About Franchise Business Review and the Franchisee Satisfaction Awards
Franchise Business Review is a national franchise market research firm that performs independent surveys of franchisee satisfaction. We examine the critical areas of a franchise system including training & support, operations, franchisor/franchisee relations, financial opportunity, and more. Our survey results deliver the unbiased facts about the overall health of a franchise system direct from today’s franchise owners.
The Franchise Satisfaction Awards – Background Information
The 2008 FBR 50 – Franchisee Satisfaction Awards have once again exceeded all expectations. Over 300 leading franchise systems, representing over 65,000 franchisees, registered for this year’s FBR 50 project — which is now the largest survey of franchisee satisfaction ever completed. The end result is an exclusive list of companies that truly represents the best franchise opportunities in the marketplace today.
What are the FBR 50 Awards?
The FBR 50 Awards are an annual ranking of franchise companies by their level of franchisee satisfaction. The awards are based on the research results of Franchise Business Review, a market research firm that conducts thousands of independent surveys of franchisees each year. The awards recognize the Top 50 franchise companies with the highest levels of overall franchisee satisfaction, as well as Best in Category and Honorable Mention awards in 16 industry categories. This year over 100 franchise companies were recognized as having outstanding franchisee satisfaction.
How many and what types of companies participated in the 2008 FBR 50 Awards?
Over 300 franchise companies registered for the 2008 FBR 50 Awards. Those companies represent a total of over 65,000 franchisees. Participation was limited to companies based in North America, with greater than 10 franchisees in their system. This year’s participants included a wide array of companies from many different industries, ranging in size from small franchise systems with just a dozen franchisees, to large International brands with thousands of locations around the world.
Why are the FBR 50 Awards so important?
For the prospective franchise buyer, investing in a franchise is one of the most significant investments and life-changing events they will ever experience. There are many factors to consider before buying a franchise and chief among those factors is satisfaction levels of current franchisees. Are franchisees getting the training and support they need to be successful? Do they value their relationship with their franchisor? Are they growing and making money? Would they do it all over again? These important questions can only be answered by current franchisees – the true franchise experts. The research conducted by Franchise Business Review is the most comprehensive study of franchisee satisfaction ever done and the results speak for themselves.
How was the survey process completed?
All active franchisees from each participating company were invited to participate in this project. Franchise Business Review staff made at least three attempts to reach each franchisee directly by email or telephone. Surveys were completed online, over the phone, via direct mail and facsimile. Franchise Business Review attained an amazing rate of franchisee participation, averaging over 50% and in some cases, as many as 90 - 100% of franchisees took part.
The survey itself consisted of a total of 40 questions. The first 20 questions were specific to the franchisees’ satisfaction with their franchise system. Questions addressed five main areas: Training & Support, Franchise System, Franchisor Relationship, Financial Opportunity and Overall Satisfaction. The remaining 20 questions were focused on market area, business lifestyle, demographic and personal skills questions.
How were franchise companies ranked?
Companies were ranked based on a proprietary formula taking into account each company’s average satisfaction score, system size and rate of franchisee participation.
How do I find out more information about the 2008 FBR 50 Awards?
Franchise Business Review is headquartered in Kittery, Maine and can be reached at 866-397-6680 or via email at info@franchisebusinessreview.com.