APRO members Buddy’s Newco LLC dba Buddy’s Home Furnishings, Rent-A-Center, Inc., and RNR Tire Express all made Entrepreneur’s new list of 2023 Top Franchises for Multi-Unit Owners. The companies ranked #47, #53, and #57 respectively for their appeal to prospective franchisees interested in multi-unit ownership and existing franchise owners seeking to expand their portfolios.
“We’re thrilled to rank highly on this debut list,” said Buddy’s CEO Michael Bennett. “Buddy’s franchising model is built for multi-unit owners, which is why 90 percent of our franchisees own more than one storefront. Over the past six decades, we’ve established an operating model that has proven to be replicable and successful, which is what keeps our franchise owners coming back for more.”
“Entrepreneur’s recognition of Rent-A-Center over the years has been deeply appreciated, and this new multi-unit category is a great new addition,” said RAC Vice President of Franchising Michael Landry. “While we have some of the largest franchisees nationally outside of the food/QSR sector, we strive to effectively support our largest and our smallest franchisees alike.”
According to franchise research and advisory firm FRANdata, 53.2% of all franchise units operating in the U.S. last year were owned by multi-unit owners. To determine the top brands for multi-unit ownership, Entrepreneur asked franchisors several relevant questions – such as Do you offer discounts to franchisees purchasing multiple units? and What percentage of your franchisees own multiple units? – and factored in each company’s Franchise 500 score, which is based upon an analysis of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial stability.
“The names on these [types of] annual rankings shift with each passing year, more or less,” said RNR Tire Express Founder and CEO Larry Sutton. “While RNR’s presence on them is a clear indicator of our maintained systemwide development amidst a growing field of competition, it’s even more exciting to find ourselves listed alongside some of franchising’s most recognizable names in a first-of-its-kind ranking. It paints a new and compelling picture for prospects.”
“Entrepreneur’s list reflects the state of the franchise industry, and there is perhaps no greater story than the power of the multi-unit franchisee,” said Editor in Chief of Entrepreneur magazine Jason Feifer. “The industry is increasingly embracing them as motivated, knowledgeable, capable operators.”
View the full list of Entrepreneur’s 2023 Top Franchises for Multi-Unit Owners here.