The Entrepreneur’s 44th Annual Franchise 500 list is out. The Entrepreneur ranks the franchises based on a few criteria, The list provides a thorough assessment of the state of the franchise industry as it transitions from the most difficult days of the epidemic into uncertain economic conditions—and nevertheless keeps going strong—thanks to this year’s record-breaking number of applicants. Whether you’re looking for a franchise opportunity with a well-established brand or want to jump on the newest developing trend, there’s something here for every potential franchisee.
As compared to the rankings in Franchise 500 2022, Taco Bell has retained its first position as the Top franchise. The UPS Store has switched its position from first to fourth and Dunkin’ emerged in the fifth position. The brand new additions to the 2023 top ten list are Ace Hardware, Hampton By Hilton, and Wingstop.
The Entrepreneur ranks franchises by viewing the metrics such as costs and fees- franchise fee, total investment, royalty fees; support, and Size and growth of the franchise in the previous year.
Here are the TOP TEN Franchises To Buy in 2023:
1. Taco Bell
Taco Bell is the largest Mexican cuisine franchise chain running successfully on a global stature. The franchise is a part of the Yum! Brands, Inc. The Yum! Brands Inc. owns over 43,00 restaurant locations across 135 nations and territories. The brand also holds ownership of several other well-known franchises.
Founded in 1962, Taco Bell began franchising in 1964 and has grown ever since. The franchise is run by Chief Executive Officer, Mark King.
The following worldwide regions are available to prospective franchisees of this business: Central America, Canada, South America, the Middle East, Australia/New Zealand, Asia, and Europe (Western)
Find more information on Taco Bell Franchising Opportunities, here: Start a Taco Bell Franchise in 2023 – Entrepreneur
2. Popeyes Louisiana Kitchen
Ranked #3 in 2022, Popeyes Louisiana Kitchen has secured #2 for the 2023 list of Franchise 500. With over 3,851 units and counting, Popeyes has gone global. The franchise was founded in 1972 and has dedicated its service to consumers with the best-fried chicken and fast-food restaurant chains in the United States.
Popeyes Louisiana Kitchen, one of the top fast-food restaurants in the U.S., makes it a point to provide delectable quick food to entice customers to return for more.
The franchise belongs to the parent company- Restaurant Brands International and is headed by Sami Siddiqui as the Presdient.
For more information on Popeyes franchising opportunities, visit here: Popeyes
3. Jersey Mike’s Subs
Jersey Mike’s Subs is a fast-casual sub sandwich chain with more than 2,300 stores worldwide. With the same recipe, it began in 1956, Jersey Mike’s provides a Sub Above, delivering genuine fresh sliced/fresh grilled subs on freshly baked bread.
Jersey Mike’s has received innumerable accolades and recognition from QSR Magazine as the “Fastest-Growing Fast-Food Chain In America” in 2022. Followed by this, The franchise was named the fastest-growing sandwich chain and one of the nation’s biggest restaurants #35 in the 2022 Nation’s Restaurant News Top 500.
Jersey Mike’s Subs has been in the limelight for four consecutive years. Being in the franchise industry for about 37 years, Jersey Mike’s Subs has proved to become one of the most successful franchises. Peter Cancro, Chief Executive Officer, and the team at Jersey Mike’s Subs are to be congratulated for their dedication and commitment
For more information on Jersey Mike’s Subs, Visit here: Sub Sandwich Franchise Opportunity – Introduction – Jersey Mike’s Subs (jerseymikes.com)
4. The UPS Store
The UPS Store owned by United Parcel Service has fetched #4 on the list of Franchise 500 for 2023. Founded in 1980, this San Diego -based franchise has emerged to be one of the most successful franchises in the U.S. The company is headed by Sarah Casalan Bittle as the Presdient.
The franchise specializes in postal and business centers, Retail business, and shipping services.
