The level of current franchisee satisfaction with any franchise is a primary leading indicator of future success
Omaha, NE (PRWEB) April 7, 2009
Franchisee satisfaction with their franchisor is a predictor of future success and should be considered when entrepreneurs are weighing the varied choices in franchising. This is especially true as tough economic times drive many who have been laid-off - or fear they may be - to consider a franchise business as an option.
"The level of current franchisee satisfaction with any franchise is a primary leading indicator of future success," said Eric Stites, President and CEO of Franchise Business Review. "Franchisee satisfaction is critical for anyone looking to invest in a franchise business."
In fact, he advises prospective franchise buyers to look very closely at satisfaction results before making a decision. And to help them make informed decisions Franchise Business Review has conducted a franchisee satisfaction survey for the past four years of more than 400 leading franchise systems, representing nearly 100,000 franchisees.
The survey covers topics ranging from training, support, marketing, operations and communication to franchisee/franchisor relations, financial opportunity and general overall satisfaction. These 2009 findings for many franchise concepts are posted and available for review at: http://www.franchisebusinessreview.com/.
Of the more than 2,500 active franchise systems in the U.S. and Canada, just 115 companies received the Franchisee Satisfaction Award in 2009 (representing the top 5 percent of all franchise companies).
Home Instead Senior Care Co-Founder and CEO Paul Hogan, representing a top franchise, advises prospective franchise buyers to look as carefully at the ethics and integrity ratings for the business. Combined with the likelihood that a franchisee would purchase a franchise with the same company again, these indicators are as important as the prospect for the franchise concept itself.
Home Instead Senior Care has been ranked best in the "Senior Care" category care for three consecutive years and second overall in the top 50 franchise - large business category. For a complete list of this year's award winners, go to http://www.FBR50.com.
About half of Home Instead Senior Care franchise owners participated in the 2009 Franchise Business Review survey ranking their satisfaction with the company's corporate culture and the promotion of honest and ethical business practices at 95.4 percent. When asked to rate the likelihood of making the same decision to invest in their franchise again, knowing what they know today, 89.9 percent said they would do it again.
"If you don't see a solid foundation of integrity in an organization that goes beyond mere words, a prospective franchisee should be very wary," Hogan said.
Home Instead Senior Care now has more than 800 franchises in 15 countries whose CAREGivers provide seniors with companionship and home care services such as meal preparation, light housekeeping, medication reminders, errands and shopping.
Industry experts say that franchising is still a viable business option in today's difficult economy. "With all the doom and gloom news about the economy lately, it's great to see that the very best franchise systems are still performing well for their franchise owners," according to Franchise Business Review's Stites.
"It is still a good time to buy a franchise business, assuming you choose the right one. This year's 115 award winners have a proven record of success and are clearly some of the top investment opportunities in the marketplace today," he added.