All franchise buyers do varying degrees of due diligence before investing in a brand. The difference is that today more and more prospective franchisees are looking at franchisee satisfaction data in addition to financial benefits, lifestyle, and the training and support they’ll receive.
“There is such a wide array of franchise opportunities available, so to narrow down our options, we determined a handful of key factors that the franchise must meet. These included a set work schedule—so we could work Monday to Friday, 9 a.m. to 5 p.m.; never doing the same thing twice; franchisee satisfaction—we wanted access to an independent survey to learn about [potential franchisors’] relationships with their franchisees; national advertising funds in which franchisees had a say in how the money was spent; and franchisee support, where corporate was a professional, true partner to all franchisees.”
FASTSIGNS, along with hundreds of other franchises, participates in Franchise Business Review’s franchisee satisfaction market research. FBR’s unbiased, third party data enables it to do two things: The first is to measure its franchisee satisfaction and make internal business decisions based on the data. The second is to be able to show prospective buyers how FASTSIGNS’ current franchisees rate the brand in categories they care about most including franchise support, franchisee-franchisor relations, franchise operations, financial opportunity and more.
Watch this video clip to see how three top franchise systems, including FASTSIGNS, use their franchisee satisfaction data to help them grow their brands.
While no system is perfect, sharing third party franchisee satisfaction data with candidates shows them that you believe in transparency and work consistently toward addressing the issues that matter to your franchise owners.
Find out how you can start measuring franchisee satisfaction today in a way that will improve operations as well as franchise sales. Reach out to schedule a conversation.