Colors on Parade was recognized as one of the top 500 franchise in Entrepreneur’s Franchise 500. The 43rd annual Entrepreneur Franchise 500 is a highly sought-after honor in the franchise industry. Recognized as an invaluable resource for potential franchisees, the 2022 Franchise 500 ranks Colors on Parade as 451 for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
“The past year has been one of the most challenging for businesses in recent memory, which made putting together our 43rd annual Franchise 500 list more enlightening than ever,” says Entrepreneur Editor in Chief Jason Feifer. “The companies named to this year’s list showed us how being resilient, supportive and nimble can help navigate extraordinary challenges and also underscore the grit and innovation that define entrepreneurship.”
In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s 43-year-old ranking formula continues to evolve as well. The editorial team researches and assesses several factors that go into the evaluation, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order.
Over its 43 years in existence, the Franchise 500 has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Colors on Parade’s position on the ranking is a testament to its strength as a franchise opportunity, the company said.
To view Colors on Parade in the full ranking, visit entrepreneur.com/franchise500. Results can also be seen in the January/February 2022 issue of Entrepreneur.