Matco Tools recently ranked in Entrepreneur magazine’s Franchise 500. Placement in the Franchise 500 is a highly sought-after honor in the franchise industry, as evidenced by the fact that Entrepreneur received more than 1,000 applications this year, making it one of the company’s most competitive rankings ever. Recognized as an invaluable resource for potential franchisees, the Franchise 500 ranks Matco Tools as 36 for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
“As a world-class franchise system with low startup costs, internal financing and a proven business model, Matco Tools is proud to be included in Entrepreneur‘s Franchise 500 for the 18th consecutive year,” said Ben Gambrel, Matco Tools vice president of marketing.
“This year’s Franchise 500 ranking features both up-and-comers who bring fresh ideas to an ever-changing industry, as well as savvy stalwarts that have thrived for decades. We are proud to highlight and celebrate them all,” says Jason Feifer, editor in chief of Entrepreneur. “Our results show that the industry is strong — and that the most enduring franchisors are those who learn to balance innovation with reliability. That’s how to attract new customers while keeping the old ones happy.”
The key factors that go into Entrepreneur‘s evaluation include costs and fees, size and growth, support, brand strength, and financial strength and stability. All franchises are given a cumulative score based on more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order.
Over its 39 years in existence, the Franchise 500 has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Matco Tools’ position on the ranking is a testament to its strength as a franchise opportunity.