More From Allegra About Their Best of the Best Ranking
Press release from the issuing company
Troy, Michigan, May 21, 2003 -- Based on the company's financial strength, stability, growth rate and size, Allegra Network, one of world's largest printing franchises, was ranked as the best in its industry and the 20th fastest growing franchise in Entrepreneur Magazine's 24th Annual Franchise500.
Despite challenging economic times and a consolidating market, Allegra Network also ranked 54th overall among the 2003 Franchise 500. As the best of the best in its category, Allegra Network was featured in both the January and April issues of the magazine.
During a time of serious financial challenges for numerous small and large businesses alike, Allegra Network has consistently demonstrated significant progress and growth. Following the acquisition of Insty-Prints early last year, the company increased its system-wide sales by 53%, growing to $287 million. This acquisition, in addition to the ongoing and new support programs available to its franchise members, continues to fortify the company as a leader in the industry as well as in the franchise community.
President and CEO Bill McIntyre commented, "We are fortunate to have so many dynamic people in our network of franchise members who embrace ever-changing technology and, in turn, provide comprehensive solutions to meet their customers' print communications needs. We look forward to another successful year of growth and market penetration."
As printing sales continue to grow, the company's median sales and profits have increased over the past 10 years attributable in large part to its emphasis on franchisee profitability through its Profit Mastery program, consisting of Performance Groups, an annual Operating Ratio Study, individual Profit Mastery Assessments and a new program being introduced this year, the Advanced Management Program.
International Franchise Association (IFA) President Don DeBolt believes that difficult economic times in 2003 will motivate more business people to control their professional lives by becoming franchisees.
In fact, interest in franchising opportunities has increased by 50 percent from last year due to corporate downsizing, layoffs, and a slow economy, according to Dick Munson, a strategic business advisor with FranNet, which matches aspiring entrepreneurs with franchisors.
"Franchising's appeal continues to grow," IFA President Don DeBolt said. "This is even more evident during economic downturns, when people look for ways to have greater control over their destinies."
Franchised small businesses span 75 diverse industries; combined, they generate an estimated $1 trillion in retail sales annually and employ nearly eight million people in the United States alone.
Allegra Network, with nearly 500 locations in North America, Japan and Poland, supports eight brands including Allegra Print & Imaging, Allegra Digital Imaging, American Speedy Printing, Instant Copy, Insty-Prints, Quik Print, Speedy Printing, and Zippy Print. The company ranks in the top 100 in sales among all franchise companies in the world. Their independently owned franchises specialize in full-service print and graphic communications. Principal shareholders include members of Allegra Network management and Domino's Pizza founder and former CEO, Thomas S. Monaghan.
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