SARASOTA, Fla. - Step aside McDonalds, slow down Subway, don’t close that deal yet Century 21; there’s a new franchisor on the block and it has moved past everyone to claim top spot on theFranchise Times'annual “Fast 55” list of fastest growing franchises.
Franchise Timesreported in the March 2007 issue that for the last five-year period, One Hour Air Conditioning & Heating had a five-year average franchised unit growth rate of 2,592 percent - almost twice the reported growth rate ofFranchise Times’next ranked franchise. One Hour moved to the No. 1 spot up from No. 2 inFranchise Times'2006 “Fast 55” ranking.
Selection criteria to make the “Fast 55” are:
• A franchise brand that has been franchising for five years or less, no earlier than Jan. 1, 2001; and
• Positive franchise unit growth each year.
According toFranchise Times, in all there were 19 industry sectors represented on this year’s list with concepts in services industries dominating the list.
Not only did the recognition come fromFranchise Times, it also came fromEntrepreneurmagazine as well. One Hour has been ranked 14th among U.S. companies with breakthrough potential inEntrepreneur’s recently-published 2007 list of “Top New Franchises.”
In separate press releases, Tab Hunter, president of Franchise Operations for Clockwork Home Services Inc., owner of One Hour, said, “We are very pleased that One Hour Air has been recognized by one of the nation’s leading business publications for our performance and growth, which reflects the strength of our loyal customer base. This recognition underscores our leadership in the home services industry and the quality of contractors who continue to join our organization.
“We are continuing to see significant momentum in our franchise sales, which are being driven by contractor’s confidence in our brand reputation, on time customer service policy, and professional business practices.”
Entrepreneurinitially published its Franchise 500 in 1980. That list is published annually and ranks companies in several categories:
• Top new franchises;
• Fastest-growing franchises;
• Top U.S. franchisors seeking franchisees outside the United States;
• Top franchise opportunities you can run from home;
• Top franchises you can start for less than $50,000.
Jim Abrams, president and CEO/COO of Clockwork Home Services Inc., said, “Number one is a hard place to get to and the fact that an air conditioning company got there is a good story. It is an ego-building achievement for the entire HVAC industry.”
Abrams believes that One Hour has “revitalized the air conditioning niche” in the business world that has been dormant for a while. This revitalizing started as recently as August 2003 when the first One Hour franchise was opened.
The One Hour brand is approaching one half-billion dollars in annual sales, Abrams noted. As of Jan. 1, One Hour had a total of 148 franchisees and company-owned operations in more than 185 territories in the United States and Canada.
“We have a solid chance of holding our position for next year or at least being in the top five,” Abrams said. “Obviously we have a much larger and solid base to build from.”
Air Conditioning Franchises Becoming Hot
June 25, 2007