Indholdsfortegnelse for January/February 2025 i Entrepreneur Magazine

WANT TO attract new business? Here’s one of the best ways: Give away your knowledge. This may sound dumb. Won’t people just steal your work and abuse your time? Nope: When you give away knowledge, you build trust and authority—and people want you more! I’ve experienced this myself, and I see many smart entrepreneurs do it too. I’ll explain how, so that 2025 can become your year of giving—and receiving. Let’s start here: I was recently talking to Dan Norcia, who heads partnerships at Pilothouse, which I do some work with. They improve brands’ e-commerce and have driven more than $500 million in business for clients. How? They’ll tell you! They publish tons of instructional materials, like a newsletter and podcast (named DTC), and host events like livestreams to help…

When it comes to e-commerce, Amazon is renowned for its speed and scale. And it’s only getting faster. Last year, the company achieved its quickest Prime delivery speeds yet. More than 5 billion items from Amazon arrived the same day or the next day across the globe—an increase of more than 30% year-over-year1. And just think, each item shipped required packaging to get to the customer’s doorstep. Meanwhile, as the convenience and speed of home delivery grows, so do consumers’ worries about sustainability. A recent study found that more than 80% of shoppers are concerned about plastic and packaging waste2. Instead, they favor recyclable, lower-waste options. In another survey, 78% of respondents said they have a more positive view of companies that use paper-based packaging3. How can businesses meet rising…

Who will be safe in the age of AI? Chris Lyons has an answer worth listening to. He is arguably the most culturally savvy guy at the most culturally influential VC firm, Andreessen Horowitz. He put together many of the splashiest tech deals today—because he’s the one forming the relationships between disruptive founders and attention-getting celebrities. Serena Williams calls him a friend. Kevin Durant’s business partner credits him with helping introduce the NBA superstar to Silicon Valley. Multiplatinum music artist will.i.am says that Lyons can find “Dr. Dre before he is Dr. Dre”—which is to say, he can spot the next icon while they’re still nobody. So according to Lyons, who is safe in the age of AI? To look forward, he says, we should first look backward—to Renaissance Italy.…

1/Stay fit for the job. No excuses with The Amazfit T-Rex 3 [$280; us.amazfit.com] watch, which helps you maximize workouts wherever you are, whether it’s -22 or 158 degrees Fahrenheit, at high altitudes or 328 feet in the ocean. With a battery that lasts about three weeks, you can use its off-grid, turn-by-turn navigation, train with customized AI coaching, or boss it around using voice commands. The 1.5-inchwide, bright display is easy to read in full sun with all the data you could ever need, from sleep tracking to tide schedules. 2/Wear your power. Launching a pop-up shop? Scouting locations in the desert? When work is mobile, you need juice that rolls through the day. Strap on the Bluetti Handsfree 1 Backpack Power Station [from $429; bluettipower.com] and run cameras,…

Dominican entrepreneur José Manuel Diez Cabral is at the helm of his Single Family Office, headquartered in the Dominican Republic, managing a diverse portfolio of ventures focused primarily on local investments. Through its three verticals—Industry, Real Estate, and Asset Management—Diez Cabral’s family office provides valuable opportunities for international partnerships while supporting the Dominican Republic’s economic growth. In manufacturing, Industrias Petroquim was founded by Diez Cabral’s father in 1957 to supply rubber soles and heels to local manufacturers. Today, Petroquim stands as a Dominican success story in the manufacturing of footwear and its components. Under Diez Cabral’s direction as CEO and Chairman, the company has evolved into a multinational enterprise with products exported worldwide. “My father didn’t have much to start off with, but he was a true entrepreneur. I can’t…

I began my career as a door-to-door salesman. It was hard. I would barely get my first sentence out, and their response would be, “Not interested!”—followed by a slammed door. These days, I’m a little disappointed when I don’t get any pushback. I’ll think, Wait a minute, come on, hit me with something! Why? Because after a successful career in sales, and now running a training agency for salespeople called The D2D Experts, I know something now that I didn’t when I started: Nine times out of 10, if a prospect doesn’t raise a single objection, they aren’t really listening. They’ve checked out, and when you get to the end, they’ll say something like, “Can you leave me some information? I’ll call you if I’m interested.” All of which is…

