When nearly 45,000 franchisees talk about their franchise systems, they have something to say. The 2008 Franchisee Satisfaction Awards presented by Franchise Business Review highlights those franchises whose validation among their franchisees was superior in the industry. According to Eric Stites, President of Franchise Business Review, franchisee satisfaction is a primary leading indicator of long-term system growth and success.
‘Knowing how satisfied current franchise owners are is a true measure for anyone looking at investing in a franchise business,’ says Stites. ‘Potential candidates can speak with individual franchisees, do research on one company at a time, but to get a broad picture of franchisee satisfaction is a very difficult task for individuals researching franchise opportunities. To compile the 2008 Franchisee Satisfaction Awards, Franchise Business Review conducted the largest industry survey in history.’
To measure franchisee satisfaction, Franchise Business Review surveyed franchisees from 325 franchise companies, representing 45,000 franchisees. Franchises were evaluated in 5 areas: Training & Support, Franchise System, Franchisor/Franchisee Relations, Financial Opportunity and Overall Satisfaction. Franchisees were asked a series of questions in these areas and then rated their franchisor on a scale of 1 (poor) to 5 (excellent). All franchisees from each participating franchise company were invited to take the survey. The average rate of participation was 50%, with some franchise companies achieving as high as 100% participation from their franchise owners. Read more.
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