You can learn a lot by analyzing what successful franchises are doing to fuel their growth.
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By following the basic strategies of the top-performing franchises discussed in this article, you will gain some key insights on what it takes to make your own company highly successful.
As of 2008, the Top 5 fastest-growing franchises are:
Let's break down the list and find out what exactly helped these franchises make it this far.
Jan-Pro Franchising Int'l. Inc
Jan-Pro, a commercial cleaning franchise, was founded by Jacques Lapointe in Province, Rhode Island in 1991. It started franchising a year later, operating throughout the U.S. and Canada. There are currently 6,409 U.S. franchises, 609 Canadian franchises, and 14 foreign franchises. Jan-Pro is the fastest-growing franchise because the commercial cleaning industry is highly stable, as new buildings are constantly being constructed in the U.S. There is high demand for cleaning professionals. On top of that, Jan-Pro offers exceptional quality service, which is an undeniable strategy that makes business successful.
What can you learn from Jan-Pro?
- Choose the Right Niche. Choose an industry that will stay in high demand for awhile.
- Quality is Key. Be sure to maintain the quality of your company.
This business, named after the hours its stores used to operate (7 a.m. to 11 p.m.), originated in Dallas in 1927 and is now seen everywhere in the U.S. and Canada. It has been franchising since 1964, and is visited by approximately 6 million customers each day searching to buy food, drinks, and gas. As of 2007, there are 5,580 U.S. franchises and 26,680 foreign franchises. This convenience store is one of the most successful franchises because its franchisors maintain the costs of land, building, store equipment, water, sewer, gas, electric utilities, building rent, property taxes, bills, and payroll services. Most franchisors do not maintain these costs, which makes 7-11 so successful. Along with that, they provide a support structure and a field consultant who meets weekly with the franchisee to help maximize the performance and profits of the store. They make sure to always meet customer needs, which is a must when owning any franchise.
What can you learn from 7-Eleven?
- Keep an Eye on Costs. Remember to maintain the costs necessary to keep your franchise running.
- Get Advice from Experts. Have a consultant meet weekly with your company to figure out new ways to improve business.
- The Customer Is King. Always meet or exceed the demands of customers.
Formerly known as Pete's Super Submarines, Subway was founded by 17-year-old Fred DeLuca and family friend Peter Buck in Bridgeport, Connecticut in 1965. DeLuca only planned for the small sandwich shop to pay his way through college. In 1974, the company changed its name to Subway and began franchising. Subway currently has 21,344 U.S. franchises, 2,306 Canadian franchises, and 5,149 foreign franchises.
This business has become one of the fastest-growing franchises because of its variety of healthy food, fast service, and simple store design. Its wide variety of healthy food is high quality, and attracts many consumers because people all over the country are looking for good food that is also good for them.
What can you learn from Subway?
- Hire for Speed. Hire employees who can deliver fast and friendly customer service.
- Keep It Simple. For the most part, keep your design and message simple so consumers can easily remember what you stand for.
Started by Jim Cavanaugh in 1969, Jani-King's purpose was to become a successful commercial cleaning company. Cavanaugh had previously worked as a night auditor at a hotel chain, where he discovered the potential success of janitorial services. The business has had 10,429 U.S. franchises, 609 Canadian franchises, and 1,661 foreign franchises as of 2007. It has been franchising since 1974.
What is Jani-King's secret to being one of the fastest-growing franchises? Competition. Jani-King sets long-term goals in order to maintain their outstanding quality, and continues to be an extremely competitive company.
What can you learn from Jani-King?
- Be Feisty. Make sure your employees have a competitive attitude and want to see your company succeed.
- Be Goal-Oriented. Always set goals for your business.
- Have No Fear. Be willing to compete with your toughest competition.
This business, formerly known as Open Kettle, was founded in 1950 by William Rosenberg. Originating in Boston, this shop specialized in delivering meals and snacks to local workers. Dunkin' Donuts began franchising in 1955 and now serves a wide variety of breakfast goods, coffees, and fruit drinks in more than 40 countries. As of 2007, it has 5,451 U.S. franchises, 79 Canadian franchises, and 1,846 foreign franchises. Dunkin' Donuts is well known for high quality service, a variety of menu choices, talented and experienced chefs, and creativity.
What can you learn from Dunkin' Donuts?
- Emphasize Service. Keep service at its highest possible performance.
- Customers Love to Have Options. Give your customers choices.
- People Matter. Hire talented, experienced and creative employees who are willing to identify new ways to make your business a success.