Crunch Fitness Ranked a Top Franchise in Entrepreneur's Annual Franchise 500
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NEW YORK, N.Y. - Crunch Fitness recently ranked in Entrepreneur Magazine's Franchise 500, the world's first, best and most comprehensive franchise ranking. Placement in the Franchise 500 is a highly sought-after honor in the franchise industry, making it one of the company's most competitive rankings ever. Recognized as an invaluable resource for potential franchisees, the Franchise 500 ranks Crunch Fitness as #52 for its outstanding performance in areas including unit growth, financial strength and stability and brand power.
"2020 was a challenging year for everyone, but it was also a year of unusual opportunity," says Jason Feifer, Entrepreneur Editor-in-Chief. "Franchises were able to be nimble and innovative, serving the needs of franchisees and customers in ways that will resonate for many years to come. We believe that, when we eventually look back on this time, we'll see it as a moment when many brands defined themselves for the future."
In Entrepreneur's continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company's 42-year-old ranking formula continues to evolve as well. The key factors that go into the evaluation include 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.
"For us to improve our ranking so dramatically during the last year is a testament to the strength of our franchisees, our team, our members, and ultimately, the Crunch brand. We are very thankful to everyone that has worked so hard at keeping Crunch thriving even during these challenging times, and we are very excited for the future," says Ben Midgley, CEO of Crunch Franchising.
Over its 42 years in existence, the Franchise 500 has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Crunch's position on the ranking is a testament to its strength as a franchise opportunity.