CHILLICOTHE, Ohio, Jan. 26, 2021 /PRNewswire/ -- Petland 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 making it one of the company's most competitive rankings ever. Recognized as an invaluable resource for potential franchisees, the Franchise 500® ranks Petland as 171 for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
"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."
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.
"We are honored to once again be ranked as a top franchise by Entrepreneur Magazine. Throughout this pandemic, the demand for all pets has been strong. We know pets bring comfort, companionship, and make our lives better," said President and CEO Joe Watson. "At Petland, we focus on finding homes for pets and selling pet supplies. The human-animal bond is at the core of who we are and what we do. While 2020 has been a challenging year for many reasons, demand for pets and supplies has provided Petland stores around the world with the opportunity to find success. People love pets and our customers love Petland."
Over its 42 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Petland's position on the ranking is a testament to its strength as a franchise opportunity.
Petland, Inc.'s Vice President of Business Development Steve Huggins stated, "Our consistent ranking in the Franchise 500 is a huge testament to our diligent and tireless group of franchisees and the success of our company store division. And it validates not only the strength of our operating system, but also the demand for what we do."
To view Petland in the full ranking, visit www.entrepreneur.com/franchise500. Results can also be seen in the January/February 2021 issue of Entrepreneur, available on newsstands January 26th.
Petland, Inc. is a specialty pet retail franchise operation with 246 locations, 150 of which are international. Stores are located in Canada, Brazil, China, El Salvador, Mexico, South Africa and Saudi Arabia. Of the domestic locations, 75 are franchises and 21 are company-operated.
For more than 50 years, Petland Pet Counselors have been dedicated to matching the right pet with the right customer and meeting the needs of both. To its customers who already have pets, Petland is dedicated to enhancing their knowledge and enjoyment of the human-animal bond.
Petland was founded in 1967 and is headquartered in south central Ohio. For more information on Petland, visit www.petland.com.
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