What does it take to make it to the top of the franchising heap in a time of economic pessimism? As Entrepreneur's 32nd Annual Franchise 500® reveals, it's quality accommodations for frugal-minded travelers (complete with free waffles).
The recession mentality has prompted similar innovation and strategic transformation throughout the franchising world--resulting in some shake-ups and surprises to this year's rankings. In addition to a new player being in the No. 1 spot, a familiar competitor is back in the Top 10 -- after a 25-year absence.
Belt-tightening also has sparked a new, smarter focus on giving consumers what they crave: affordable products and services they can't live without, whether that's a value meal for seniors or a luxury massage for less.
And speaking of good and cheap, check out our 10 promising franchises for less than $20,000 (one is less than $3,000), as well as our guide to making them profitable. We also tell you how to craft a stronger disclosure document and how social media can get your franchise more friends.
Shake-ups are good: It means change is happening. And this year, the theme in franchising is change.
- The Outlook for Franchising in 2011
- How I Did It: Three Franchisee Success Stories
- Will I Make Money As a Franchisee?
- 10 Franchises for $20K (Or Less)
- More Fast-Food Franchises Go Lean
- 10 Things I Hate About Your Franchise Disclosure Document
- By the Numbers: The Census Report on Franchises
- Social Climbers: How Franchises Are Using Social Networking