Fibrenew Ranked Among 2024’s Top Franchises in Entrepreneur Magazine’s Highly Competitive Franchise 500®
Fibrenew was recognized as one of the top 500 franchises in the 2024 edition of Entrepreneur’s Franchise 500®, the world’s first and most comprehensive franchise ranking. For 45 years, the annual Entrepreneur Franchise 500® has been a highly sought-after honor in the franchise industry and recognized as an invaluable resource for potential franchisees. The 2024 Franchise 500® ranks Fibrenew as #207 for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
“Every brand on the Franchise 500 has its own unique story, but they all collectively make the same statement: Franchising is strong and resilient, is full of innovation and opportunity, and provides a powerful entrepreneurial path for many people,” says Jason Feifer, editor in chief of Entrepreneur magazine. “Our 45th annual ranking is full of companies with fresh ideas, exciting business models, cultural sway, and the kind of business sophistication that will define the next 45 years and beyond.”
In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s ranking formula continues to evolve as well. The editorial team researches and assesses several factors, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is then given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranked order.
“We are happy to have a place in the Franchise 500® rankings again this year. Some elite company is on the list, and we’re honored to be included. It speaks to our team’s dedication to growing Fibrenew, and making it the best it can be”, says Jesse Johnstone, Fibrenew’s President.
Over its 45 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Fibrenew’s position on the ranking is a testament to its strength as a franchise opportunity.
To view Fibrenew in the full ranking, visit http://www.entrepreneur.com/franchise500 or pick up a copy of the January/February 2024 issue of Entrepreneur on newsstands now.
