MY SALON Suite Ranked Among Top Franchises In Entrepreneur’s Highly Competitive Franchise 500®
January 07, 2022 // Franchising.com // CARROLLTON, TX - MY SALON Suite®, a salon suite franchise that focuses on providing stylists and beauticians a personal space to build their business and the beauty industry’s future, was recognized as one of the top 500 franchises in Entrepreneur’s Franchise 500®, the world’s first, best and most comprehensive franchise ranking. The 43rd annual Entrepreneur Franchise 500® is a highly sought-after honor in the franchise industry. Recognized as an invaluable resource for potential franchisees, the 2022 Franchise 500® ranks MY SALON Suite as 62 for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
Over its 43 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees.
“Being included on Entrepreneur’s Franchise 500 list is an honor and validates the efforts of our MY SALON Suite family,” said Ken McAllister, the co-founder and CEO of MY SALON Suite. “Having our brand, once again, earn a place on this prestigious list demonstrates the strength of our concept and the dedication of our superior staff and hardworking franchisees as we continue to grow.”
In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s 43-year-old ranking formula continues to evolve as well. The editorial team researches and assesses several factors that go into the evaluation, including 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.
“The past year has been one of the most challenging for businesses in recent memory, which made putting together our 43rd annual Franchise 500 list more enlightening than ever,” says Entrepreneur Editor in Chief Jason Feifer. “The companies named to this year’s list showed us how being resilient, supportive, and nimble can help navigate extraordinary challenges and also underscore the grit and innovation that define entrepreneurship.”
Results can also be seen in the January/February 2022 issue of Entrepreneur, available on newsstands January 11th.
SOURCE Suite Management Franchising®
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