January 15, 2016 // Franchising.com // Livonia, Michigan – Pet Supplies Plus was recently ranked at 200 in Entrepreneur magazine’s Franchise 500®. With world-wide recognition by entrepreneurs and franchisors as a top competitive tool of measurement, the Franchise 500® commends Pet Supplies Plus for its exceptional performance in areas including financial strength and stability, growth rate, and system size.
“This ranking exemplifies the success we have achieved in 2015. As the nation’s largest pet franchise with more than 330 locations in 26 states, we are honored to be ranked in the Top 500 by Entrepreneur,” said David Leonardo, Senior Vice President - Franchising. “We look forward to building on our accelerated momentum by opening more than 30 new locations and expanding into new territories in 2016, including the California market.”
Pet Supplies Plus is a stand-out in the fast-growing pet retail sector. Offering a wide selection of food, toys and pet products including natural foods, and an extensive assortment of Made-in-the USA pet consumables, the store’s culture is focused on making it easier to get better products for pets. With 62 percent of Americans serving as pet owners, the pet care industry currently accounts for more than $60 billion in annual consumer spending, according to the American Pet Products Association.
The strong general consumer appeal combined with the proven Pet Supplies Plus operating model, creates a unique investment opportunity for single and multi-unit franchise partners. The 27-year-old pet retailer signed a total of 18 franchise deals for 26 units in 2015.
“Every year, the Franchise 500® presents us with an incredible opportunity to share data-driven insight into the trends and strategies in the franchise world,” says Amy Cosper, VP and editor in chief of Entrepreneur. “More importantly, it gives us the honor of celebrating its leaders and allows us to spotlight an overwhelming number of opportunities available to entrepreneurs. The franchises distinguished on this list represent strength in business showcasing their ability to be nimble and emerge in a changing marketplace. We are excited to recognize these deserving companies and thank them for the many ways they contribute to the business community.”
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.
Over its 37 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for entrepreneurs. Pet Supplies Plus’ position on the ranking reinforces its strength in the industry.
To view Pet Supplies Plus in the full ranking, visit www.entrepreneur.com/franchise500. Results can also be seen in the January issue of Entrepreneur available now on newsstands.
With more than 330 locations in 26 states, Pet Supplies Plus has earned the reputation as America’s Favorite Neighborhood Pet Store by offering a wide array of pet food, pet products, grooming services and animal expertise in a welcoming environment. With a friendly, pet-centered culture, where store managers and associates actually know the names of hundreds of their pet customers and their pet parents, each Pet Supplies Plus is large enough to house a broad selection of food and equipment, yet small enough to still feel neighborly. Headquartered in Livonia, MI., Pet Supplies Plus earned its success by understanding the unique bond between humans and their pets, while championing the conviction that ‘People Don’t Own Pets, Pets Own People.’ Pet Supplies Plus is ranked in Entrepreneur magazine’s Annual Franchise 500® list as the Top Full-Service Pet Supplies Franchise for its exceptional performance in areas including financial strength and stability, growth rate, and system size. For more information visit www.petsuppliesplus.com/franchise.
SOURCE Pet Supplies Plus
Fishman Public Relations