News: I-CAR Opens Online Nominations for Industry Awards
CARSTAR announced it has been ranked no. 1 in its category among the top franchises in Entrepreneur magazine’s 2022 Franchise 500.
“It’s an honor to again be recognized among the top franchise companies in the world,” said Dean Fisher, collision group president, Driven Brands. “Through 2021, we focused on supporting our franchise partners while continuing to deliver strategic growth and operational improvements as North America’s premier collision repair company, and our ranking as one of the top franchises reflects these accomplishments.”
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.
“This would not have been possible without the tremendous hard work and dedication of our franchise family,” said Fisher. “Throughout this year, we prioritized our efforts on helping our franchise partners so they could continue providing their communities with the highest level of repair quality and customer service experience. We have seen that approach prove successful and are looking to continue our growth and performance into 2022.”
Recognized by entrepreneurs and franchisors as a top competitive tool of measurement, the Franchise 500 places CARSTAR 193rd on the list and first among collision repair companies.