For more information on The UPS Store, Visit here: Franchise Business | The UPS Store (theupsstorefranchise.com)
Bill Rosenberg established The Open Kettle in Quincy, Massachusetts, in 1948. In 1950, Rosenberg changed the company’s name to Dunkin’ Donuts, and seven years later he began franchising. Locations of what is now known as Dunkin’ (no Donuts) are known for their donuts, bagels, coffee, and breakfast sandwiches.
Dunkin has a strong national and global presence with over 40,000 franchises across the globe. Inspire Brands is the parent company of the brand and the Chief Executive Officer for the brand is Paul Brown.
For more information on Dunkin’, Visit here: Dunkin Brands is now Inspire Brands | Dunkin’ Brands
Kumon Institue Education Co.Ltd. is an educational network founded by Toru Kumon in the year 1954. The main feature is his Kumon Method to teach mathematics and reading primarily to young students. This is one franchise option that is emotionally as well as financially rewarding.
The company started franchising in 1958. Having over 26,000 franchise units, only 6 percent of its units are located in the United States. Despite this, Kumon has managed to hold its position in the top franchising entities for three years.
The franchise is headed by Chief Executive Officer, Mino Tanabe.
To Know More about Kumon Institue Education Co.Ltd. Franchising details, visit here: Tutoring & Education Franchise Opportunities – Kumon (kumonfranchise.com)
7. Ace Hardware
The business was founded in 1924, and more than 50 years later, in 1976, it began franchising. With more than 4,400 franchised stores, it currently has a substantial presence in the US. It has more than 800 franchises worldwide, where it is very widely distributed.
Most Ace Hardware franchises are privately owned businesses. Since the businesses are locally owned and run, most of the patrons are close friends, neighbors, and members of the same community.
For many years, Ace Hardware has consistently placed well on lists of the Fastest-Growing Franchises, Top Global Franchises, and Entrepreneur’s Franchise 500. The franchise is being headed by John Venhuizen, Chief Executive Officer.
To know more about the franchising opportunities with Ace Hardware, visit here: Open a New Ace | Hardware Opportunities With Ace | MyAce
Culver’s is a fast-casual restaurant chain popular in the U.S. The owner-operator restaurant model is used by Culver’s. The business is built around four guiding principles: friendliness, quality, freshness, and community service. Every Culver’s franchisee is required to make sure that every customer is satisfied. Since the first Culver’s restaurant opened in 1984, the chain has expanded to more than 750 locations across 25 states.
Rick Silva is the Chief Executive Officer of Culver’s.
To know more about the franchising opportunities with Culver’s, visit here: Franchise Opportunities | Own a Culver’s Restaurant Franchise (culvers.com)
9. Hampton By Hilton
Hampton owned by Hilton is the only franchise from the hospitality segment that could make it to the top ten of the Franchise 500. One of the top hotel chains in the United States is Hampton by Hilton, often known as Hampton Inn & Suites. There are more than 2,200 Hampton by Hilton franchisees in the United States, more than 50 in Canada, and more than 250 worldwide.
Franchising since 1983, as of 2022, the franchise has 2,824 units worldwide.
Christopher Nassetta CEO is the lead executive for the franchise.
To know more about the franchising opportunities with Hamtop By Hilton, Visit here: Start a Hampton by Hilton Franchise in 2023 – Entrepreneur
Wingstop is a fast-casual restaurant chain known for its wings and fries. Wingstop opened as a little buffalo wing restaurant in 1994 and started franchising in 1998. Officially, one billion wings were served in 2002. Along with over 100 locations abroad, the corporation has more than 1,200 franchises across the United States.
Wingstop has made it to the top 10 for the first time in 2023. Started in 1994, Wingstop is currently being run by Michael Skipworth, Chief Executive Officer. With 25 years of experience in the franchising industry, the franchise has 1,873 units successfully running in the United States.
To know more about the franchising opportunities with Wingstop, Visit here: Franchise With the Wing Experts! | Wingstop
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