Burkburnett, TX – January 25, 2024 – HomeWell Care Services was recognized as one of the top 500 franchises in Entrepreneur magazine's 2024 Franchise 500, a highly sought-after recognition in the franchise industry. Due to HomeWell Franchising’s outstanding performance in several areas, including unit growth, financial strength, stability and brand power, HomeWell secured a spot at number 283 on the nationally ranked list, marking an 18.4% improvement from its 2023 ranking.
“Every brand on the Franchise 500 has its own unique story, but they all collectively make the same statement: Franchising is strong and resilient, is full of innovation and opportunity, and provides a powerful entrepreneurial path for many people,” said Entrepreneur editor-in-chief Jason Feifer. “Our 45th annual ranking is full of companies with fresh ideas, exciting business models, cultural sway, and the kind of business sophistication that will define the next 45 years and beyond.
In Entrepreneur's continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company's 44-year-old ranking formula also continues to evolve. The editorial team researches and assesses several factors that go into the evaluation, including 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.
Over its 45 years in existence, the Franchise 500 has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees.
"We are honored to be recognized once again in Entrepreneur's prestigious Franchise 500,” said Crystal Franz, CEO of HomeWell Franchising. “This achievement underscores the strength of HomeWell's franchise system and our commitment to empowering our owners—both new and experienced—with comprehensive support and resources. It’s an affirmation that our strategic efforts are paying off, and we’ll continue to help our franchise agencies thrive in their local markets while embracing innovation to help shape the future of the home care industry."
To view HomeWell in the full ranking, visit entrepreneur.com/franchise500 or pick up a copy of the January/February 2024 issue of Entrepreneur on newsstands now.