June 12, 2012 // Franchising.com // FranNet, North America’s most respected leader in matching budding entrepreneurs with franchise businesses, named Jack Armstrong chief executive officer and chairman of the board today. The company also announced that Blair Nicol has been elevated to vice-chairman of the board after previously serving as a member.
Armstrong joined FranNet in 1995 and is president of the FranNet office in New Jersey, one of the company’s franchised offices. In 2006, he led a group of investors to buy FranNet from its previous ownership. Under Armstrong’s ownership, the company has seen record-breaking growth more than doubling the number of FranNet associates across the country and increasing revenue nearly 900 percent.
“We’ve experienced incredible, sustainable growth as a company and I’m extremely proud of what the entire organization has accomplished,” said Armstrong. “And as we position FranNet for the future, we’ll continue to be the aggressive leader in our industry. It is our goal to make FranNet the best company with which to be associated for the franchisees, employees and franchisors. It’s an honor to be named CEO and lead this very dedicated group of business professionals.”
Armstrong has an accounting degree and an MBA in finance from Pace University (N.Y.), where he did his thesis on franchising. The International Business Brokers Association also awarded him the prestigious designation of Certified Business Intermediary.
Nicol, owner of FranNet of Orange County and San Diego, is a 14-year veteran with FranNet. He graduated from Colorado State University with a degree in finance and real estate. Nicol holds the premier designation in the franchise industry as a certified franchise executive.
Steve Rosen stepped down as CEO and chairman of the company’s board last week. He served in his executive capacity since 2006.
FranNet is North America’s most respected leader in matching individuals with franchise opportunities. Based in Louisville, Ky., FranNet has more than 85 consultants across its network who use a proprietary profiling and consultative process to determine a business model unique to each client’s goals, skill sets and interests, and have matched thousands of entrepreneurs to rewarding small business opportunities. Recognized by INC magazine as one of the top 500 fastest growing private companies in America in 2011 and 2010, this year marks the 25th anniversary for FranNet.