STARTED FRANCHISING/ 1987 TOTAL UNITS/ 2,861 COST TO OPEN/ $203.6K-$1.3M Jersey Mike’s Subs may be known for its classic, no-nonsense appeal, but its readiness to embrace change has proven equally important. This year marks Jersey Mike’s second year in a row at the No. 2 spot on our ranking, its seventh year in a row in the Top 10, and its eighth consecutive year as No. 1 in its category. It’s doing so well that in November, Blackstone announced it was buying the sub franchise for $8 billion. Operationally, this year’s biggest development is that nearly every shop now has separate lines for digital and in-store orders. “We started putting second lines in when we did the retrofits a couple years ago, and it’s just been building and building,” explains…

STARTED FRANCHISING/ 1976 TOTAL UNITS/ 5,965 COST TO OPEN/ $602.4K-$1.99M The year 2024 was a memorable one for Ace Hardware: It marked the company’s 100th year in business. Any milestone birthday is an opportunity to regroup, and CEO John Venhuizen guided the retailer co-op to zero in on ways it could better serve its “neighbors,” as the company calls its customers. Some measures might be invisible to anyone outside the company, but one major change will reshape the way “neighbors” shop across the country. Ace continued to expand its marketing to bring more customers to the brand. It also increased and improved its associate training—so that once those customers are in the store, the team members can provide them with all the help they need to accomplish their home-improvement goals.…

STARTED FRANCHISING/ 1971 TOTAL UNITS/ 7,282 COST TO OPEN/ $310.1K-$2.8M There were big changes at Wendy’s in 2024. The company brought on a new leadership team, rolled out new strategies to recruit franchisees, and even brought bilingual AI to its drive-thrus—all of which landed the burger brand back in the Top 10. (Last year, Wendy’s was No. 17.) Let’s start with the leadership. Kirk Tanner became president and CEO, after a nearly 32-year career at PepsiCo. (He was most recently CEO of PepsiCo Beverages North America.) The brand also elevated new people to its U.S. and international president roles. New initiatives followed—like data-driven incentivization programs, which help new franchises open in locations that have the highest probability of profitability. Wendy’s also introduced development incentives in Canada and parts of Latin…

JUMPED 221 SPOTS Zoomin Groomin is joining the Franchise 500 for the first time. It’s debuting at No. 280. John Hewitt is amazed by how much money people will spend on their dogs. That’s saying something, given that Hewitt has some experience with high-net-worth enterprises. Hewitt cofounded Jackson Hewitt, the tax preparation services empire, and sold it for $483 million. Today, his company Loyalty Brands has seven franchise brands with an eighth in the works, offering everything from construction and tax and accounting services to, yes, pet services—which he says is the “fastest-growing [category] by far.” “I love my tax-preparation industry, but it only grew by 1% a year,” he says. “The amount spent on pets has doubled, and it’s expected to double again in the next five years.” His…

1/ Host an annual family-friendly event. “Every December, we host our highly-anticipated ‘Grinch Takes Over’ event for two magical nights. A live Grinch character roams the restaurant, engaging with families, playing silly pranks, and posing for photos. He even accept onions from kids who come dressed as little Grinches themselves. We set up a large projector for movie screenings, serve special kids’ pizzas made with green dough, and provide on-site photo printing, giving families a memorable keepsake to take home—complete with our Crust Pizza branding, perfect for the fridge. We often have lines out the door, and people stop us around town to tell us how much their kids loved the event.” —JESSIE and JASON PARKER, franchisees of Crust Pizza Co. in Louisiana 2/ Incentivize team members to create content.…

Year Began/Franchising Since This shows how long a company has been in business and how long it has been franchising. Both are good to know when you’re trying to decide whether you should go with an established system or a newer concept. Available U.S. Regions and Seeking Int’l.? Check out these columns if you want to know whether a franchise system is expanding in your area and whether a company requires franchisees to buy master licenses or multiple units. Number of Franchises/Company-Owned See a franchise company’s size and how quickly it’s growing. Here, we list the numbers of franchises and company-owned units open and operating worldwide as of July 31, 2022, 2023, and 2024. Startup Costs/Franchise Fee Look here for the total initial investment to open a franchise (without financing).…

Customers might try something once. But how do you get them to return? Angus Long thinks a lot about this. He used to be an Orangetheory franchisee, and then founded a new kind of fitness studio called Hylo Fitness. He and his business partner, Matt Herring, built Hylo on a thesis: The fitness world is fragmented, with studios that exclusively focus on yoga, barre, or other modalities. Why not have the same group-fitness membership model, but offer multiple modalities under a single roof? So Long founded Hylo, which has a room for “high-intensity” workouts—combining cardio and strength training—and a room for “low-intensity” workouts pulling from practices like yoga, barre, and Pilates. But as he’s learned, it’s not enough to offer something new or unique. In addition, you must focus relentlessly…

