CarePatrol Ranked In Entrepreneur’s 42nd Annual Franchise 500®
February 02, 2021 // Franchising.com // Phoenix, AZ - CarePatrol announces their first ever ranking in Entrepreneur magazine’s Franchise 500. CarePatrol is ranked 498 on the list.
The Franchise 500 has become a competitive measure for franchisors as well as a primary research tool for potential franchisees. CarePatrol’s position on the ranking is a testament to its strength as a franchise opportunity.
“We are incredibly honored to have CarePatrol recognized within such a respected list,” said J.J. Sorrenti, CEO of Best Life Brands, parent company to CarePatrol. “Given all the obstacles our entire franchise system had to overcome due to the pandemic, this ranking is a testament to the strength of our business model, and the resiliency of our franchisees. This sets us up for continued growth to help even more families find the right care solutions for their loved ones.”
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,” says 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.”
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