Palm Beach Gardens, Florida – January 26, 2023 – Big O Tires and Midas, subsidiaries of TBC Corporation, have been recognized as two of the top franchises in Entrepreneur’s Franchise 500. Each well-known franchise brand also ranked number one in their respective categories for 2023. This annual award acknowledges the top 500 franchise organizations based on exceptional performance in areas such as unit growth, financial strength and stability, and brand power.
Big O Tires was named the number one Wheels & Tires franchise brand and ranked 157 overall. A total of 1,321 brands applied for this year’s listing, a record-breaking number of applicants which represent a worldwide total of nearly 650,000 units.
“We are honored to be among the winners of this highly sought-after distinction,” said Brian Maciak, President & Chief Operating Officer of Big O Tires. “Being rated number one in our category is a reflection of the brand’s essence – The Team You Trust®. This is a testament to our franchisees who are backed by an experienced team providing comprehensive support, resources and training to help them thrive, adapt and grow all while delivering legendary customer service.”
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 and each franchise is 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 ranking order of which Midas ranked number one for Automotive Repair and Maintenance Services for the third year in a row and 103 overall, increasing 47 spots from 2022.
“We’re proud of our franchisees and the work they do every day to keep their communities safe and moving on the road ahead,” stated Lenny Valentino, Jr., Midas Vice President & GM. “Our franchisees provide an invaluable service, and we are committed to continually evolve our programs to assist them ultimately establishing Midas as a place where consumers want to shop.”
To view Midas and Big O Tires in the full ranking, visit www.entrepreneur.com/franchise500. Results can also be seen in the January/February 2023 issue of Entrepreneur.