STOW, Ohio, Jan. 18, 2019 /PRNewswire/ -- Matco Tools recently ranked in Entrepreneur Magazine's Franchise 500®, the world's first, best and most comprehensive franchise ranking. Placement in the Franchise 500® is a highly sought-after honor in the franchise industry, as evidenced by the fact that Entrepreneur received more than 1,000 applications this year, making it one of the company's most competitive rankings ever. Recognized as an invaluable resource for potential franchisees, the Franchise 500® ranks Matco Tools as #37 for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
"As we celebrate 40 years of producing the Franchise 500, it's a good opportunity to step back and look at how much has changed since that first ranking in 1980," says Jason Feifer, editor in chief of Entrepreneur. "While the franchise business model has changed little, the strongest franchise brands are constantly evolving and innovating to keep up with changing trends and technology."
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.
"Matco is honored to receive this award! This is our 19th year in a row ranked in the Top 50 by Entrepreneur Magazine's Franchise 500 ranking," says Ben Gambrel, V.P. of Marketing at Matco Tools. He added, "We feel it is fitting that Matco Tools is celebrating 40 years in business as 2019 also marks the 40th year for the Franchise 500 rankings. This is a testament to all Matco employees who work so hard to ensure each franchisee realizes the dream of successful business ownership."
Over its 40 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Matco Tools' position on the ranking is a testament to its strength as a franchise opportunity.
To view Matco Tools in the full ranking, visit www.entrepreneur.com/franchise500. Results can also be seen in the January/February 2019 issue of Entrepreneur, available on newsstands January 15th.
About Matco Tools Since 1979, the mission of Matco Tools has been to provide professional mechanics and auto enthusiasts with all the premium tools, storage and equipment they need to get the job done, while also offering best-in-class service and customer support. The company's network of nearly 1,800 premier independent mobile franchise distributors are focused on developing and maintaining trust-based relationships with its customers. Ranked among the top 50 in Entrepreneur magazine's 2019 Franchise 500®, the company continues to expand throughout the United States and Canada, adding several hundred mobile stores each year. For more information, please visit https://www.matcotools.com/franchise/.
SOURCE Matco Tools