Payroll Vault Ranked Among Top Franchises In Entrepreneur’s Highly Competitive Franchise 500®

The 43rd annual Entrepreneur Franchise 500® is a highly sought-after honor in the franchise industry. Recognized as an invaluable resource for potential franchisees, this is Payroll Vault’s third straight year being ranked on the list for its outstanding performance in areas including unit growth, financial strength and stability, and brand power. Unit growth is up 55 percent over the last three years for Payroll Vault.

“We are always thrilled and humbled to be recognized as a top franchise by the Franchise 500, but to make this competitive list for the third straight year during a pandemic that has turned so many businesses on its head is even more gratifying,” says Payroll Vault Founder and CEO Sean Manning. “Our mission to help businesses navigate the most challenging payroll processes and workplace management trends we have ever seen was absolutely critical this past year for both our clients and our franchisees, and we are very proud of our success.”

Over its 43 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees.

“The past year has been one of the most challenging for businesses in recent memory, which made putting together our 43rd annual Franchise 500 list more enlightening than ever,” says Entrepreneur Editor in Chief Jason Feifer. “The companies named to this year’s list showed us how being resilient, supportive, and nimble can help navigate extraordinary challenges and also underscore the grit and innovation that define entrepreneurship.”

In Entrepreneur’s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s 43-year-old ranking formula continues to evolve as well. The editorial team researches and assesses several factors that go into the evaluation, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.