The Most Satisfied Franchisees Are...
More than 28,000 franchisees representing 339 franchise brands were recently surveyed- and the results reveal a highly satisfied group.
Franchise Business Review, a franchise market research firm that performs independent surveys of franchisee satisfaction, has released its "2016 Best of the Best: Top 200 Franchises" list, the only ranking of franchises based solely on actual franchisee satisfaction and performance.
To identify the franchises that made its list as well as the latest trends in franchisee satisfaction, the company surveyed 28,000 franchisees representing 339 franchise brands. Franchisees who participated in the free survey were asked 33 benchmark questions about their experience and satisfaction regarding critical areas of their franchise systems including training and support, operations, franchisor/franchisee relations, and financial opportunity.
"Among the most important factors to consider before investing in a franchise is the satisfaction levels of current franchisees -- the true franchise experts," says Michelle Rowan, President of Franchise Business Review. "The research conducted by Franchise Business Review provides prospective franchisees with this information. It also shows franchisors where they are doing well and where improvements can be made, information they use to strengthen their systems."
Below are some of the key findings from the research:
- 2016's franchises with the most satisfied franchisees per industry: Proforma: Advertising & Sales; Christian Brothers Automotive: Automotive; FASTSIGNS: Business Services; JumpBunch: Child Services; Heaven's Best Carpet Cleaning: Cleaning & Maintenance; The Goddard School: Education; American Prosperity Group: Financial Services; The Exercise Coach: Fitness; Culver's: Food & Beverage; The Woodhouse Day Spas: Health & Beauty; Budget Blinds: Home Services; In Home Pet Services: Pet Services; Sotheby's International Realty: Real Estate; Wild Birds Unlimited: Retail; Home Instead Senior Care: Senior Care; Precision Concrete Cutting: Services; Pinot's Palette: Sports & Recreation; TeamLogic IT: Technology; and Cruise Planners: Travel.
- General state of franchisee satisfaction: 89% agree or strongly agree they enjoy operating their business; 81% said they would recommend their franchise brand to others; 83% agree or strongly agree they respect their franchisor; 77% would "do it again" knowing what they know today.
- The five most profitable franchise sectors: Senior Care, Real Estate, Health & Beauty, Business Services, and Food.
- The five franchise sectors with the most satisfied franchisees: Sports & Recreation, Advertising & Sales, Real Estate, Senior Services, and Services.
- Analysis of the top 20 franchise systems revealed the following:
- - Over 94% of franchisees believe (agree or strongly agree) their franchisor acts with a high level of Honesty & Integrity, compared to 80% of all other franchisees surveyed.
- - They outperformed the overall benchmark by 28% in the Training & Support category.
- - Their franchisees reported more flexibility in their schedules--78% said their schedules were flexible or very flexible compared to 68% of all other franchisees.
For more information about the report visit www.FranchiseBusinessReview.com.
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