Bangladesh is at a pivotal moment in its history, transitioning towards a future defined by transparency, sustainability, and inclusive growth under the interim leadership of Nobel laureate Muhammad Yunus. With a renewed focus on governance reform, democratic processes, and fostering trust among citizens and investors, the nation is poised to unlock its full potential on the global stage. The current administration’s emphasis on creating an open and supportive environment for businesses underscores Bangladesh’s commitment to attracting investment and innovation. As one of the fastest-growing economies in South Asia, Bangladesh boasts a burgeoning middle class and a dynamic entrepreneurial ecosystem. These strengths, combined with ongoing reforms, position the country as an increasingly attractive destination for both foreign and domestic investors seeking opportunities in a rapidly evolving market. Within this transformative context,…

Rising investment will drive Suriname’s economic growth in 2024-25, while structural reforms designed to strengthen the business climate will go hand-in-hand with the quickening pace of offshore oil and gas development, according to the Economist Intelligence Unit. The government has made developing the agriculture sector a priority, given its economic importance; the broader sector including forestry and fishing accounted for 8.1% of GDP in 2022, World Bank figures show. There is huge potential, with 1.5mn hectares considered suitable for agricultural production, less than 10% of which is being used, according to the US International Trade Administration. One of the largest food companies in Suriname is BIG Will Group, which among other businesses owns its largest flour producer, De Molen. De Molen was established in 1965 by current CEO Julio Bhikharie’s…

On track to become a high-income country by 2030, the Dominican Republic has one of the fastest-growing economies in the region, according to the World Bank. Rising incomes will further boost what is already the largest economy in the Caribbean, attracting increased trade and investment opportunities. As one of the country’s flagship consumer companies, Grupo SID is well-positioned to capitalize on emerging opportunities. Founded in 1937, Grupo SID has evolved from a small family-run peanut oil business into a diversified business conglomerate with an international presence and a portfolio of over 2,000 products spanning multiple sectors. A true testament to entrepreneurial growth, Grupo SID, through its companies, MercaSID (edible oils and consumer goods), Induveca (meats, charcuterie, and dairy products), and Induspalma (palm oil), has built some of the Dominican Republic’s…

With ample natural resources, particularly oil and gas, and a position as a major financial centre, Trinidad and Tobago has one of the highest gross national incomes in Latin America and the Caribbean, according to the World Bank. Classified as a high-income country, the twin island state of 1.3mn people has low indebtedness, robust financial buffers, excellent human capital, and political stability, which will support its medium-term growth. As befits an island nation between the wealthy economies of North America and the major emerging markets of South America, Trinidad and Tobago is a free-trading nation, with a high trade-to-GDP ratio of 92%, World Bank figures show. Key trading partners are as diverse as the US, China, Brazil, and Belgium. The Port Authority of Trinidad and Tobago (PATT) has overseen key…

What do the best franchises in America look like? Here are a few answers, based on our latest Franchise 500. Age/The best franchises can be as old as A&W, which started franchising in 1925 and is the oldest in our ranking. Or they can be as young as Spark by Hilton and Lawn Pride, both of which saw their first franchise in 2023 and are the list’s newest entrants. Our ranked brands are truly all ages, with eight that began franchising before 1955, and 92 that started since 2015. Cost/The best franchises can be started for as little as $1,945—which is the most affordable franchise investment in our ranking, from Cruise Planners. (In fact, eight of the ranked franchises can be started for less than $10,000. That includes five commercial…

STARTED FRANCHISING/ 1980 TOTAL UNITS/ 5,693 COST TO OPEN/ $100.9K-$495.9K When Sarah Casalan became president of The UPS Store, Inc., a few years ago, she spent a week working in one of the stores herself. It’s a customary experience for company leadership, intended to provide insight into what franchisees and customers alike could use help with. Sure enough, insight came on Casalan’s first day in the store—in the form of a large stack of training binders. “My head of instructional design would say that he remembers the day of that phone call very clearly,” she says with a laugh. To Casalan, it was immediately clear that all of this paperwork was the wrong approach. And since then, she’s heard time and again from operators that a more sophisticated system was…

STARTED FRANCHISING/ 1984 TOTAL UNITS/ 3,040 COST TO OPEN/ $15.2M-$25.9M Steady expansion is the name of the game for Hampton by Hilton. This past year was the brand’s 40th anniversary, and the company opened its 3,000th hotel worldwide. It also celebrated its 400th hotel opening in China, and its 150th across Europe, the Middle East, and Africa with the Hampton by Hilton Sandton Grayston in Johannesburg, South Africa. That site gave Hampton an established presence on five continents. But Hampton by Hilton’s international ambition hasn’t changed its focus here at home. “We introduced new, more efficient North American build prototypes and cost-effective renovation solutions for existing assets, to ensure our hotels are updated and refreshed,” says Shruti Gandhi Buckley, senior vice president and brand leader. “Our focus remains on delivering…

