CHILLICOTHE, OH (Jan. 16, 2024) – Ohio-based Petland, Inc. continues moving up on Entrepreneur magazine’s Franchise 500® list, advancing six places over last year’s ranking. On the 2024 list revealed by Entrepreneur magazine, Petland ranks #152. Entrepreneur’s Franchise 500® is the world’s first and most comprehensive franchise ranking.

“We are thrilled that Petland has again been recognized on the Franchise 500® for its outstanding performance in the areas of unit growth, financial stability and brand power,” said Petland President and CEO Joe Watson. “This year, competition to be included on the list hit its highest number, over 4,300 applicants, making Petland’s placement even more meaningful and impressive. We are proud to be recognized for our efforts and achievements in providing entrepreneurs with franchise opportunities that enable Petland to build upon the human animal bond all over the world.”

In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s ranking formula continues to evolve as well. The editorial team researches and assesses several factors, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is then given a cumulative score based on an analysis of more than 150 data points. The 500 franchises with the highest cumulative scores become the Franchise 500® in ranked order.

“Every brand on the Franchise 500® has its own unique story, and they 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,” says Jason Feifer, editor in chief of Entrepreneur magazine. “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.”

Feifer adds, “Over its 45-year existence, the Franchise 500® has become a dominant competitive measure for franchisors, and a primary research tool for potential franchisees. Petland’s position on the ranking is a testament to its strength as a franchise opportunity.”

To view Petland in the full ranking, visit http://www.entrepreneur.com/franchise500.