Since 1980, Entrepreneur has been ranking franchises in the US or Canada. This year, 1,094 companies submitted their application and only 500 made it to the list.
… 1,094 companies submitted their application and only 500 made it to the list.
Entrepreneur collected over 150 data points and scored the franchises in five key areas: Costs & fees, size & growth, support, brand strength and financial strength & stability. The franchises are then ranked based on their cumulative scores.
The top ten franchises in the US and Canada this year are:
- Sonic Drive-In
- Taco Bell
- The UPS Store
- Planet Fitness
- Great Clips
- Jersey Mike’s Subs
- 7-eleven Inc.
Of the ten, three of them have a presence in Singapore, namely McDonald’s, Dunkin’ and 7-eleven.
Many critics cited price and [Taco Bell’s] inability to understand the local market as factors for their exit.
Curiously, despite its popularity, Taco Bell operated in Singapore for nine years before pulling out of the local market in 2008. Many critics cited price and their inability to understand the local market as factors for their exit.
So if you do wish to own a franchise business but don’t want to run yet another McDonald’s, Dunkin’ or 7-eleven, consider other brands with no presence in Singapore and make sure to operate it with the locals in mind.
View the Franchise 500 Rankings for your next franchise idea.