January 20, 2008 // Franchising.com // Logan, Utah, N-Hance, a wood floor and cabinet renewal system franchise, has been named the leading franchise opportunity for home improvement and miscellaneous services in Entrepreneur Magazine's annual Franchise 500 rankings. N-Hance beat-out 31 franchises in its category based on several quantifiable measures of franchise operations. In all, the home improvement category is divided into seven sub-categories, including building, decorating, siding, furniture.
"The strong showing is a direct result of the success of N-Hance franchise owners, our continuous growth and our organization's capabilities," said Craig Donaldson, CEO of N-Hance. "In the last year, the interest in home improvement franchises has exploded as consumers look for smart alternatives to expensive replacement; we are one of the pioneers in wood floor and cabinet renewal and our successes reinforce our ranking."
Started in 1980, the Top 500 ranking is published in the January issue of Entrepreneur Magazine. Using a proprietary formula, franchises are evaluated on objective, quantifiable measures of operation. Key factors are audited, including financial strength and stability, growth rate, size of the system, number of years in business, length of time franchising, startup costs, litigation, percentage of terminations and whether the company provides financing. Franchises are then ranked by a cumulative score. For more information about Entrepreneur Magazine's Top 500 ranking, go to www.Entrepreneur.com.
"We have worked hard to start a franchise that is acessable to the right small business owners," notes Bernie Brozek, brand unit manager, N-Hance. "Our strong showing in relation to the wide range of measured variables means that franchise owners see value in our core principles and view a N-Hance franchise as a top performer."
Finishing 29 out of 500, Chem-Dry earned first chair in the carpet and upholstery cleaning category. N-Hance and Chem-Dry are wholly-owned subsidiaries of Home Depot; the craftsmen who renew the wood floors and cabinets or clean carpet and upholstery are independent franchise owners. In the near future, Chem-Dry's commercial sales team will be cross-selling wood floor care to existing national-account customers.
N-Hance is a wood floor, cabinet and built-in woodwork renewal system that produces like-new luster without the waste, mess and overwhelming odors of harsh chemicals or expense of traditional sanding and refinishing.
For most homeowners the replacement of floors and cabinets is unnecessary. Over the years, dirt build-up and age-discolored finishes make wood look flat and lifeless. The N-Hance process thoroughly cleans the surface; repairs damaged areas and applies an elegant, durable and protective finish.
Single and multiple franchise opportunities are available from N-Hance; each franchise covers an exclusive territory. N-Hance has developed a program that offers personalized support and templates designed for success.