Following is the list of the world’s top 10 franchises for the year 2008. The list is part of the Franchise 500 ranking, which has been established since 1980, and is published by the Entrepreneur.com website.

The Franchise 500 is widely considered as the best and the most comprehensive rating of the franchise companies in the world.

The companies are carefully judged mainly through a number of quantifiable measures, which cover the financial strength, growth rate, stability, the length of business operation as well as the business size. Other factors taken into account also include startup cost, failure rate (termination), and financing access to aspiring franchisees. All financial data is also audited by qualified, independent Certified Public Accountant (CPA).

1. 7-Eleven

The company started its first operation in 1927 in Dallas as a small, improvised outlet selling grocery and convenient items such as bread and milk. The name 7-Eleven came about due to its initial operating hours which was between 7pm to 11pm. A 24-hour store was first opened about 30 years later and soon it began to gain popularity. The company almost went bankrupt after facing financial turmoil in the 80s but was bought over by a Japanese corporation, Ito-Yokado which remains the largest share holder until today.

By mid of 2007, 7-Eleven replaced McDonald’s as the corporation with the world’s largest number of outlets. The company operates in more than 15 countries worldwide, with its biggest customers coming from the United States, Japan, Taiwan and Thailand.

2. Subway

Subway is a fast food restaurant selling mainly sandwiches and salads to urban folks. The company has undergone a tremendous growth in the recent years, and as of today is the fastest growing franchise in the world. Subway’s speedy growth is mainly attributed to its ability in attract health conscious consumers who are beginning to look for better fast food options and alternatives.

There have been stories of people losing weight by mixing their exercise with the consumption of Subway’s meals and the company took full advantage in their marketing to promote their products. Subway was established by 2 smart guys in the science field. One of them graduated with a PhD.

3. Dunkin’ Donuts

Dunkin’ Donuts was officially founded in 1950 in Massachusetts by William Rosenberg, and was turned into a franchise after five years of operation. However, this was not the first major success achieved by Rosenberg. Prior to opening the donut store, he has already been successful in two different food businesses.

Today, Dunkin’ Donuts claims itself as one of the world’s largest chain of coffee and baked goods with more than 7,000 stores operating worldwide, serving close to 3 million customers per day. Dunkin’ Donuts, which serves muffins, bagels, coffees and other type of drinks (apart from donuts of course) is also considered a competitor for Starbucks coffee house.

4. Pizza Hut

Believe it or not, the multi-million Pizza Hut chain was started with merely 600 dollars. Two college brothers and students by the name of Dan and Frank Carney was captivated with the idea of selling home made pizzas to the students. With the $600, they bought second hand equipment, together with the family-inherited recipe, and they were on their way.

Little did they know that the small pizzeria business would soon grew and became one of the world’s most famous pizza brands. Altogether, Pizza Hut has more than 30,000 outlets worldwide, which include restaurants, delivery-carry out and kiosks. The company has market presence in more than 100 countries.

5. McDonald’s

In fifth position is still a food franchise, and a popular one too. What else if it is not McDonald’s? The company, which is famous for its burgers (hamburgers, cheese burgers, Big Mac and so on), fries, ice creams, desserts and others, has one of the largest restaurant chains in the world, which provide daily food for almost 50 million customers worldwide.

Contrary to popular opinion, McDonald’s was not founded by Ray Croc. Rather, Ray Croc was the one who bought the equity of the company and spearheaded a worldwide domination and penetrating every level of the community. The original McDonald’s was established by siblings Dick and Mac McDonald’s, before the company was bought over by Ray 15 years later.

6. Sonic Drive In Restaurants

Another fast food restaurant. Established in Oklahoma in 1954 under the name of Top Hat, the company turned franchise after 5 years of successful operation, and has never stopped since. In the earlier years, the company sold beers and later evolved to offer a broader range of food and meals.

After the founder, Troy Smith introduced a drive-in concept, sales started pouring and revenues grew multi-fold. Sonic Drive underwent its most remarkable growth between 1960s to 1970s and became the craze of the days, especially the youth. Majority of the drive-in outlets are operated by franchisees, which were are also the managers or the partners of the company.

7. KFC (Kentucky Fried Chicken) Corp.

Remember KFC, remember the famous Colonel Sanders’ hardship story. Fresh from retirement, he was looking out for some small venture to try making some money. Backed by his learning experience as a chef, Sanders introduced the pressure frying method which allowed chicken to cook faster than the normal pan-frying way, and tasted better too.

The company’s specialty products come in a broad range of chickens, cooked and served in various forms. The major two types are the original recipe and spicy (or extra crispy). KFC also hires one of the most creative and fast thinking personnel who often come out with fresh ideas to market their newly introduced products.

8. InterContinental Hotels Group (IHG)

InterContinental Hotels Group is one of the two companies in the top 10 list which is not in the food business. Listed in the London Stock Exchange, it is a multinational corporation that owns a number of reputable hotel brands. In its franchise business operation, the company offers its expertise in the hotel management, sales and marketing, and system management.

Some of its hotel brands include the Crowne Plaza, Holiday Inn, Indigo, InterContinental and others. And with a total of more than half a million rooms offered by more than 3,000 hotels, IHG is clearly the world’s largest hotel chain. However, the group only owns 18 hotels, while the rest are owned and operated by its franchisees.

9. Domino’s Pizza

Just like Pizza Hut, the formation of Domino’s Pizza has a lot of similarities. Backed by only US500, the sibling founders, Tom and James Monaghan bought over an ailing pizza store in Michigan, and marketed their products to mainly students in colleges and universities. One of them, James, pulled out from the business a year later, leaving Tom alone.

Tom went on to drive a remarkable turnaround and eventually made Domino’s Pizza as the household name not only in the United States but in various other countries and continents including Canada, Europe, Asia and Africa. One of the flagship benefits offered by Domino’s Pizza is the 30-minute guarantee, where customers would receive free pizza if their orders take more than 30 minutes to be served.

10. RE/MAX International

Perhaps the least known franchise in the list. RE/MAX is a privately-held firm specializing in real estate industry, particularly the residential and corporate property. It was established by two siblings by the name of Gail and Dave Liniger in 1973 and started their very first office in Denver. It is backed by a 350-strong employees, and is based in Colorado.

In RE/MAX franchise operation, the agents, under each franchise office, are responsible for the operation, and are entitled for a certain percentage of the commission. The company has an international network of more than 100,000 agents across more than 65 countries worldwide.

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