January 04, 2011 // Franchising.com // HUNTINGTON BEACH, Calif. - Fiesta Auto Insurance was ranked 464 in Entrepreneur's 32nd Annual "Franchise 500," the world's most comprehensive franchise ranking. It's the brands first appearance on the list. The nation's only insurance and tax preparation franchise also ranked 100 in the category of "Top Fastest-Growing Franchises."
"This recognition speaks volumes about our company's accomplishments and viability as an attractive franchise opportunity for today's entrepreneurs," said John Rost, founder and CEO of Fiesta Auto Insurance. "Fiesta Auto Insurance is meeting the growing demand for affordable, high-quality insurance and tax preparation services in rapidly expanding communities across the nation. Being named to a list as prestigious as the Entrepreneur 'Franchise 500' further validates our strength and stability as a franchise system."
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.
"Franchises are not only a great avenue to business ownership for many with a thirsty entrepreneurial spirit, but they're also capable of playing a key role in carrying us into a growing economy," said Amy Cosper, VP and editor in chief of Entrepreneur. "The $153.7 billion in total payroll and 7.9 million jobs they account for speak to that loud and clear, and the ones that made this year's Franchise 500 are a great place for anyone to start their search for the right business."
The only national insurance and tax preparation franchise in the United States is driving growth nationwide as it combines two highly attractive business models under one roof. With nearly 100 locations currently open throughout the United States, Fiesta Auto Insurance is continuing to push its operations to new levels with an aggressive growth plan that calls for more than 1,500 locations to open nationwide during the next five years.
Rost launched the company in 1999 to meet the growing demand for auto insurance within underserved Hispanic and blue-collar communities in Southern California. With an initial franchise fee of $10,000 and total suggested capital between $30,000 and $50,000, the Fiesta Auto Insurance franchise opportunity is available to investors who want to start a new business, or existing independent operators who are interested in converting to Fiesta Auto Insurance. The franchise opportunity provides business owners with lower operating costs and more access to favorable, nationwide carriers as well as name brand recognition and a proven business model.
To view Fiesta Auto Insurance in the full ranking, visit www.entrepreneur.com/franchise500. Results can also be seen in the January issue of Entrepreneur.
Fiesta Auto Insurance is the only national franchise system in the United States 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. For more information on Fiesta Auto Insurance, please visit: www.fiestainsurance.com, www.fiestatax.com or for franchising information: www.fiestafranchise.com.