Published September 15, 2023
Three franchisees explain how franchisee satisfaction data helped them choose which brand to invest in.
Before investing in a franchise, smart buyers always conduct some due diligence. Today, more than ever, an increasing number of individuals considering franchising are factoring in franchisee satisfaction data, financial benefits, lifestyle implications, available training and support, and overall culture.
At Franchise Business Review, we’ve interviewed franchise owners who used FBR’s research and reports to find their dream franchise. We understand prospective franchise buyers want to see more than surface-level pitches. They want to understand the experiences of existing franchisees, the level of support offered by the franchisor, and the culture within the franchise network. Franchisee satisfaction becomes the key to unlocking this valuable insight.
HomeWell Care Services franchisee, Dan Caldicott, says it best. Here’s how he researched and bought his franchise with the help of FBR data.
Dan: “Organic online research landed us on the FBR website and other sites that rated franchises across certain measures. This was part of the 30,000 feet of education we needed to assess each business opportunity. FBR’s website helped educate us on a high level, but also at a deeper level, to see how certain industries and brands would translate into our day-to-day lives and livelihood.”
Being able to see how a brand’s franchisees rated them in the areas most important to their success, and reading stories of existing franchisees, paints a picture for prospective buyers of their own potential success. When they see that existing franchisees are satisfied and happy, it instills confidence that the franchise system is well-designed and the franchisor is dedicated to the success of each franchisee. It offers a tangible example of what they can achieve within the network.
Multi-unit franchisee Beau Green explains how franchisee satisfaction impacted his decision to purchase his six Right at Home franchise locations.
Beau: “My due diligence included gathering as much information as possible regarding franchisee satisfaction ratings. Today, participating in FBR franchisee satisfaction surveys is very important to me because it helped me make a huge decision. I am intimately familiar with how corporate discusses and adjusts certain business functions based on results from those vitally important surveys.”
Franchisee satisfaction often correlates with the quality of support and communication the franchisor provides. Prospective franchise buyers recognize that a franchise with high franchisee satisfaction ratings has a proactive support team, effective training programs, and clear lines of communication. This reassures them they’ll have the resources to navigate their franchise journey.
Caring Senior Service franchisees Dustin and Rebecca Rauch explain how they used franchisee satisfaction reports, available directly from FBR’s website, to ask current franchise owners qualified questions during the validation process.
Dustin and Rebecca: “During our research, we reviewed the FBR franchise reports, franchisee satisfaction ratings, and articles and insights on the Franchise Business Review website. That helped prepare questions to ask Caring Senior Service franchise owners.”
In an era where franchise buying is about more than financial transactions, franchisee satisfaction has emerged as perhaps the most compelling factor in enticing prospective buyers. The experiences and opinions of existing franchisees carry immense weight, offering insights into support, communication, culture, and overall success.
With so many franchise opportunities available, prospective franchise buyers are looking for differentiators that point to long-term growth and the potential for success. For franchisors, focusing on franchisee satisfaction isn’t just about retaining current franchisees; it’s about attracting a new wave of passionate, committed, and successful franchisees eager to become a part of a thriving franchise network.
Pictured above: Dustin and Rebecca Rauch, Caring Senior Service franchisees.
Find out how FBR can measure your franchisees’ satisfaction and get it into the hands of qualified buyers. Learn more about our research and Validation Program for franchisors.
Related Resource: The 10 Biggest Roadblocks to Franchise Performance
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