With 400 franchised units and a presence in 46 states and all Canadian provinces, Padgett knows what it takes to make successful and happy franchisees. And they should – they’ve been in business for 40 years and franchising for 30. You don’t achieve that longevity, especially in franchising, without getting the details right.
Padgett, says Steve Rafsky, CEO, started by helping small business owners manage the financial aspects of their companies. The service was much desired by these small companies as the owners needed to concentrate on growing their businesses rather than spending time on back room tasks.
“We started by providing reports,? says Rafsky, “such as P&L and balance sheets. But with time, we found our role to be much more than that. We are now considered by our clients as business advisors. We answer their questions and help them keep their businesses on track. In fact, we did an extensive survey of our clients and found that 92% of them say we are their first or only business advisor. Our evolution is that we changed from a paper business to a people business.?
“Padgett is not a sexy business,? says Rafsky, “like ice cream or sporting goods. “Yet for the 19 th consecutive year we have been named as a top franchise in Entrepreneur’s Franchise 500. We’re very proud of that recognition. Also, during the first year of this award, Franchise Business Review named the top 50 franchised businesses based on franchisee satisfaction and we made this prestigious list. Keeping 400 franchisees happy, particularly since some have been with the company since it began, is a challenge but it is our primary focus. We’re happy to say we are succeeding.?
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