Press release: Petland
Petland is honored to once again be ranked among top-ranked franchises in the United States.
Petland moved up 41 positions this year, ranking 168 overall in the Entrepreneur Magazine’s Annual Franchise 500. According to World Franchising Network, there are more than 4,500 active franchisors in North America.
“Forty years after the very first Franchise 500 ranking, the franchise industry is still going strong and more competitive than ever. More than 1,000 companies applied for this year’s ranking, and those that rose to the top reveal the latest trends as well as the companies that continue to evolve to keep going strong year after year,” said Entrepreneur Magazine regarding the listings.
Each year Petland submits their franchise information, franchise disclosure document, and answers a questionnaire to Entrepreneur Magazine. The Entrepreneur Magazine ranks each franchise using The Five Pillars of the Franchise 500. The Five Pillars include Costs and Fees, Size and Growth, Franchise Support, Brand Strength, and Financial Strength and Stability.
“We are honored to be recognized by Entrepreneur Magazine,” said Petland, Inc. President and CEO Joe Watson. “This recognition validates the hard work and success of our franchisees and the continued relevance of the Petland brand and our mission to match the right pet with the right customer and meet the needs of both.”
Petland, Inc.’s Vice President of Business Development Steve Huggins stated, “Over 50 years in business and we continue to find ways to improve and grow the Petland franchise system. Our franchise partners domestically and around the world are making a difference each day in the lives of our customers and their pets. We thank them for their dedication to the Petland brand.”
In conducting its annual rating of franchises in the world, Entrepreneur considers numerous factors including financial strength, stability, growth rate and size of the franchise system. An independent CPA firm audits financial data. Every company with verifiable data receives a cumulative score. The franchises with the highest cumulative scores become the Franchise 500.