Tysons Corner, VA (PRWEB) January 23, 2014 - Dogtopia, a national dog daycare, spa and boarding franchise, recently made its debut in Entrepreneur magazine’s Franchise 500®, the world’s first, best and most comprehensive franchise ranking. Recognized by entrepreneurs and franchisors as a top competitive tool of measurement, the Franchise 500® places Dogtopia as the 390th for its exceptional performance in areas including financial strength and stability, growth rate, and system size.
"Being recognized by Entrepreneur’s Franchise 500 is a great honor," said Amy Nichols, CEO of Dogtopia. "We are dedicated to being best-in-class in our industry and believe we have developed a franchise model that truly sets us apart and allows us to set significant growth goals over the next several years."
Since Dogtopia launched in 2002, it has grown to 29 locations with 12 additional currently under development nationwide. The Dogtopia system includes both franchise and company-owned stores and is poised to grow to 400 stores in the US and Canada over the next seven years. Dogtopia is modeled after a child daycare center with inviting colors, play and activities. With pet spending expected to have surpassed $55 billion in 2013, according to the American Pet Products Association (APPA), and over 82 million homes with pets, there is a significant population that could benefit from dog daycare.
"Compiling the Franchise 500® every year gives us the opportunity to share data-driven insights, reflect on areas seeing progress and acknowledge the companies that have risen to the top," says Amy Cosper, VP and editor in chief of Entrepreneur. "Franchises play an important part in economic growth, and the names in the ranking are leading the way with their continued and emerging business success."
The rankings for all 500 companies are determined using an exclusive formula that takes into account objective and quantifiable factors. An independent CPA analyzes all financial data. The most important factors include financial strength and stability, growth rate and size of the system. All franchises are given a cumulative score, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.
Over its 35 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for entrepreneurs. Dogtopia’s position on the ranking reinforces its strength in the industry.
To view Dogtopia in the full ranking, visit http://www.entrepreneur.com/franchise500. Results can also be seen in the January issue of Entrepreneur.
Dogtopia is a national dog daycare, spa and boarding franchise committed to providing exceptional care to canines and their families at its 29 U.S. locations. Dogtopia prides itself on being a place where pets are valued as family and dogs enjoy playtime, spa treatments, and overnight stays in a positive environment. The company was founded by Amy Nichols in 2002 based on the belief that combining a strong vision, a passion for dogs and a second-to-none executive team would lead to success. With that success, Dogtopia began franchising in 2005. Currently, there are 24 Dogtopia franchises and five company-owned locations in operation across the U.S. Dogtopia is poised to grow to more than 400 stores in the US and Canada over the next seven years. Dogtopia is the proud recipient of Inc. 500/5000 List of America’s Fastest Growing Companies (2008-2013), Entrepreneur Franchise 500 (2014), Smart CEO Future 50 (2014) and Franchise Times Next 300 (2013). Visit http://www.dogdaycare.com for more information.
Stacey G. Wynia