Charlotte, North Carolina — CARSTAR has been ranked first among collision repair companies in the Entrepreneur Magazine 2021 Franchise 500 list–the second franchise award this week for the company.
The list is recognized by entrepreneurs and franchisors as a top competitive tool of measurement. The Franchise 500 placed CARSTAR 164th on the list and first among collision repair franchises.
Earlier this Month, CARSTAR also secured the 25th spot on the Franchise “Fast and Furious” top 40 list.
“It’s an honour to again be recognized among the top franchise companies in the world. Through 2020, we focused on supporting our franchise partners during a challenging time, while continuing to deliver strategic growth, operational improvements and best-in-class customer service as North America’s premier collision repair company,” said Dean Fisher, collision group president for Driven Brands.
“Our ranking as one of the top franchises reflects these accomplishments. This would not have been possible without the tremendous hard work and dedication of our more than 700 franchise family and CARSTAR team members. This year has had a unique focus, as we have prioritized our efforts on helping our franchise partners stabilize and sustain their businesses. We have seen that approach prove successful, and are looking to continuing our growth and performance into 2021.”
Key factors that weigh into Entrepreneur Franchise 500 list evaluation include’ cost, fees, size, growth, support, brand strength, financial strength, and stability. All franchises are given a cumulative score based on more than 150 data points, and the 500 franchises with the highest cumulative scores become the 500 in ranking order.
CARSTAR credits its resilience and success to several key factors, including strengthened insurance relationships that delivered increases in repair volumes and industry-leading operational performance, driven by CARSTAR’s EDGE Performance Group platform.