Five Star Painting® Ranked in Entrepreneur’s Highly Competitive 42nd Annual Franchise 500®
Company improves ranking from 475 to 234 in 2021 ranking
February 01, 2021 // Franchising.com // WACO, Texas - Five Star Painting, a Neighborly company, recently ranked 234 overall in Entrepreneur magazine’s Franchise 500®, the world’s first, best and most comprehensive franchise ranking. Recognized as an invaluable resource for potential franchisees, the Franchise 500® selected Five Star Painting for its outstanding performance in areas including unit growth, financial strength and stability and brand power.
“Placement in Entrepreneur’s annual Franchise 500® is such a highly sought-after honor in the franchise industry, and Five Star Painting is honored to have been included in this prestigious list,” said Matt Kunz, President of Five Star Painting. “Given all the obstacles we had to overcome in 2020, being recognized as a top franchise opportunity feels better than ever and sets us up for continued growth and success in the new year.”
In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s 42-year-old ranking formula continues to evolve as well. 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.
“2020 was a challenging year for everyone, but it was also a year of unusual opportunity,” said Jason Feifer, Entrepreneur editor-in-chief. “Franchises were able to be nimble and innovative, serving the needs of franchisees and customers in ways that will resonate for many years to come. We believe that, when we eventually look back on this time, we’ll see it as a moment when many brands defined themselves for the future.”
Five Star Painting is one of 16 Neighborly brands to be included in this year’s Franchise 500 ranking. Other Neighborly brands on the 2021 list of top franchises include: Molly Maid, Mosquito Joe, Mr. Appliance, Mr. Rooter Plumbing, Aire Serv, Real Property Management, Mr. Electric, Mr. Handyman, ShelfGenie, Rainbow International Restoration, Glass Doctor, The Grounds Guys, HouseMaster, Precision Door Service and Window Genie.
SOURCE Five Star Painting®
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