July 27, 2010 // Franchising.com // HUNTINGTON BEACH, Calif. – World Franchising Network (WFN) has named Fiesta Auto Insurance, the nation's only insurance and tax preparation franchise, as one of its Top 26 Franchises for Hispanics for 2010. PODER Magazine, the successor to Hispanic Enterprise, published the results in its July 2010 issue.
"It is an honor to be included among an impressive list of franchise companies," said John Rost, founder and CEO of Fiesta Auto Insurance. "This recognition is a testament to our talented franchisees and our commitment to growing with entrepreneurs who want to carry on the Fiesta Auto Insurance tradition of success in markets throughout the country. We look forward to continuing to achieve many more successful benchmarks for years to come."
The WFN developed the list based on a rigorous analysis of several factors, including historical performance, brand identification, franchisee satisfaction, training, on-going support and financial stability. Another important determinant is the percentage of existing franchises that are Hispanic-owned, as well as the number of Hispanics in the franchisor's top levels of management.
"Based on the results of this year's survey, we are extremely pleased to notice both the increase in the number of Hispanic-owned franchisees, as well as the increased Hispanic representation among the top management," added Rob Bond, founder of World Franchising Network. "There is no question that the franchising community is increasingly aware of the economic power and underlying talents within the Latino community. Over time, Latinos will realize their full potential and the playing field will indeed be level. Hopefully, that day is not far off."
With an initial franchise fee of $10,000 and total suggested capital ranging between $30,000 and $50,000, the Fiesta Auto Insurance franchise opportunity provides investors with a low-cost, low-overhead, franchise investment. The company provides the necessary support tools for its franchisees, including marketing, ongoing training and financial reporting. The brand's colorful logo, featuring its animated bird mascot, has helped establish widespread consumer awareness.
Fiesta Auto Insurance is the nation's only franchise system to combine insurance and tax preparation under one roof, providing a one-stop shop for the budget-minded consumer. Beyond auto insurance, Fiesta offers insurance services for watercrafts, motorcycles, homeowners, rentals, condos, apartments, tenant occupied property, commercial auto, commercial property, commercial general liability, Mexico insurance and special event coverage. On the tax side they offer federal and state personal income tax filings, business tax returns, electronic filing and bank products. Fiesta also provides motor vehicle registration services, travel services, wireless services and instant wire money transfers as well as accounting and bookkeeping services.