Widely read publication cites FranNet’s rapid growth and revenue
FranNet, a national network of franchise consultants, has made the list of “Top 10 Franchises” in the 2011 INC 500, Inc. magazine’s annual list of the fastest-growing privately held American companies.
The accompanying article highlights the Louisville, Ky.-based company’s rapid growth and general success, with record 2010 revenues of $11.5 million. The list ranks franchises by their three-year growth rates; FranNet ranks seventh, at an impressive 792 percent.
FranNet works with corporate workers and executives who are leaving dwindling careers and helps them research and select a franchise business that fits their needs, skills and resources. The consulting advice is both valuable and free to prospective business owners and is in high demand as the economy struggles.
“FranNet helps franchises market themselves, in addition to being a franchise organization itself,” the article says. “Steve Rosen, the company’s CEO, says the success of FranNet is directly correlated to the sluggish economy and poor job prospects — in other words, people are turning towards entrepreneurship (and franchising) to earn a living.”
“We’re excited that a publication as widely read and respected in the business community as Inc. has chosen FranNet for its Top 10 Franchises list,” says Jania Bailey, FranNet’s COO. “It’s a testament to the hard work of our staff and franchised consultants, and a tribute to the viability of franchising as a career path for professionals who want to take control of their careers in tough economic times.”
In addition to helping record numbers of corporate refugees, FranNet, which is itself a franchise system, is expanding and adding new consultants to meet demand.
Founded in 1987, FranNet provides free education and support for professionals interested in self-employment through franchise ownership. FranNet consultants use a detailed profiling and consultative process to determine a business model unique to each client based on the client’s interests and skills. The company has more than 75 franchised consultants in the United States and Canada.
INC magazine, founded in New York City in 1979, is a monthly publication that highlights growing businesses, with a national circulation of about 700,000. It’s read widely among entrepreneurs and business owners.
For more information on FranNet, visit www.frannet.com.