The 3 Biggest Franchise Awards Lists for 2020

In the franchise industry, brands are always looking to stand out, and one of the best ways to do that is with a little bit of high-profile recognition for things like dedication to service, innovation, sales and quality of product. Franchise awards are a great asset help with validation and bring more prospects to your business. 

Fortunately, there is no shortage of franchise awards, but if you really want to stand out, there are three awards list that every franchise brand should have their eye on. 

1)  The Inc 5000 List

Inc 5000 compiles an annual guide of the 5,000 fastest-growing privately held U.S. companies, all of which are on the path to becoming the most successful brands in the world.  

You may ask, “how can our business get on the Inc. 5000 list this year?” According to an an Inc. 5000 interview with Nick Friedman, the President and Co-Founder of College Hunks Hauling Junk & Moving, the fast-growing franchise and largest US-based junk removal and moving business, there are three key drivers that a business team should focus on:

“The success and longevity of our business model is based on selling franchises and growing our franchise network.”

“Next, we focused on company culture, which helped attract high-quality team members to bring our company vision to fruition.”

“Lastly, we focused on our customer service experience. Because our business is primarily transactional”

Apply for the Inc. 5000 List here. 

2)  Entrepreneur 500

Recently, Entrepreneur Magazine launched its 41st Franchise 500 list. While there are any number of features a brand may want to be recognized for, this list underlines one of the most important: how much growth and success a brand achieves each year. 

In 2020, more than 1,100 companies applied, but the top 500 were recognized for their willingness to evolve with the latest trends. There are five key factors that are considered: costs & fees, size & growth, support, brand strength, and financial strength & stability. 

According to Entrepreneur Magazine, a franchisor becomes eligible to rank by consistently bringing new franchisees to their business throughout the United States and Canada. They also are expected to have at least 10 units operating while having a presence in North America. 

3)  Franchise Times Top 200+ 

According to Franchise Times, “The largest brands in the Franchise Times Top 200+ keep getting larger, but there is plenty of growth across the exclusive ranking of franchised brands by systemwide sales.”

In an ever-growing industry that has become increasingly competitive, Franchise Times shines a spotlight on the top 500 franchises each year. A franchisee can be recognized if they own 15 percent of the United States-based franchisor units, or if they have 10 percent of the total units in the United States.

Research for Top 200+ begins in April, and you can submit your brand for consideration by contacting Franchise Times’ research lead, Matt Haskin, at [email protected].

Other high-profile franchise-recognition lists:

• Forbes: 30 under 30, Best & Worst Franchises to Buy
• Franchising Gives Back: Enduring Impact Award, Innovation and Impact Award, Spirit of Franchising Award, Support our Veterans Award, The Newcomer Award
• International Franchise Association: Bonny LeVine Award, Entrepreneur of the Year, Ronald E. Harrison Award, The Hall of Fame Award
• QSR: QSR Best Franchise Deals, QSR 50, QSR FPI Packaging Awards, QSR Applied Technology Awards
• Franchise Gator: Top 100, Fastest Growing, Top Emerging
• Nation's Restaurant News: NRN Top 200
• Technomic: Consumers' Choice Awards for chain restaurants
• James Beard Award (Multiple Categories): Restaurant & Chef Awards, Book Awards, Broadcast Media Awards, Journalism Awards, Restaurant Design Awards