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, from autism treatment services to self-pour bars. Above all, you’ll find a wealth of information on brands that want to make you the boss.

There’s one more thing that hasn’t changed since 1980, and that’s the goal of this list— to recognize the franchise companies that are doing it best. But how do we determine which ones those are? Read on to find out.

The Five Pillars of the Franchise 500^®

Some key factors that go into our evaluation:

Note: Pillars are not listed in order of importance or weighting.

Our ranking process begins by gathering the data. Starting in June 2024, we asked franchisors to fill out our extensive online form and submit a copy of their current Franchise Disclosure Document (FDD) or Canadian Disclosure Document. An impressive 1,366 companies supplied all the required information this year. Each submission was vetted by our editorial team before being entered for data analysis.

To be eligible to rank, a franchisor must be seeking new franchisees in the U.S. or Canada and must have had a minimum of 10 units open and operating as of July 31, 2024, with at least one franchise located in North America. Each eligible franchisor was scored based on more than 150 data points, and those with the highest cumulative scores became this year’s Franchise 500.

Note: The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a tool to compare franchise operations. You should always conduct your own careful research before investing in a franchise. Read the FDD and related materials, get help from a franchise attorney and an accountant to review legal and financial documents, talk to as many existing and former franchisees as possible, and visit their outlets. Protect yourself by doing your homework to find the opportunity that’s best for you.

Research compiled by Tracy Stapp Herold, Jordan Hall, and Michael Frazier, with assistance from Sean Strain, Emma Bennett, Elina Natarajan, and Karl Wang; technical assistance from Michael Flach and Angel Cool.