Research based on confidential interviews with franchisees
Lots of lists rank the "best" franchise brands. But what about compiling a list of best franchises by going straight to the franchisees and asking them? That's just what the Franchise Research Institute has done with its new list of "25 World-Class Franchises for 2012."
The group has been doing the survey annually for the past decade. Researchers contact franchisees, interview them, and guarantee confidentiality. The results are published at the beginning of each year.
The goal of the Institute is to identify and recognize excellence in franchising. Jeff Johnson, Franchise Research Institute's founder says, "There are a number of 'Best Franchise' lists published each year, but we recognize excellence by asking current franchisees to rate their experience as franchise owners, using solid, scientific research methodology."
But he says the key component to the research is the privacy factor. "The confidentiality of franchisee responses is critical, because franchisees are reluctant to say anything negative if they can be identified. Confidentiality reduces bias and 'false positive' responses," he says.
What's more, through its research the group has discovered that these list-topping franchise brands have a number of things in common:
They establish realistic expectations with candidates and then consistently meet or exceed these expectations.
They are very selective and only offer franchises to individuals that meet the "success profile" for their franchise.
They successfully transfer "franchise owner knowledge" to new franchises.
They provide ongoing training and support to existing franchisees.
They communicate with consistent clarity, and include franchisees in major decisions.
Their franchise offers an acceptable ROI for both the franchisor and the franchisee.
For franchise companies to make the list they must receive high scores in areas such as opening support, communication between franchisor and franchisees, initial and ongoing training provided to franchisees, product/service quality, and a dedication to overall company excellence.
According to Johnson, "A company can provide a terrific product or service which is well-received by the public, and franchisees can still fail. World-Class franchising requires a focus on franchisee success which in turn supports the success of the brand."
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