The year 2020 was a challenging one for businesses of all kinds. Fitness Machine Technicians had to adapt to unprecedented changes in the retail and commercial marketplaces and evolve our business strategies to prosper. We’re proud of how we have continued to grow as a brand, and we’re especially honored that our success was recognized for a second year in a row. That’s why we want to give a big thank you to Entrepreneur Magazine for including us in their 2021 Franchise 500!
In 2020, Entrepreneur received a record-breaking 1,116 applicants for its 42nd annual list published this year. The applicants covered a wide variety of industries—including restaurants, hotels, retail stores and service-based businesses like us. Out of those 1,116 submissions, Fitness Machine Technicians ranked at #208 in the overall ranking. Last year we were ranked #148 on the 2020 Fastest Growing Franchises list. It was an honor to move over to the larger Franchise 500 list this year and score so highly. Not too bad, if you ask us.
To determine the 500 winners, franchises were evaluated on five pillars:
- Costs & Fees
- Size & Growth
- Brand Strength
- Financial Strength & Stability
Each franchise was scored on more than 150 data points, and those with the highest cumulative points became the Franchise 500. To qualify for the ranking, franchisors had to be seeking new franchisees in the U.S. or Canada and have a minimum of 10 units open and operating as of July 31, 2020.
We are expecting 2021 to be an even stronger year for Fitness Machine Technicians as we expand into Canada and Covid-19 restrictions lift. Find the full list of the 2021 winners here.