“While we’ve seen significant improvement in franchisee satisfaction in general, ratings in the area of training and support services provided by franchisors have shown the greatest improvements—increasing by 15% year-over-year."
Portsmouth, NH (PRWEB) February 14, 2011
Based on a survey of more than 10,000 franchisees representing more than 300 franchise brands, the 2011 award winners represent a variety of franchise concepts, including a junior golf program, a mosquito elimination company, and a pool player association. The top two franchisors—Home Instead Senior Care, a provider of home healthcare, and Heaven’s Best, a carpet and upholstery cleaning business—are repeat award winners.
“Are we seeing higher satisfaction rates as the economy improves? Absolutely,” said Franchise Business Review president and CEO Eric Stites. “But many of the award-winning companies have maintained great satisfaction scores throughout the recession and only continue to improve. It’s very telling when you see a franchisor with impressive franchisee satisfaction even when the economy is struggling.”
Franchise Business Review awards the Top Franchises awards annually to franchisors with the highest overall franchisee satisfaction according to an annual survey of operators. Franchisors request the free survey, which is offered to all active franchisees who have been in business for at least three months. The survey includes 33 benchmark questions, relating to the franchisee’s experience and satisfaction as well as market area, business lifestyle, and other demographic questions. Franchise Business Review contacts each franchisee individually with an average franchisee participation rate of 70%.
The survey revealed some promising findings in terms of franchise operator satisfaction. General franchisee satisfaction is up across the board by 8 percent—a significant increase compared with previous years. When it comes to financial performance, franchisee satisfaction is up 7 percent.
“We’re seeing strong improvement across the board in franchisee satisfaction from a year ago. Small businesses are leading the economic recovery, and franchisees are obviously feeling a positive impact,” Stites said. “While we’ve seen significant improvement in franchisee satisfaction in general, ratings in the area of training and support services provided by franchisors have shown the greatest improvements—increasing by 15% year-over-year. Many franchisors have stepped up the support of their franchisees during these challenging economic times, and this has clearly made a huge difference.”
This is the first year Franchise Business Review is naming an overall Top 50 franchises, in addition to award winners within different business categories.
“In six years, the ‘FBR50’ has grown to include close to 50 companies in each of our size categories—small, medium, and large. We’re seeing an impressive increase in the satisfaction scores and the number of companies with satisfied franchisees,” Stites said.
Franchise Business Review publishes reports throughout the year on the top-rated companies and industry segments within the franchise marketplace. Many of the franchise companies that are researched use Franchise Business Review’s Franchisee Satisfaction Index (FSI)™ to benchmark their annual performance. Franchise Business Review consults with these franchise systems to assist them in improving their operational and franchisee performance by sharing industry best-practices.
About Franchise Business Review
Franchise Business Review is a national franchise market research firm that performs independent surveys of franchisee satisfaction and franchise buyer experiences. The firm’s services include commissioned franchise research projects, as well as industry-wide studies of franchisee satisfaction. Franchise Business Review is headquartered in Portsmouth, NH, and can be reached at (603) 433-2270.