FASTSIGNS Named a Top Recession-Proof Business for 2023 by Franchise Business Review
Leading Sign and Graphics Organization Named a Top 100 Recession-Proof Franchise for Third Consecutive Year
CARROLLTON, Texas, May 4, 2023 /PRNewswire/ -- FASTSIGNS®, the leading sign, graphics and visual communications franchise, was recently named a top franchise by Franchise Business Review in its report on the Top Recession-Proof Franchises for 2023. Companies featured on the list not only have outstanding satisfaction among their franchise owners, but also demonstrate a strong potential to outperform their competitors during challenging economic times.
"FASTSIGNS is proud to offer our franchisees world-class support as they navigate business ownership during turbulent times, and this award is a testament to the value of our franchise network and business model," said Mark Jameson, chief development officer at Propelled Brands. "With an uncertain economic landscape, having the largest, most sophisticated and recognized brand by your side can be tremendously helpful in navigating those challenges. As the need for visual communications continues to increase, FASTSIGNS serves more than 30 industries with our business model that is able to thrive in any market condition. We are proud to offer our network the tools and resources they need to find success."
Franchise Business Review (FBR) provides the only rankings of franchises based solely on actual franchisee satisfaction and performance. More than 36,000 franchisees representing over 365 franchise brands participated in Franchise Business Review's franchisee satisfaction survey over 18 months. From the research, FASTSIGNS was one of just 100 franchise brands to be identified as a Top Recession-Proof Franchise award winner and be featured on the list of the best recession-proof franchises.
"FASTSIGNS has a broad range of products and services that are needed in all kinds of economic environments by a large variety of businesses and organizations," said Al Cothern, FASTSIGNS franchisee of West Palm Beach, Florida, who opened his first franchise during the previous recession in 2009. "It is a very profitable business and the start-up costs were within my means. The sign and graphics industry is more insulated from a recession than some other businesses, and with a proven business model, finding success with FASTSIGNS is mainly a matter of execution."
Last year was the brand's most successful year-to-date with FASTSIGNS surpassing $700 million in network sales for the first time, underscoring FASTSIGNS' adaptability to a rapidly-changing business environment and economy and the continued demand for signage and graphics, making it a recession-resistant business. FASTSIGNS is continuing to grow with record success with franchise sales, having signed 10 new franchise agreements in the first quarter this year.
The brand also recently announced plans to expand its co-brand and conversion programs to help small businesses in the sign or adjacent industries navigate operating in a recession. The co-brand and conversion programs offer independent businesses the resources and support of a recognizable brand and access to FASTSIGNS' extensive network and successful business model.
FASTSIGNS franchisees were surveyed on 33 benchmark questions about their experience and satisfaction regarding critical areas of their franchise systems, including training & support, operations, franchisor/franchisee relations, culture, and financial opportunity.
FASTSIGNS' survey data showed the following:
- 92% of franchisees "strongly agree" or "agree" to respecting the franchisor
- 95% of franchisees are likely to recommend FASTSIGNS to others
- 95% of franchisees rate their local market competitiveness above average, +20% higher than the industry benchmark
"While no business is 100% recession-proof, these franchise businesses have demonstrated that they are highly recession-resistant based on historical performance," said Eric Stites, CEO of Franchise Business Review. "For people seeking to be their own boss, the Top 100 Recession-Proof businesses we identified this year not only have outstanding satisfaction among their owners—one of the most important factors to consider before investing in any franchise opportunity—but they have performed well in good times and bad, and we feel they hold a strong advantage to outperform their competitors in the years ahead."
For more information about FASTSIGNS®, visit https://www.fastsigns.com.
Visit FranchiseBusinessReview.com to see the full list of the Top Franchises of 2023.
About FASTSIGNS®
FASTSIGNS is a leading national visual ideas company that creates a wide variety of comprehensive sign and graphics solutions. With over 35 years of experience, FASTSIGNS helps you achieve more than you ever thought possible. We are the worldwide franchisor of more than 765 independently owned and operated FASTSIGNS® centers. FASTSIGNS locations span across the United States, Puerto Rico, the United Kingdom, Canada, Chile, Grand Cayman, Malta, the Dominican Republic and Australia (where centers operate as SIGNWAVE®). FASTSIGNS is frequently recognized for franchisee satisfaction and through franchising awards which include being ranked #1 on Entrepreneur's Highly Competitive Franchise 500® List for the Seventh Consecutive Year for 2023 as well as being named a 2023 Best-in-Category Franchise by Franchise Business Review.
In 2021, Propelled Brands was formed, and is now the multi-brand franchisor for FASTSIGNS®, NerdsToGo®, MY SALON Suite® and Salon Plaza® brands.
To learn more visit fastsigns.com. Follow the brand on LinkedIn at linkedin.com/company/fastsigns, Twitter @FASTSIGNS or Facebook at facebook.com/FASTSIGNS. For information about the FASTSIGNS franchise opportunity, contact Mark Jameson ([email protected] or call 214.346.5679).
SOURCE FASTSIGNS International, Inc.
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