The 2007 Industry Report on Franchisee Satisfaction, released on March 22 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, 2 out of 3 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.’
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