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Updated RecentlyKona Ice Soars To New Heights On Entrepreneur Magazine's 40th Annual Franchise 500 List
By Katie Gibbons | Wednesday, January 23, 2019
Kona Ice announced today that it has been named to Entrepreneur magazine's Franchise 500 list, considered the world's first, best and most comprehensive franchise ranking. Kona Ice has been rated number #1 in the Frozen Desserts category in the Food: Quick Service Restaurants section and #67 overall.
The prestigious award validates the progress the company has made in the past year. In 2018, the brand added nearly 150 new trucks, bringing the total to more than 1,000 trucks plus 250 Minis (the brand's miniature version of the truck able to go indoors) to communities throughout the United States. "It's been an honor to earn a spot on this list for multiple years in a row now," said Tony Lamb, founder of Kona Ice. "Our growth has been a team effort, and as we surpassed 1,000 trucks in 2018, we have no plan to slow down. We're looking forward to introducing more communities to the Kona Ice experience in 2019."The key factors that go into Entrepreneur's evaluation include costs and fees, size and growth, support, brand strength, and financial strength and stability. All franchises are given a cumulative score based on more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order.
"As we celebrate 40 years of producing the Franchise 500, it's a good opportunity to step back and look at how much has changed since that first ranking in 1980," says Jason Feifer, editor in chief of Entrepreneur. "While the franchise business model has changed little, the strongest franchise brands are constantly evolving and innovating to keep up with changing trends and technology."
Bringing tropical tunes and cups of shaved ice everywhere it stops, Kona Ice offers its distinctive blend of entertainment and gourmet frozen treats across 47 states.
Providing entrepreneurs interested in investing in the franchise a full suite of support services ranging from initial and ongoing training to sales and marketing programs, the Kona Ice investment ranges in price from $117,125 "" $135,925. An initial franchisee fee of $20,000 is required, and finance programs are in place to support qualified entrepreneurs in their Kona Ice investment. Over its 40 years in existence, the Franchise 500 has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Kona Ice's position on the ranking is a testament to its strength as a franchise opportunity. Equally as appealing as the icy treats that the brand offers is its philanthropic commitment in the communities it serves. Nationwide, Kona Ice has donated more than $60 million to community-based organizations since the launch in June 2007.
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