The next time you open your wallet, remember that one out of every three dollars you are carrying is likely to be spent on products or services of a franchised company. There are more than 400,000 of them in the United States, and these firms account for nearly one-third of all retail sales. -Entrepreneur's 1st Annual Franchise 500®, March 1980
It seems there's nothing new under the sun. And the only constant in life is change. Over the past 20 years, franchising has seen its share of constancy-and of change. We realized back in 1979 just how monumental this marketing concept called franchising could be. And we took a leap of faith, inventing a ranking concept called the Franchise 500®.
On the 20th anniversary of our highly celebrated Franchise 500®, we've taken time to reflect on how much has really happened since our humble beginnings. Here, some excerpts from our first Franchise 500® issue, with a flash forward to 1999: