Franchise Buyers Increasingly Care About Franchisee Satisfaction
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.
Entrepreneur profiled FASTSIGNS franchise owners Woody Poole and Milton Guerrero, who named franchisee satisfaction as one of the key factors in choosing a franchise.
“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.”
And we’ve heard firsthand from many others, like Wild Birds Unlimited franchisees Vikki and Mike Bartholomae and TWO MEN AND A TRUCK franchisee Chris Willems, who share that franchisee satisfaction data was a significant part of their decision-making processes.
FASTSIGNS, Wild Birds Unlimited and TWO MEN AND A TRUCK, along with hundreds of other franchises, participate 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 current franchisees rate the brand in categories they care about most including franchise support, franchisee-franchisor relations, franchise operations, financial opportunity and more.
Watch these clips to see how 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.
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