HoneyBaked Ham celebrates its recognition as one of the best franchises to own by Entrepreneur magazine’s Franchise 500 list– again! This ranking is always a significant accomplishment for our company, and it’s an ongoing testament to the quality of our products and the strength of our franchise system. We’re excited to share why this placement matters to potential franchisees.
ALL ABOUT ENTREPRENEUR’S FRANCHISE 500
So, why is it important for HoneyBaked Ham to be ranked on the Franchise 500 list? The Entrepreneur’s Franchise 500 list ranks the top franchise opportunities annually based on various factors. The list evaluates many things based on five pillars, such as financial strength and stability, growth rate, and size of the franchise system.
In essence, it is a comprehensive evaluation of a franchise’s overall health and potential for success. HoneyBaked is compared against all other franchises to get this honor, and ranking is more important than ever as we emerge into a post-pandemic world! Let’s take a closer look at the five pillars of judgment used to evaluate franchise opportunities.
The first pillar is the cost and fees associated with owning a franchise. It includes the initial investment, ongoing fees, and any other expenses. For a HoneyBaked Ham franchise, the initial investment ranges from $431,050 to $718,200. This investment aligns with similar franchises, and after years of ranking on the Franchise 500, we know our franchise is stable and holds value.
The second pillar considers the size and growth of the franchise system. HoneyBaked has over 400 locations in the United States and has boasted steady growth in recent years. Again, this index indicates that HoneyBaked has a proven business model and is well-positioned for continued success.
The third pillar evaluates the level of support provided to franchisees. HoneyBaked Ham offers our franchisees extensive training and ongoing support, including outstanding site selection, knock-out marketing, and terrific operations assistance. We’re among the best franchise opportunities for new business owners because of our innovative, operational simplicity and strong guidance.
The fourth pillar looks at the strength of the franchise’s brand. HoneyBaked has been in business for over 65 years, but our recently updated branding would never give away our age! We’re clever with social media and have a solid, experienced corporate division. We’re widely recognized and trusted by consumers nationwide, so we also score high with this pillar.
Finally, the fifth pillar considers the financial strength and stability of the franchise system. HoneyBaked Ham is a privately held company, but we have a strong financial track record, and our FDD updates franchisees about our financial performance.
AN APPETIZING FRANCHISE FOR INVESTMENT
With high stats in so many areas of judgment and comparison, the Honey Baked Ham Co. shines as a retail franchise to own. This year’s ranking holds special meaning because, as Entrepreneur said, it “shines a light on the unique challenges and changes that have shaped the franchise industry over the last year–and how franchisors have adapted and evolved to meet them.”
Having a franchise means you make your time your own again. Having our franchise means you also have all our Franchise 500 “pillar” strengths behind you. We’re happy to talk further about this fantastic opportunity to sell best-in-class products that people have loved for generations. Contact us today for more information.