A school for new moms! It’s not easy being a new mom—which is why, in 2012, Alexandra Spitz created New Mom School to provide emotional and educational support during the postpartum period. The eight-week course includes wellness speakers, a research-based curriculum, and other forms of support such as free breastfeeding classes and a 24/7 exclusive digital community. Spitz created the company after what she calls her own “challenging experience as a new mother,” and her goal is to “focus on the mental health and well-being of moms, knowing that it directly impacts the health and development of their babies.” As of January 2025, New Mom School expects to have eight franchise locations across the U.S., with at least 20 more in the works. A mobile 3D scanning studio! Have you…

This essay is excerpted from Mark’s book, The Franchisee Handbook. Franchisees and franchisors should be collaborators. A relationship should benefit you both financially, and you should think of yourself on equal footing. Unfortunately, however, it doesn’t always end up that way. There are a few minefields that potential franchisees may encounter during the sales process. By interacting smartly with the franchisor, you’ll be better able to understand the opportunity, assess the business you’re getting into, and determine whether it’s the right fit for you. This is what I do for a living: As the CEO of iFranchise Group, my team of consultants helps emerging and established franchisors grow. We see the insides of these businesses, and we know what makes the best ones work—and the worst ones fail. In this…

As I built my snack-food brand, Sun & Swell Foods, I kept hearing the same advice: Hustle for your customers. Never turn down business. Obsessively focus on ROI. So that’s what I did—and although my company grew, it wasn’t profitable. This began affecting me emotionally. I love my brand and care deeply about its success. Its challenges started to feel like my own. By 2023, I needed a way to snap out of it. So I found a manifestation exercise called “Ocean of Abundance.” It goes like this: Imagine yourself by a magical ocean. Its waves are made of gold coins, and its wealth keeps washing ashore at your feet. I know this might sound silly, but I committed to it anyway. Its goal is to help you feel a…

1/Find pricing options for everyone. “Our challenge is finding the right balance between our daily customers, who might get a cold brew every afternoon, and those who view us as a ‘treat’—coming in for our boba or jelly sips. For everyday visitors, we’re very mindful of keeping costs reasonable. For those treating themselves, we have premium offerings like Stuffed Sips, which come at a higher price point due to extra ingredients and customization. So far, this approach has helped us navigate rising costs while still offering value.” —ANDREW MOGER, founder, Cool Sips 2/Cut underperforming products loose. “Given rising costs across the board, we’ve taken a hard look at our product mix and the inventory turn and margin for every item we carry. It’s hard to say goodbye to products you’ve…

Paraguay achieved the milestone of an upgrade to investment-grade rating from Moody’s in July 2024, with the ratings agency noting “robust and sustained economic growth”, an economy more resilient to shocks, and “a track record of institutional reforms”. The decision reflects long-term economic diversification and investment in infrastructure, paired with robust fiscal policy. The upgrade could be a significant boost for Paraguay, further opening access to international capital markets and lowering the government’s funding costs. The sovereign upgrade should have a knock-on effect for Paraguayan businesses, particularly in the financial sector. The banking system has huge growth potential given the low penetration of credit, with credit to the private sector to GDP reaching only 52% vs the global average of 95%. The latest financial inclusion data by the World Bank’s…

The Dominican Republic stands out as a regional beacon for business and investment, boasting economic growth that has tripled the regional average over the past two decades. This remarkable progress has lifted nearly 3 million people out of poverty, created a thriving middle class, and improved access to services, housing, and education. According to the World Bank, the country’s “dynamic growth,” projected at 5.1% in 2024, is driven by robust consumption, investment, and reforms in fiscal policy, energy, and employment. This success is underpinned by political and economic stability that is the envy of the region. “The Dominican Republic has achieved an important role among the countries of the region, thanks, among other things, to the stability and good health of our democracy, as well as the economic dynamism and…

I’ve seen many startups succeed, and many fail. I’ve consulted for and invested in lots of them. My previous startup, Anchor, navigated its own challenges and missteps; we were fortu-nate to survive them, and ultimately Spotify acquired the company in 2019. Over the years, I’ve come to think of startups as a game of Minesweeper. Remember that game from early PCs? You’d start with a grid of clickable squares, with cartoon mines hidden throughout. Your job was to take a few guesses, gain some information about where the mines were, and logic your way through finding them all. Similarly, startup founders start with an empty board. And although nobody can know their locations, the mines are guaranteed to be there—and certain types of mines are common to every kind of…

