Padgett Business Services One of Top 500 Franchise Companies
April 12, 2006 - Entrepreneur magazine recently announced its 27th Annual Franchise 500, an annual ranking of standout franchising companies. This list of 500 companies represents the top 10% of all franchises in North America and, once again, the ranking includes Padgett Business Services. Padgett has been one of the Franchise 500 for nineteen consecutive years, beginning in 1987. Padgett Business Services has previously been included numerous times in Entrepreneur’s Top 101 Homebased Franchises, Top Low-Cost Franchises, and America’s Top Global Franchises.
“Padgett is recognized regularly with a number of high industry rankings,” said President and COO Roger Harris, “and to be acknowledged by Entrepreneur for the past nineteen years is a distinguished honor. This recognition speaks to the company’s stability and continuity in the industry.”
Entrepreneur Magazine’s first Franchise 500 in 1980 was the first ranking of franchises in the industry. Only franchise companies that submit full Uniform Franchise Offering Circulars (UFOCs) or Canadian disclosure documents and whose information is verified by Entrepreneur are considered for the Franchise 500 rankings.
All companies, regardless of size, are judged by the same criteria: objective, quantifiable measures of a franchise operation. The most important factors include financial strength and stability, growth rate and size of the system. Also considered are the number of years in business and length of time franchising, startup costs, litigation, and percentage of terminations. The objective factors are entered into the exclusive Franchise 500 formula, with each eligible company receiving a cumulative score. The 500 franchises with the highest cumulative scores become the Franchise 500.
“The company is pleased to be ranked among the top firms in North America,” added Brian Austin, Vice-Chairman of Padgett Business Services. “Padgett continues to grow because it is committed to provide services that fit the unique needs of the small business sector of our economy.”
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