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The Entrepreneur released its 44th Franchise 500 ranking on Tuesday, and it was none other than Taco Bell that topped the list for the third year in a row.
Founded in 1962 by American entrepreneur Glen Bell, Taco Bell has more than 7,700 stores nationwide. With the 2023 honors, Money Plus Investing reports that the popular fast food restaurant is just one of his three holding his number one spot for the third year in a row. I’m here.
But Taco Bell wasn’t the only quick-service restaurant to dominate the media giant’s list. Popeyes Louisiana Kitchen is just behind the Mexican-inspired restaurant chain in second place, followed by Jersey Mike’s Subs in third place.
The UPS store ranked fourth on the list, while Dunkin’ Donuts, another popular American food chain, came in fifth. The top 10 includes education company Kumon (No. 6), Ace Hardware (No. 7), frozen custard and cheese curd maker Culver’s (No. 8), Hampton by Hilton (No. 9), and Wingstop (No. 10). I went in. ).
Given the unprecedented challenges of recent years due to the coronavirus pandemic, Entrepreneur’s ranking shows that QSR brands are still experiencing strong growth. According to Entrepreneur, he has 101 quick service restaurants in the top 500 this year, compared to 97 last year. Additionally, 6 out of the top 10 and 29 out of the top 100 are QSR brands.
“This year’s Franchise 500 ranking not only highlights some of the trends emerging from the ever-changing business environment, but also the consistency as some of the most established and long-standing brands find their way to the top once again. is important,” Entrepreneurial Editor-in-Chief Jason Pfeiffer told Money Plus Investing.
Feifer added that it was “impressive” for owners to welcome the new year and see new businesses thriving despite an unpredictable economy.
According to Feifer, 7.1% of this year’s applicants just started a franchise in 2022, and 27.8% just started a franchise in 2018 or later.
“It’s a lot of fresh ideas and will, in time, be future Franchise 500 ranking holders,” said the managing editor.
The full 2023 ranking looks at the franchise industry and includes various categories such as automotive, health and wellness, financial services, home improvement, pets, accommodations, maintenance and recreation. It also provides insight into changing lifestyles and how businesses evolve to keep up with trends.
According to the publication, it was coffee, sandwiches, smoothies/juices, and tea subcategories that rose in the rankings this year.
Meanwhile, businesses in the health and wellness category, especially sub-categories of assisted stretching, chiropractic services, CBD and eye care, are gaining attention.
In 2023, there will be a total of 78 franchises ranked within the maintenance category, compared to 72 in the previous year. The number of pet franchises has also increased, with 12 franchises on the list compared to 8 in 2022.
The Entrepreneur’s Franchise 500 ranking has been around for 44 years and has become both a franchisor’s primary competitive indicator and a potential franchisee’s primary research tool.
Entrepreneur has helped leaders start, run and grow their ventures through Entrepreneur magazine, titles from publisher Entrepreneur Press, and content published on Entrepreneur.com and GreenEntrepreneur.com.
To view full rankings, please visit www.entrepreneur.com/franchise500. The Franchise 500 results can also be seen in his January/February 2023 issue of Entrepreneur, available on newsstands this month.
Source: Taco Bell /Mega / Money + Investing / TMX
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