Floor Coverings International 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. The highly competitive ranking is recognized as an invaluable source for those seeking to buy and own a franchise.
“We are honored to appear on this prestigious list for the 12th year in a row,” said Tom Wood, president and CEO of Floor Coverings International. “Even more so since we are No. 1 in Category this year. We also feel good about growing in spite of the most challenging business climate in decades. Our franchisees get the credit for following all protocols for COVID-19 and providing comfortable environments for the many homeowners who decided to make significant upgrades to their homes. Now their homes have become offices, schools, playgrounds for their kids and much more. Our newest programs assisted our franchisees and their Design Associates in multiple requests for home improvements. We also added 30 new franchisees despite all the hurdles.”
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.
To view the full ranking, visit www.entrepreneur.com/franchise500.