Joel Libava
My strategic partner, Franchise Direct, has just released their Top Global Franchise Businesses List for 2022. And the best part?
The team at Franchise Direct has been producing the Top Global Franchises list since 2009. So they know what they’re doing.
But how does Franchise Direct determine the top franchise businesses in the world?
Top Global Franchise Businesses 2022: The Criteria
From The Franchise Direct website:
“The Top 100 Global Franchises share the keys to business success at any level including: a well-defined business identity, a clear business plan, a commitment to training and support, and the ability to innovate to keep pace with ever-changing social and economic conditions.”
And…
“Using a methodology that goes beyond financial performance and system size, the Top 100 ranking is compiled by taking into account a host of criteria, giving each criterion a weighted value.”
That said, should you base your franchise buying decision on a top franchise list like the one I’m about to share with you?
Heck no!
You should always base your choice in a franchise to own on several things…which may or may not include the franchise concept’s inclusion in a “list.”
Note: the dominant franchise model in use today-and the one featured in most of the top franchise lists, is the business format franchise.
4 Things To Base Your Franchise Choice On
For one, you need to make sure you’re partnering with a top franchise business system.
Secondly, the franchise you’re interested in should fit within your budget.
Note: The most important thing to do before you come up with a number that’s the upper-limit of what you’ll invest in a franchise is to calculate your net worth.
In addition, you need to be a good fit for the franchise concept along with the day to day life as a franchisee for the particular brand you’re focused on.
But the most important thing you can do to increase your chances of success as a franchise owner is to do top-shelf research.
With that in mind, check out The Top 100 Global Franchises.
