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Troy, Michigan, May 16, 2003 |
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Despite challenging economic times and a consolidating
market, Allegra Network LLC, 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
Franchise 500 ranking.
Based on the company's financial strength, stability, growth
rate and size, Allegra Network also ranked 54th among the
overall Franchise 500.
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."
The profitability of the company's franchisees has increased
in each of the last four 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, Insty-Prints, Quik Print, Speedy Printing,
and Zippy Print. The company ranks in the top 200 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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