Fibrenew Certified a World Class Franchise
Leather and plastic restoration company credits flexible business model and franchise training program for recognition.
February 09, 2012 // Franchising.com // Fibrenew, the leading franchise specializing in leather and plastic restoration, has received World-Class Franchise® recognition from the Franchise Research Institute® and FranSurvey®. The recognition comes after an independent survey in which over 75% of Fibrenew franchises participated. The survey was designed to determine the level of franchisee satisfaction with the Fibrenew franchise system.
“We appreciate this recognition from The Franchise Research Institute because understanding what a franchisee thinks, through confidential surveys is vital to knowing what is and is not working within the system,” says Michael Wilson, CEO of Fibrenew. “Fibrenew is proud of the training and support as well as the flexible business model we’ve developed through the years with our franchisees but we know we can always improve the system and this information will help us do that.”
Fibrenew specializes in the repair, refurbishing and renewal of leather and plastics, servicing five major markets: aviation, automotive, commercial, marine and residential. Fibrenew has expanded its business model to include work for insurance and warranty companies, repairing and restoring items at a fraction of the replacement cost. The company is also entering the health care industry, repairing exam room furniture in hospitals and medical offices. In the past, medical offices replaced the damaged furniture because the exposed cushiony foam in damaged and worn furniture can become a breeding ground for germs. Fibrenew’s technicians refurbish the furniture at a fraction of the cost, keeping healthcare costs lower and eliminating the health risk.
“A company can provide a terrific product or service which is well received by the public and franchisees can still fail,” says Jeff Johnson, found of The Franchise Research Institute/FranSurvey. “World-Class franchising requires a focus on franchisee success which in turn supports the success of the brand. We recognize success by asking current franchisees to rate their experience as franchise owners using sold, scientific research methods.”
Some of the criteria used by The Franchise Research Institute to certify World-Class Franchises include:
- They establish realistic expectations with candidates and then consistently meet or exceed those 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 and acceptable ROI for both the franchisor and the franchisee.
“Fibrenew offers franchisees a lifestyle business, which an innovative, hands-on training program and a flexible business model in which franchise owners can be their own boss,” adds Wilson. “In addition, franchise owners run a truly green business in which items are refurbished instead of sent to the landfill.”
Fibrenew has nearly 200 franchises in nine countries and is consistently rated a top franchise by Entrepreneur magazine.
Fibrenew, founded in 1985 in Canada, is an international franchise company that specializes in the renewal of leather and plastics, servicing five major markets: aviation, automotive, commercial, marine and residential. There are nearly 200 Fibrenew locations in 9 countries around the world. As a global leader in the environmental movement, Fibrenew prevents thousands of tons of leather and plastics from entering landfills. Fibrenew also supports initiatives that give opportunities to women in third world countries. For more information visit www.fibrenew.com
About the Franchise Research Institute
Franchise Research Institute® and FranSurvey® were founded in 2002 to study and promote franchise excellence. As a full service research firm focused on franchising, we perform franchisee satisfaction research in the U.S. and world-wide. Existing franchisees as consumers can evaluate their franchise as a business opportunity. World-Class Franchise® opportunities must demonstrate that they have the support and endorsement of their franchise owners through confidential surveys.