IRVINE, Calif., Jan. 6, 2016 /PRNewswire/ -- Entrepreneur magazine's 37th annual Franchise 500® announces Jimmy John's Gourmet Sandwiches as the all-new number-one business in the ranking. This is the first time the "freaky fast" sandwich shop chain has secured the top spot. Hampton by Hilton, Supercuts and Servpro follow as second, third and fourth in the ranks, respectively.
The 2016 Franchise 500® encompasses 462,585 individual businesses—up more than 16,000 units from last year—across 17 different categories. Four out of the top 10 spots in the listing are within the quick-service food sector, and for the first time since 2010 a category member has reclaimed the number-one position. The most growth this year can be seen in the maintenance category, thanks to its low cost of entry; the hotels and motels category, with its sound economics and stellar corporate oversight; and home improvement, which is thriving as homeowners invest in their properties once again, post-recession.
"There's a business for everyone on the Franchise 500®, whether you want to run with a newer concept or stick with a tried-and-true name," says Amy Cosper, VP and editor in chief of Entrepreneur. "A franchise that is run well is the key to success, and those in the ranking have a strong foundation that can survive in a changing marketplace. They can be excellent opportunities for entrepreneurial leaders ready to take on their next venture."
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.
In addition to the ranking, Entrepreneur's annual Franchise 500® issue takes a closer look at the top 10 companies, as well as other notable names making their mark on the franchise world. The robust feature is also packed with insights on the current market, including how to develop a company culture among disparate franchisees and staff, new ways big data can empower companies, a discussion about minimum wage, leaders who have overcome disasters, the best and worst marketing campaigns of 2015, and more.
To view the full ranking and any of these related stories, pick up a copy of the January 2016 issue of Entrepreneur magazine on newsstands now, or visit www.entrepreneur.com/franchise500.
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SOURCE Entrepreneur magazine