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There is no lack of "spin" or "hype" in the world of franchising. "Top Franchise," "Best Franchise," "Fastest-Growing Franchise"…..all of these designations can be confusing, or (in many cases) misleading, particularly for prospective franchisees.It is my steadfast belief that the most appropriate, most accurate way of measuring the quality of a franchise investment is by finding out what the system's franchisees really think. The only way for this to be meaningful is to include all franchisees (even those who have yet to open locations), and to remove the "fear factor" (as well as the desire to "get on the good side" of the franchisor) by guaranteeing complete confidentiality.
The Franchise Research Institute's recently published 2012 Compilation Report* takes a close look at the franchisee-satisfaction scores of its 25 World-Class Franchises. In a confidential franchisee opinion survey of top franchise opportunities, 92% answered positively when asked, "In general, how would you rate the overall quality of your franchisor?" Can this really be true when we hear so much negative information about franchising? YES, there is excellence in franchising and this is a glimpse at how the "Best of the Best" score when we look closely under the hood (at the fundamentals) and past the slick brochures and marketing pitches.
A key component in franchisee endorsement is the degree to which a franchisor successfully establishes, then meets or exceeds its franchisee's expectations. The all-encompassing "overall quality" question provides insight (without any specifics or qualifiers) about their overall impression of the franchise. The combined score encompasses all "Excellent," "Very Good," or "Good" responses but does not include "Average" or "Poor" ratings.
There are many, many stories of dissatisfaction, disputes, and litigation between 'zors and 'zees. This report provides empirical evidence that these companies are, in the eyes of their franchisees, "doing it right."
Methodology for the series of articles: Franchise Excellence
*The questions highlighted in this series of articles are taken from the 2012 World-Class Franchise Compilation Report, conducted by the Franchise Research Institute.
To be certified as World-Class, franchise companies must meet the following research requirements:
More details can be found at www.WorldClassFranchise.com.