January 11, 2008 // Franchising.com // CHARLOTTE – PRstore (www.prstore.com) has been ranked among Entrepreneur Magazine's 500 top franchises for 2008, according to the publication's January issue. It is the first time the retail marketing firm designed to serve America's small business owners has been included in the prestigious national ranking.
According to Entrepreneur's editors, the most important factors in selecting the 500 top franchises include financial strength and stability, growth rate and size of the system. The publication also considers the number of years a company has been in business and the length of time it's been franchising, startup costs, litigation, percentage of terminations and whether the company provides financing.
Financial data is analyzed by an independent CPA. "This recognition by Entrepreneur magazine underscores the impressive growth of our system and market success PRstore is enjoying," Daniel S. Fragen, CEO of PRS Franchise Systems, LLC, said. "We intend to become a recognized national brand that will meet all the marketing needs of America's small businesses." Entering the rankings at 485, PRstore is a walk-in marketing firm operating in retail locations to address the unique needs, time constraints and budget of America's small business owners. No appointment is needed to access PRstore's expert advice, creative services and marketing products which range from brochures to web sites, direct mail, newsletters, radio and TV spots and more.
A national franchise launched in 2001, there are currently 42 PRstores in operation or build-out in 19 states stretching from New York to Honolulu. More than 350 stores are expected to be in operation in the next five years in high-traffic retail areas around the country.
In an article accompanying the 2008 Franchise 500 list, Entrepreneur editors say the list comes from nearly three decades of researching, surveying, compiling, analyzing and cataloging information on thousands of franchises. Entrepreneur received what it described as "an overwhelming response" to its survey from more than 800 franchise companies with over 436,250 units across the globe. The companies that ranked in the Franchise 500® earned $305 billion in revenue worldwide.