School of Rock was recently ranked among Entrepreneur’s Franchise 500, with the brand claiming the top ranking in the children’s enrichment music category.
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. School of Rock’s position on the ranking is a testament to its strength as a franchise opportunity.
“Topping Entrepreneur’s Franchise 500 ranking in our category is an honor and validates our team’s passion and hustle when faced with unprecedented challenges,” said Rob Price, CEO of School of Rock.
“This is an incredibly exciting time to be part of School of Rock as we continue to build on this momentum and expand across the globe and fulfill our mission to enrich lives through music.”
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.
“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.”
To view School of Rock in the full ranking, visit www.entrepreneur.com/franchise500. Results can also be seen in the January/February 2021 issue of Entrepreneur, available on newsstands January 26th.