School of Rock was named among the top 50 Most Profitable Franchises and the top 100 Most Innovative Franchises by Franchise Business Review in its 2023 report.
“To be named among the Most Profitable and Top 100 Most Innovative Franchises of 2023 underscores our unwavering dedication to delivering outstanding music education while also ensuring the success and satisfaction of our franchise owners,” said Rob Price, CEO of School of Rock. “We are driven by our mission to enrich lives through music and we'll continue to innovate and grow guided by the feedback and trust of our franchise family.”
School of Rock was among the 385 franchise brands, representing nearly 38,000 franchise owners, that participated in Franchise Business Review research for this year's Most Profitable Franchises and Most Innovative Franchises. School of Rock franchisees were polled on 33 benchmark questions for each survey about their brand's experience and overall satisfaction, the brand's innovation and creativity, as well as their trust in the franchisor and likelihood to recommend it to others.
“Owner satisfaction, profitability, and long-term return on your investment are three of the most critical factors anyone should consider before investing in any franchise business,” said Eric Stites, founder and CEO of Franchise Business Review. “If you take the time to do your research, you have a much better chance of finding a franchise that offers both a strong financial opportunity, as well as extremely high satisfaction among their franchise owners. Our goal is to assist prospective franchise owners by providing an independent rating of franchise opportunities based on feedback from current franchisees. The companies on the list of the Most Profitable Franchises offer a better than average shot at growing your income and received the highest ratings on our independent franchisee satisfaction survey.”
Franchise Business Review, a research firm that performs independent surveys of franchisee satisfaction, provides the only ratings of franchises based solely on actual franchisee satisfaction and performance. Franchise Business Review publishes annual rankings of the top franchises in its Guide to Today’s Top Franchises, as well as guides throughout the year ranking the top franchises in specific sectors.
“For prospective franchisees, understanding which brands are the most innovative can help you make a confident and smart investment,” said Michelle Rowan, president & COO of Franchise Business Review. “Each of the companies on our list of the Most Innovative Franchises has developed and implemented products, processes, or services that enable and sustain growth and long-term relevancy. We are proud to recognize the franchises that prioritize and value innovation to support their franchisees’ success and the long-term resiliency of the brand.”
School of Rock maintained its impressive upward trajectory in 2023, with significant increases in both sales and enrollment. The average franchised School of Rock in the United States saw a 29% increase in same-school sales compared to the previous year, while average enrollment per unit increased from 170 to 192 students. These figures reflect a thriving brand with a growing global presence. School of Rock currently has over 62,000 students enrolled across 350 open schools spanning 15 countries, with hundreds of additional locations in development.