Buddy’s Home Furnishings, a leader in the rent-to-own franchise business, was recognized as one of the top 500 franchises in Entrepreneur’s Franchise 500®, the world’s first, best and most comprehensive franchise ranking.
The 43rd annual Entrepreneur Franchise 500® is a highly sought-after honor in the franchise industry. Recognized as an invaluable resource for potential franchisees, the 2022 Franchise 500® ranks Buddy’s Home Furnishings as #226 for its outstanding performance in areas including unit growth, financial strength and stability, franchise support and overall brand power.
“We’re thrilled to be back on the Franchise 500® list for the second time,” said Michael Bennett, CEO of Buddy’s Home Furnishings.
“This year’s success really began back in 2020, when we laid the foundation and started fine-tuning our growth strategy. We established an exceptional management team, which helped us attract more franchisees. As a result, Buddy’s saw large-scale expansion as an organization and we’re eager to continue on that track.”
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.
“The past year has been one of the most challenging for businesses in recent memory, which made putting together our 43rd annual Franchise 500 list more enlightening than ever,” says Entrepreneur Editor in Chief Jason Feifer.
“The companies named to this year’s list showed us how being resilient, supportive, and nimble can help navigate extraordinary challenges and also underscore the grit and innovation that define entrepreneurship.”