Mexico, and Entrepreneur Philippines; Websites - Entrepreneur.com, SoyEntrepreneur.com, EntrepreneurPress.com and Freebks.com; Book Publishing - Entrepreneur Press, Entrepreneur's eBooks and Business Startup Guides; Also - Conferences and Custom Publishing.
Other products and brands are registered trademarks or trademarks of their respective owners/companies.
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