Recognised by entrepreneurs and franchisors as a top competitive tool of measurement, the Franchise 500(R) places Tutor Doctor at no. 107 for its exceptional performance in areas including financial strength and stability, growth rate, and system size. The franchise jumped 35 points since last year's ranking of 142.
"Parents worldwide understand the importance of their children competing in the global marketplace. Therefore, we are a need-based franchise and are continuing to grow internationally," said Frank Milner, Tutor Doctor President. "Our franchise is home-based and has low overhead, so it has a low point of entry, making it attractive to potential franchisees. It's validating to have our resulting success recognised by such a prestigious award."
Tutor Doctor's total investment costs are between $68,000 and $171,000. The company has a presence in nine countries with plans to open locations in five more countries in 2013.
"We're delighted to share the positive strides the companies in this year's listing are making and showcase them as representations of business strength," says Amy Cosper, VP and editor in chief of Entrepreneur. "The Franchise 500(R) are a major force contributing to the franchise upswing. Their ability to successfully satisfy customers, continually add units, create jobs and grow overall keeps them ahead of the rest and worthy of distinction."
The rankings for all 500 companies are determined using an exclusive formula that takes into account objective and quantifiable factors. An independent CPA analyses all financial data. The most important factors include financial strength and stability, growth rate and size of the system. All franchises are given a cumulative score, and the 500 franchises with the highest cumulative scores become the Franchise 500(R) in ranking order.
Over its 34 years in existence, the Franchise 500(R) has become both a dominant competitive measure for franchisors and a primary research tool for entrepreneurs. Tutor Doctor's position on the ranking reinforces its strength in the industry.