“What you hear about most are the trendy concepts like gourmet burgers and frozen yogurt, but three of the top brands on our list—Hwy 55, Black Bear Diner, and Checkers & Rally’s—pride themselves on their traditional style and service."
Portsmouth, NH (PRWEB) September 22, 2014
A report out today from Franchise Business Review takes an in-depth look at food franchise opportunities and ranks companies based on the satisfaction of franchisees.
Based on a survey of franchisees at close to 100 brands, Franchise Business Review names the top food franchises based on franchisee satisfaction—a list that includes Kona Ice, Ground Round Grill & Bar, Hwy 55 Burgers Shakes & Fries, Checkers & Rally’s, and Firehouse Subs.
The research also looks at an array of franchise concepts to assess the investment opportunity and success attributes of franchisees, as well as the outlook for food franchising in 2015.
“What you hear about most are the trendy concepts like gourmet burgers and frozen yogurt, but three of the top brands on our list—Hwy 55, Black Bear Diner, and Checkers & Rally’s—pride themselves on their traditional style and service,” said Franchise Business Review president Michelle Rowan.
The food industry lags behind other industries when it comes to franchisee satisfaction, Franchise Business Review reports. However, satisfaction at the top companies featured in the report actually exceeds FBR’s benchmark for all industries.
The food sector is not for the faint of heart in terms of what it takes to run and operate a successful business,” reports Franchise Business Review.
Food is typically one of the more expensive sectors for franchise ownership (the median investment range for a food franchise is $250,000 - $540,000), so Franchise Business Review advises prospective franchisees to be well-funded not just for start-up but for the first several months of business.
Franchise Business Review’s report also provides a look at what the typical food franchisee looks like:
- 57% are single-unit owners; 10% own 5 or more units
- 8% are military veterans
- 68% work 40 or more hours per week
- 45% “almost always” work weekends
- 66% consider their schedules flexible or very flexible
- 61% are between the ages of 35 and 54
- 64% have at least a bachelor’s degree level education
About Franchise Business Review
Headquartered in Portsmouth, NH, 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.
To research a franchise company, FBR contacts every franchisee via phone or email and invites them to take part in an independent survey. Survey participation averages well over 50%, and in many cases, participation will be as high as 70, 80, or even 90%. Franchisees answer 37 benchmark questions ranking their franchise system in the areas of financial opportunity, training and support, leadership, operations and product development, core values (e.g., honesty and integrity of franchisor), general satisfaction, and the franchisee community.
An additional 16 questions ask franchisees about the franchisee’s market area, demographics, business lifestyle, overall enjoyment running the franchise, and role in the franchisee community.
Franchise Business Review does not charge a fee for our base survey or awards. Any franchise company with at least 10 operating franchisees can participate in our research at no cost, and the companies listed in FBR’s reports are based solely on franchisee satisfaction ratings.
Visit http://www.franchisebusinessreview.com or call (603) 433-2270 for more information.