New Franchise Business Review Report Indicates Strong Satisfaction Among Franchise Owners
The 2007 Industry Report on Franchisee Satisfaction, released today by Franchise Business Review, indicates that an overwhelming percentage of franchisees across North America are satisfied with their business investment. Overall, 82% of franchise owners gave their franchise system a positive rating. The report also indicates that the majority of franchisees are meeting or exceeding their financial expectations.
“All in all, franchising continues to be an attractive and rewarding opportunity for individuals looking to have a little more control over their future,” says Eric Stites, Founder and President of Franchise Business Review. “Over the past 12 months, we have surveyed thousands of franchisees from hundreds of different franchise systems and the majority of these folks are happy and making money.”
According to the report, 90% of franchise owners gave a positive grade to the quality of the products and services provided by their franchise company. On the question of business ethics, franchises scored an 86% favorable rating. And on the very important question of financial performance, two out of three franchisees rated their long-term growth opportunity as strong or very strong.
“Satisfaction among current franchisees is one of the most critical issues for any prospective buyer to consider before investing in a franchise,” continued Stites. “Unfortunately, many franchises are simply average or below average opportunities. Our research helps identify the franchise companies with the highest levels of franchisee satisfaction…companies we consider to be the best of the best that franchising has to offer. We believe these companies offer a much better opportunity for success.”
FastSigns International is one of the franchise companies surveyed by Franchise Business Review and has been ranked Best in Category for business services franchises for the last two years. “We are both excited and proud to receive continued recognition in the area of franchisee satisfaction,” stated William McPherson, VP of Domestic Franchise Development at FastSigns. “Our ability to continue to grow our network is significantly impacted by our franchisees satisfaction. I can’t think of a better validation of this than to be recognized by Franchise Business Review.”
Nearly twenty thousand franchise owners participated in the 2007 survey project, which included hundreds of different franchise companies from many different industry segments including food, services and retail. The survey asked franchise owners 40 questions related to their franchise ownership experience. The questions covered many areas including training and support, system quality, franchisor / franchisee relations, financial opportunity and overall satisfaction. The 2007 Industry Report on Franchisee Satisfaction is available for free download on the Franchise Business Review company website at http://www.FranchiseBusinessReview.com.
About Franchise Business Review
Franchise Business Review is a national franchise market research firm that performs independent surveys of franchisee satisfaction and franchise buyer experiences. The firm’s services include commissioned franchise research projects leveraging proprietary survey processes and software, as well as industry-wide studies of franchisee satisfaction open to all North American franchise companies. Franchise Business Review is headquartered in Kittery, Maine and can be reached at 866-397-6680 or by visiting their company websites at www.FranchiseBusinessReview.com or www.Franchise50.com.
About FastSigns International, Inc.
FASTSIGNS® sign and graphics centers use innovation and technology to make the sign buying process simple by offering consulting, design, production, file transfer, delivery, installation for a full range of custom sign and graphic products, including wide format banners and POP, site signs, exhibit graphics, window and vehicle graphics, decals and labels, safety and identification signage and floor graphics for interior and exterior use.
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