360° Painting Named Top Painting Franchise for Second Consecutive Year
Entrepreneur magazine’s annual Franchise 500® also ranks 360° Painting No. 265 overall
January 14, 2019 // Franchising.com // CHARLOTTESVILLE, Va. - 360° Painting is again one of the top franchises in the world, securing the No. 1 painting franchise distinction on Entrepreneur magazine’s 40th annual Franchise 500® list, as well as the No. 265 ranking overall.
Up 115 spots since its debut ranking in 2017, this is the third straight year 360° Painting has been ranked on the coveted list and second consecutive year the company has been awarded best in category.
“In today’s market, where people are constantly remodeling and redecorating their homes and businesses, the painting industry continues to grow. We’ve successfully tapped into this growing market and have quickly established ourselves as the top painting franchise in the business,” said Paul Flick, Founder and CEO of 360° Painting. “This recognition is a true testament to the dedication of both our corporate team and our franchisees, and further validates our continued efforts to deliver premier painting services to consumers while helping local businesses achieve success.”
Placement in the Franchise 500® is a highly sought-after honor in the franchise industry, as evidenced by the fact that Entrepreneur received more than 1,000 applications this year, making it one of the company’s most competitive rankings ever. The key factors that go into the evaluation include costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.
“As we celebrate 40 years of producing the Franchise 500, it’s a good opportunity to step back and look at how much has changed since that first ranking in 1980,” said Jason Feifer, editor in chief of Entrepreneur. “While the franchise business model has changed little, the strongest franchise brands are constantly evolving and innovating to keep up with changing trends and technology.”
Founded in 2005 and franchising since 2006, 360° Painting prides itself as the go-to resource for all things commercial and residential painting - Residential Interior & Exterior Painting, Commercial Painting (i.e. commercial properties, homeowners associations, shopping centers, universities, schools, offices, restaurants, hospitals, municipal buildings, and more), Deck Painting & Staining, Fence Painting & Staining, Concrete Staining, Garage floors and other property services.
Today, 360° Painting’s network has grown to include 111 franchisees in 34 states and two Canadian provinces. Looking ahead to 2019, 360° Painting plans to focus its attention on multi-unit expansion and Flick expects as many as 40 new franchisees to join the brand by the end of the year.
“In the fractured home-improvement market, working with an established and recognized franchise like 360° Painting gives small business owners the power to outpace their competition,” added Flick. “It’s been an exciting few years and we look forward to the continued growth of our franchise system.”
Including a franchise fee of $60,000, the initial investment to open a 360° Painting franchise ranges from $76,655 to $123,700. Each franchisee owns an exclusive territory with a minimum of 30,000 households with incomes over $75,000 per year and at least 300,000 in population.
The full 2019 Franchise 500® ranking was published in Entrepreneur’s January/February 2019 issue and can be found online at www.entrepreneur.com/franchise500.
About 360° Painting
Founded in 2005 and franchising since 2006, 360° Painting is one of four major brands that fall under Premium Service Brands’ diverse portfolio of home services franchise systems. With more than 100 franchisees in 34 states and two Canadian provinces 360° Painting is one of the nation’s fastest-growing residential and commercial painting franchises. The franchise has been featured in Inc. magazine’s Inc. 500/5000 and has been recognized by Entrepreneur magazine’s annual Franchise 500® ranking as the top painting franchise for two consecutive years (2018 & 2019). For more information, visit www.360painting.com.
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SOURCE 360° Painting