WICHITA, Kan., July 9, 2018 /PRNewswire/ -- Fast-casual restaurant concept, Freddy's Frozen Custard & Steakburgers®, announced it was recognized by Forbes Magazine as the best franchise to buy in America. The brand ranked number one in the high investment category with a five-year growth rate of 31.3 percent. FRANdata, the research and consulting firm behind the ranking, began with more than 3,200 franchise brands, which were then narrowed down to 60 based on satisfactory longevity, activity and scale.
"We are incredibly proud and humbled to receive this recognition," said Randy Simon, President and CEO. "The ranking analyzed thousands of franchises based on sustainability, demand, investment value, franchisor support and franchisor stability, and to be named as the number one choice for potential franchisees is an incredible honor. At Freddy's, we always put our franchisees first and continuously work with their best interest in mind. This is a true testament to the commitment we have to our franchise owners and we are looking forward to building on this momentum."
The Forbes "Best and Worst in Franchising" list was created from performance and revenue metrics compiled and analyzed by FRANdata, the only research and consulting firm that focuses on studying the comparative performance of franchise brands. FRANdata researched over 3,200 franchise brands and measured them according to five main criteria: system sustainability, system demand, value for investment, franchisor support and franchisor stability. The ranking is comprised of various components including the ratio of sales to initial investment, transparency into franchisees' operating expenses and potential profitability, and the level of support the franchisor provides to franchisees.
This year, Freddy's Frozen Custard & Steakburgers® plans to open more than 40 restaurants nationwide. Franchise opportunities remain in markets across the U.S., including Florida, New Jersey, Pennsylvania, Massachusetts, New York and California. For more information about development opportunities, contact Mark Scholler, vice president of franchise development, or visit www.freddysusa.com/franchising.
Co-founded in 2002 by Scott Redler and Bill, Randy and Freddy Simon, Freddy's opened its first location in Wichita, Kansas, offering a unique combination of cooked-to-order steakburgers seasoned with Freddy's Famous Steakburger & Fry Seasoning®, Vienna® Beef hot dogs, shoestring fries paired with Freddy's Famous Fry Sauce® and frozen custard freshly churned throughout the day. Today, more than 300 Freddy's restaurants serve 31 states across the nation from California to Pennsylvania, Virginia and down the East Coast states to Florida. Freddy's has been named Franchise Times magazine's 2018 Fast & Serious top 10, Entrepreneur's 2018 Franchise 500 top 50, Inc. Magazine's "Fastest-Growing Private Companies" 2017 list and many other nationwide and local industry awards. For more on Freddy's, visit the Newsroom and follow us on Facebook, Twitter and Instagram for the latest news.