Monday, Feb 01, 2021
Five Star Painting® Ranked a Top Franchise in Entrepreneur’s Highly Competitive 42nd Annual Franchise 500®
WACO, Texas (Feb. 1, 2021) – Five Star Painting, a Neighborly company, recently ranked 234 overall in Entrepreneur magazine’s Franchise 500®, the world’s first, best and most comprehensive franchise ranking. Recognized as an invaluable resource for potential franchisees, the Franchise 500® selected Five Star Painting for its outstanding performance in areas including unit growth, financial strength and stability and brand power.
Five Star Painting’s inclusion on the 2021 Franchise 500 follows a year of impressive growth for the brand, with 32 agreements awarded and 22 new franchise locations opened in 2020.
“Placement in Entrepreneur’s annual Franchise 500® is such a highly sought-after honor in the franchise industry, and Five Star Painting is honored to have been included in this prestigious list,” said Matt Kunz, President of Five Star Painting. “Given all the obstacles we had to overcome in 2020, being recognized as a top franchise opportunity feels better than ever and sets us up for continued growth and success in the new year.”
In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s 42-year-old ranking formula continues to evolve as well. The key factors that go into the evaluation include 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 42 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Five Star Painting’s position on the ranking is a testament to its strength as a franchise opportunity.
“2020 was a challenging year for everyone, but it was also a year of unusual opportunity,” said Jason Feifer, Entrepreneur editor-in-chief. “Franchises were able to be nimble and innovative, serving the needs of franchisees and customers in ways that will resonate for many years to come. We believe that, when we eventually look back on this time, we’ll see it as a moment when many brands defined themselves for the future.”
Five Star Painting is one of 16 Neighborly brands to be included in this year’s Franchise 500 ranking. Other Neighborly brands on the 2021 list of top franchises include: Molly Maid, Mosquito Joe, Mr. Appliance, Mr. Rooter Plumbing, Aire Serv, Real Property Management, Mr. Electric, Mr. Handyman, ShelfGenie, Rainbow International Restoration, Glass Doctor, The Grounds Guys, HouseMaster, Precision Door Service and Window Genie. Neighborly remains the world’s largest franchisor of home service brands, with 28 brands under its umbrella.
To view the full ranking, visit www.entrepreneur.com/franchise500 Results can also be seen in the January/February 2021 issue of Entrepreneur, now available on newsstands.
About Five Star Painting®:
Five Star Painting® is North America’s premier professional residential and commercial interior and exterior painting franchise. Founded in 2004, Five Star Painting® operates from more than 220 locations worldwide. Acquired in 2015, Five Star Painting is part of Neighborly®, the world's largest home services franchisor of 28 brands and more than 4,500 franchises collectively serving 10 million customers in nine countries, focused on repairing, maintaining and enhancing homes and businesses. Neighborly® brands are found at Neighborly.com in the United States and Neighbourly.ca in Canada. For more information about Five Star Painting®, visit FiveStarPainting.com. To learn about franchising opportunities with Neighborly®, click here.
Neighborly® is the world's largest home services franchisor of 28 brands and more than 4,500 franchises collectively serving 10 million customers in nine countries, focused on repairing, maintaining and enhancing homes and businesses. The company operates online platforms that connect consumers to service providers in their local communities that meet their rigorous standards as a franchisor across 18 service categories at Neighborly.com in the United States and Neighbourly.ca in Canada. More information about Neighborly/Neighbourly, and its franchise concepts, is available at https://www.neighborlybrands.com/ To learn about franchising opportunities with Neighborly®, click here.
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