LOUISVILLE, KY (PRWEB) September 24, 2013
FranNet, America’s most respected leader in matching individuals with franchise opportunities through a free and extensive educational and coaching process, has been awarded a high honor as one of Franchise Business Review’s Top Low-Cost Franchises, marking continued prominence for the franchise consulting brand.
“We are thrilled to be selected as a top low-cost franchise especially from such a well-respected research firm,” said Jania Bailey, FranNet’s President and COO. “While this is a great honor to receive, I think it helps tell the larger story about how FranNet can specifically serve tomorrow’s franchise business leaders – by offering no-cost counsel regarding business decisions while growing professionally at the same time.”
The selections were awarded based on the highest owner satisfaction within respective industry categories. FranNet, which is in the “Business Services” section, was one of 11 brands selected nationwide for its particular category.
According to Franchise Business Review, it bills itself as a national market research firm performing independent research of franchisee satisfaction. Products include franchisee satisfaction reports, economic impact studies, customized surveys, sector studies, and other projects and services focused on driving franchise performance.
To compile the data for the report, they surveyed over 11,000 franchisees, representing more than 145 low-cost brands and 29,585 franchise units and/or locations that are North American-based franchise companies with at least 10 operating franchisees. From this data, they identified the list of franchises with above average satisfaction.
To do so, they contacted all active franchisees within a franchise system and asked them to complete the satisfaction survey. Franchisees answered 33 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 their market area, demographics, business lifestyle, overall enjoyment running their franchise, and role in the franchisee community.
“Our network of franchisees consistently say working at FranNet is not only a good place to grow a career, but also a very rewarding one because it gets to the business of helping people enrich their lives,” Bailey added.
Through a free educational process that includes a personal franchise assessment, FranNet consultants determine which potential franchisors fit that individual’s needs, skillsets and business goals. The accuracy of the FranNet process is in the numbers; during the worst economic conditions in America in 70 years, FranNet found positive results from surveying nearly 1,300 franchisee placements the company made between 2006 and 2010. Of those, nearly 92 percent were in business after two years, compared to about 64 percent of other small businesses. Additionally, nearly 85 percent were still in business after five years, compared to about 50 percent of other small businesses.
FranNet is North America’s most respected leader in matching individuals with franchise opportunities. Based in Louisville, KY., FranNet has more than 100 consultants across North America who use a proprietary profiling and consultative process to determine a business model unique to each client’s goals, skill sets and interests, and has matched thousands of entrepreneurs to rewarding small business opportunities. FranNet has been recognized by INC magazine as one of the fastest growing private companies in America for the last four years.