People Trump Numbers when Reporting Top 200+
Weed Man USA is one standout on the Franchise Times Top 200+.
Franchise Times Top 200+ is all about the numbers, of course—who is up and who is down. But to me, and I believe to many business readers, the more telling story is why.
We’re right now producing our exclusive ranking of the 500 largest franchise systems based in the United States, and everybody wants to know how much collectively those brands added to the gross domestic product last year. Our October issue will report the news.
We’ll also report what actions top leaders took, or failed to take, to drive those numbers. Who developed the best strategy to compete, and who took the wrong turn?
When you dig into the results from 12 industry sectors, as our team did, one truth becomes clear. The CEOs with stunning results, to a person, can articulate a key strategic investment or two, in some cases made a few years ago, which is bearing fruit today. Some examples from my reporting:
BrightStar Care CEO Shelly Sun required all franchisees to seek Joint Commission accreditation, the gold standard in home healthcare. It was an expensive undertaking for both corporate and operators, but led to significant revenue growth at the unit level.
Weed Man COO Jen Lemcke and her team rolled out an elaborate training program to develop sophisticated multi-unit franchisees, complete with how to develop a 10-year business plan and how to give or sell shares to top managers so they have an equity stake. In essence, they’re growing their own large operators as they take the United States by storm.
Unishippers President Kevin Lathrop created a new product portfolio offering multiple transportation options via one website, so customers can easily purchase a service whether they want to send an overnight letter or a full pallet of freight. Small- and medium-sized businesses, the brand’s target, are loving the convenience.
There’s much more to come in our next issue, so stay tuned.