Every year, the Franchise Business Review surveys thousands of franchise owners to determine the highest ranking franchise according to their franchise operation and their franchisee's satisfaction with the business. It is an excellent resource for potential franchisees to find out what franchisor is doing the best for its franchisee network.
View the results of the top three franchises for 2008 here, and for a full list of the Results for 2008 Franchisee Satisfaction Awards please visit franchisebusinessreview.com.
Best 3 of Top 50 Franchises 2008
- Large Systems: Heaven’s Best (Cleaning & Maintenance)
- Mid-size Systems: i9 Sports (Sports and Recreation)
- Under 50 Units:Focal point Coaching (Business Services)
Fast food franchises have been awarded with the Number 1 position in the Best Food Franchise Category. However, the fast food franchise industry while still retaining the number one position is slowly becoming less dominant in the food industry by the emergence of healthier food categories such as organic and ethnic food franchises. The next couple of years (2008+) will see an increase in the number of health food franchises as consumers demand healthier alternatives to traditional fast food products.
No.1 Best in Category - Food Franchises 2008
Nathan's Famous Inc. ( Fast Food Franchise)
How can a franchisor enter the Top 50 Franchise Awards?
In order to enter the Franchise Business Review Top 50 Franchise Awards must have a company with ten or more franchisees in order to be assessed for the competition. In addition to the top 50 list, awards will be given to franchisors with the best score in each market category, such as best food franchise and so on. Franchisees will be asked about a range of topics such as training and support, the quality of products and services, marketing, competition, the effectiveness of the franchisor and franchisee relationship and financial opportunities.
In addition, Franchise Business Review will find out information on the current market in the area where the franchise is located and franchisees' business lifestyle, skills and experiences to obtain a full picture so that franchisers can better understand their comments.
Registering and participating in the Food 50 is free and a detailed summary of the results will be provided without charge, with the option to buy a more detailed report which includes individual franchisee responses.
Although rankings and section winners will be made public, the information collected in the survey process will be kept completely confidential.
Therefore, areas where franchisees have expressed concern or are unhappy can be worked on by both parties internally and hopefully sorted out for the benefit of all concerned.
According to the Franchise Business Review this will benefit franchisors, franchisees and potential franchisees in the food sector, which Franchise Business Review says makes up around 40 per cent of the whole industry.
Who will benefit from the award?
Franchisor:
As well as the boost of being named in the top 50 food franchise companies, firms will receive high-level feedback which will give them a valuable insight into how their franchisees are handling their business.
Franchisees:
Franchisees will be able to use this survey as a time to reflect on their experiences so far and think of what they need to do to achieve their targets. They will also potentially benefit from general measures taken by the franchiser, as a result of the survey, to improve relations between it and its franchise owners.
Potential Franchisees:
People who are thinking of becoming franchisees in the food sector will undoubtedly know which franchisors are keeping its franchisees the happiest, which is vital when deciding on which company to choose.
Eric Stites, president of Franchise Business Review, commented on the awards: "From my experience, franchisee satisfaction is the single most important factor to consider before investing in a franchise and it is often the hardest to measure." This makes the Franchise Top 50 awards a crucial factor in determining the best franchise operations and gives potential franchisees the opportunity to invest in a franchise that truly makes business sense.