Looking to Buy A Business? These Are the Top 500!

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Hey, my name is Jason Pfeiffer and I'm the editor in chief of Entrepreneur Magazine. I I'm sorry to drop into the podcast feed here all unannounced and unexpected, but we just released an incredibly valuable resource and if you're looking to buy a business to be your own boss to pursue a new career, well, you need to know about this. It's called the Franchise 500 and before I tell you more about it, here is a quick story. Many years ago I was invited to speak to a convention of franchisees from a particular travel agency brand and after I spoke we one of the attendees came up to me with an old copy of Entrepreneur magazine in her hand and she flipped through a listing that we had published of the top franchises for people to buy and she pointed to a particular spot on a particular page. She had been reading through this list years ago, she told me, because she always dreamed of owning her own business and she just wasn't sure what business to Buy. And then this one brand caught her interest in our list. So she circled it, she showed it to me right there, this brand name circled in Penn. And she looked into that brand. She did her research, she bought a franchise unit, and now she is a business owner, a very happy business owner. She owns a unit of that travel agency franchise. All because she found a name listed in a magazine. And when she showed that to me, I thought, wow, you know, we make this list every year, and it is easy to think of it as just a giant project, which it is, believe me. It takes us nearly a full year to create annual list. But this list is more than a project. It's a resource, and it can change lives. So, anyway, what is this franchise 500? It is our annual definitive guide to the top franchises, which is to say, the top brands that you could buy into and become a business owner. And what are they? Well, many people associate franchising with restaurants, which is fair. There are a lot of very few famous food franchises in the world, from McDonald's to Dunkin to Popeyes, the list goes on. But you might be surprised to learn how many categories of franchising there are. So many categories. Gyms, home renovation, childhood education, painting, business consulting, on and on and on. You name it, there is a franchise for it, which is to say a business that has developed a system, built a brand, and is looking for great operators who want to buy in and grow. The cost varies widely. Some franchises cost hundreds of thousands of dollars to buy because, you know, there's the cost of setting up the restaurant or other brick and mortar spaces and so on. But some cost only a few thousand dollars because they can be operated out of your home or your car. We look closely at how all those franchises are doing, and this year, more than 1,300 applied to be ranked on our list. We gathered mountains of data about them and evaluated them based on many metrics, from growth to marketing strength to the support they provide their franchisees and more. And we do it so that someone like you can flip through and think which brand is right for me. So how can you begin to do that? Well, it is inside our January issue, which is hitting newsstands now. But the list is also available online right now@entrepreneur.com Franchise500. That's 500 as digits 500Entrepreneur.com Franchise500. And in addition to the list, we produced a ton of valuable stories for you to read, diving into what makes some of the brands on the list so strong and how you can figure out how much money you can make and the important questions to ask as you're researching franchises during this uncertain economy and much more, much more. And you might be wondering, well, who's at the top of the list? And you know what? I'm just going to tell you right here. I will tell you the top 10 right now because it's fun to know and also because the magic of this list is really in the full 500 because it contains so many brands that you might never have heard of, but that might be the opportunity that is right for you. So, okay, you ready for the top 10? Here it is. Number 10, Wingstop. Number 9, Hampton by Hilton. Number 8, Culver's. Number 7, Ace Hardware. Number 6, Kumon. Number 5, Duncan. Number 4, the UPS Store. Number 3, Jersey Mike's. Number 2, Popeyes. And our number one brand for the third year in a row, which is nearly unprecedented. It's only happened two other times, Taco Bell. What made them the 10 strongest brands? We explain that, too, right in the issue. Again, to learn more, pick up the January issue of Entrepreneur magazine or start searching our list now by going to entrepreneur.com franchise500. That's entrepreneur.com franchise500. And hey, if you circle one of the names in that list and then become a franchisee, hang on to that copy of the magazine because one day I hope you'll show it to me.