Franchise Business Review’s list of the Most Innovative Franchises recognizes top franchises that prioritize and value innovation to support their franchisees’ success and the long-term resiliency of the brand. The franchises on our list offer innovative products, services, or processes to help their businesses stay fresh and grow.
“Innovation takes a lot more than just having creative ideas and solutions. It also takes execution,” said Eric Stites, founder, and CEO of Franchise Business Review. “Each of the companies on our list of Most Innovative Franchises has developed and implemented products, processes, or services that enable and sustain growth and long-term relevancy.”
Cruise Planners is recognized as a Top 200 Franchise, Most Innovative Franchise, Top Low-Cost Franchise, Franchise Rock Star, Culture Award winner, Top Franchise For Women, and a Franchise Hall of Fame recipient. The brand offers a home-based business model that gives franchise owners the flexibility to work their business on a schedule that fits their lifestyle, whether full-time or part-time and from anywhere they choose. With a 25+ year legacy of franchising, the company has developed and honed proven systems and tools designed to create successful franchise owners. They provide industry-leading technology, award-winning marketing, and comprehensive training.
Cruise Planners franchisee Valerie Dorsey said, “I’ve met so many other travel agents that don’t have a third of the tools we have! Cruise Planners has the best training, marketing, and technology available. These things allow me to work from anywhere. The entire company is there to support us and provide everything we need to run our businesses.”
Payroll Vault is a Top 200 Franchise, Most Innovative Franchise, Top Low-Cost Franchise, Recession-Proof Franchise, Franchise Rock Star, Culture Award winner, and Top Franchise For Women. Innovation is a key component of the brand’s business model and plays a critical role in all areas of franchise systems including training and support, operations, franchisor/franchisee relations, and financial opportunity. With 30M businesses and climbing in the US, small business development drives a rich and in-demand marketplace. The company has quickly emerged as the leading full-service payroll franchise opportunity for entrepreneurs.
Payroll Vault franchisee, and 2022 FBR Rock Starr, Zane Glover said, “My top priority from the start was finding an innovative franchise that offers excellent and reliable support to franchisees. Being with Payroll Vault, and leveraging an advanced software package, allows me to significantly better support my clients. From audits and security to insurance and tech support, I have all the tools I need to successfully run my business.”
TWO MEN AND A TRUCK is a Top 200 Franchise, Most Innovative Franchise, Top Franchise for Women, Recession-Proof Franchise, Culture Award Winner, Franchise Rock Star, and Hall of Fame Winner. With more than 35 years of experience, the company continues to pave the way in the moving industry with innovative ideas and processes. TWO MEN AND A TRUCK empowers franchisees with agile and customized service offerings and continues to conduct research on logistics and technology so franchise owners can deliver the highest-quality service and experience to customers.
Bobby Simpson, of Frederick, Maryland, spent his career on the road driving trucks before purchasing a TWO MEN AND A TRUCK franchise in 2019. “It took a lot of work and help from the home office to get digital advertising up and running because people had not yet heard of TWO MEN AND A TRUCK in my area,” he said “The home office helped me bring in leads and get the phones ringing. The rise in demand quickly grew the business from two employees to 20. I could actually use 10 more people right now! We really don’t stop hiring.”
Top Franchise Sectors in Innovation by Median Pre-Tax Income
The median pre-tax income is $101,187
The median investment is $112,638
The median pre-tax income is $95,242
The median investment is $102,943
3. Business Services franchises
The median pre-tax income is $91,603
The median investment is $124,658
Our Methodology for Choosing the Most Innovative Franchises
Not all brands willingly open their doors to an independent research firm like Franchise Business Review, but those who do can offer investors a wealth of information on the system’s leadership, culture, training and support, financial outlook and franchisee community. Franchise brands cannot pay for exposure on any of our lists. We determine our the best franchises based purely on our independent surveys.
Franchise Business Review surveys over 30,000 franchise owners across more than 300 leading franchise brands to recognize the top franchises based on franchisee satisfaction. Franchise owners answer a 33-question survey that covers myriad aspects of the business. To determine which franchises rank highest in innovation, we ask respondents to rate the brand’s level of innovation and creativity, the level of trust they have in their franchisor, and the overall business opportunity with the franchise. This year’s list of Most Innovative Franchises recognizes brands that demonstrate the ability to innovate and adapt to the changing market, economy, technology, and environment.