LOUISVILLE, KY--(Marketwire - Nov 1, 2011) - The Louisville Business Journal ranked FranNet, a North American network of franchise consultants, 12th in its "Fast 50" list of the Louisville area's fastest growing businesses.
The business publication held its annual awards luncheon Oct. 27 at the Kentucky International Convention Center before a record crowd of more than 600. FranNet, based in Louisville, recently made INC Magazine's list of the top 500 fastest-growing companies in America as well, having posted 792 percent revenue growth over the last three years and record 2010 revenue.
"In a down economy, franchise opportunities are some of the best business opportunities available for skilled professionals who have lost their jobs or decided to leave corporate America," said FranNet President and COO Jania Bailey. "FranNet has been able to grow quickly over the last three years because it meets a need in the marketplace for good, viable, long-term business options."
FranNet uses a network of consultants in more than 70 American and Canadian markets to help talented professionals move into small business ownership through franchising. The company, a franchise business itself, evaluates clients' needs and aspirations and matches them with the best franchise opportunities. FranNet offers its services for free.
"We expect our final numbers to show that 2011 was another record year for FranNet," Bailey said. "We'll help open more than 500 new franchise businesses this year, and when you realize that each new franchise creates an average of 10 new jobs, that's a significant benefit to the economy."
To be eligible for the Fast 50 award, companies had to average at least $1 million in revenue for the three most recent years; operate within the greater Louisville area; and have a three-year operating sales history. This was the 12th year for the Fast 50 program.
For nearly 25 years, FranNet, based in Louisville, Ky., has been one of North America's leaders in matching franchisees with franchise companies. FranNet consultants use a specific profiling and consultative process to determine a business model unique to each client's goals, skill sets and interests, and have matched thousands of happy entrepreneurs to rewarding small business opportunities.