Matco Tools recently ranked in Entrepreneur Magazine’s Franchise 500, the world’s 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 No. 37 for its 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,” said 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,” said Ben Gambrel, vice president of marketing at Matco Tools. “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 believes its position on the ranking is a testament to its strength as a franchise opportunity.
To view Matco Tools in the full ranking, visit entrepreneur.com/franchise500. Results also can be seen in the January/February 2019 issue of Entrepreneur, available on newsstands Jan. 15.