Paraguay’s planned fiscal consolidation programme has “started strongly”, while additional revenues from the Itaipu hydroelectric plant will allow the country to fund social investments, Fitch Ratings reported in mid-2024. Government revenue soared by 17% year-on-year in the first four months of 2024 as tax collections rose by 24%. Fitch expects the deficit to narrow further, bolstering investor confidence, with a backdrop of “solid” GDP growth. The government is committed not only to improving spending efficiency and tax administration, but boosting economic growth, continuing the country’s impressive path over the past two decades. Rising incomes are bolstering spending on healthcare, which rose nearly fivefold between 2000 and 2021 from $104 to $479 per head, according to the World Bank, with the budget of the Ministry of Public Health and Social Welfare…

STARTED FRANCHISING/ 1976 TOTAL UNITS/ 4,796 COST TO OPEN/ $471K-$3.9M If you’re at an airport or on a college campus anytime soon, keep an eye out for a Popeyes. Locations in these high-traffic areas have been key to the franchise’s growth game plan this past year. “From a long-term strategy standpoint, those venues are really important for us,” says Brian Lindley, vice president of development at Popeyes. “A lot of times, it’s a place for us to make a connection with a customer who we maybe don’t have a freestanding restaurant close to, but we might be able to build some brand affinity with them and just introduce the brand in a unique place. That’s why we’re really driving hard on that strategy.” By familiarizing new customers with the restaurant…

STARTED FRANCHISING/ 1988 TOTAL UNITS/ 978 COST TO OPEN/ $2.8M-$6.9M Craig and Lea Culver—along with Craig’s parents, George and Ruth—opened the first Culver’s restaurant in 1984 in the family’s hometown of Sauk City, Wisconsin. Their ButterBurgers and Fresh Frozen Custard were hits, leading to the first successful Culver’s franchise opening in 1990 in Baraboo, Wisconsin. Business has only gotten better. In 2024, Culver’s began celebrating its 40th anniversary—and now it’s celebrating its seventh year in a row in the Franchise 500’s Top 10. “After three record years of sales and traffic growth, outpacing the industry trends, we are on pace for yet another record year,” says Rick Silva, president and CEO of Culver’s. The company opened nearly 60 new locations in 2024, and expected to open restaurant number 1,000 by…

STARTED FRANCHISING/ 1958 TOTAL UNITS/ 25,418 COST TO OPEN/ $73.8K-$165.9K In an increasingly competitive education industry, Kumon consistently out-performs—serving millions of students globally, rolling out new innovations, and now earning its fifth consecutive spot in the Top 10. Kumon was founded in 1958 by Toru Kumon, a high school math teacher in Japan, and the first overseas Kumon Math Center opened in New York in 1974. It utilizes what it calls “The Kumon Method,” a system to help students of all ages develop “both a high level of academic ability and the ability to learn independently,” with a focus on math and reading skills. In 2024, the brand introduced two major initiatives: Kumon Connect, and its English for Spanish Speakers Program. “Both efforts are game changers for our instructors and…

Want to spot the hottest new trends in franchising? You need to look in a pretty wonky place: the Franchise 500 categories. Here’s why: Each year, as we create our ranking, we organize every franchise brand by category. Some categories are simple and expected, like Sports Bars/Pubs. But every year, as new kinds of franchises rise up, they require entirely new categories. For example, we’re now seeing a lot of bars where patrons can pour their own drinks—so instead of keeping them inside the Sports Bars/Pubs category, they now get their own Self-Pour Bars category. In other words, new trends require new categories. They’re a leading indicator of where franchising is going. This year, in addition to Self-Pour Bars, we added seven other new categories. They are: Autism Treatment Services,…

The very first Franchise 500 ranking was published in 1980. Over the four-and-a-half decades since then, the franchise industry has seen a lot of changes, including trends that have come and gone (and sometimes come again!) and new regulations. But through it all, the franchise model has remained resilient. It continues to be an increasingly attractive avenue for people interested in starting and running their own business. If you’re one of them, this list can be a valuable tool to learn about the opportunities that are available. You’ll find companies that started franchising before the Franchise 500 existed and have stood the test of time—as well as emerging brands that only started franchising in the past few years. You’ll find tried-and-true concepts, as well as some of the newest trends,…