|Maura C. Tobias
WILBRAHAM, Mass. (Feb. 27, 2006)- Friendly's ranks among the 25 best performing franchises in the United States, according to the Wall Street Journal's Feb. 23 "Startup Journal."
Friendly's was one of only eight restaurant companies to make the elite ranking, which looked at 1,458 franchises and was compiled for the online edition of the Wall Street Journal (WSJ.com) by independent research firm FRANdata.
According to the story, the list included only franchises with detailed, audited brand performance information that are "well-established, have experienced leadership, exhibit overall financial health and have a proven record of franchising success."
Among the factors that distinguished Friendly's and the other top performers were financial soundness, including a favorable franchisess net income/shareholders' equity ratio; the number of additional franchise units projected; unit cancellations, and the presence of top executives with "significant" experience at the company.
"We are extremely gratified that Friendly's has been selected as one of the top performers among the staggering number of franchise brands that exist," said.
John L. Cutter, CEO and President of Friendly's. "Making our franchise system -- and each and every entrepreneur in that system - successful is at the core of our business strategy. Together, Friendly's and our franchise partners have built a strong organization, and we have an even stronger future. We're delighted that respected industry experts have recognized this."
Friendly's has 41 franchise partners and 206 franchise restaurants.
Friendly Ice Cream Corporation (Amex: FRN) is a vertically integrated restaurant company serving signature sandwiches, entrees and ice cream desserts in a friendly, family environment in more than 520 company and franchised restaurants throughout the Northeast. The company also manufactures ice cream, which is distributed through more than 4,500 supermarkets and other retail locations. With a 70-year operating history, Friendly's enjoys strong brand recognition and is currently revitalizing its restaurants and introducing new products to grow its customer base.
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