Here at FBR we are proud of our award-winning clients, and have put together 12 tips for successfully promoting your high franchisee satisfaction! We know it takes a lot of hard work and dedication to your franchisees to maintain high satisfaction ratings - So part of your gratification should be publicizing it!
Home Instead Senior Ranks Best in Category for Franchise Business Review's 2010 Franchise Satisfaction Awards. Home Instead continues to believe that franchisee satisfaction is a monumental indicator of development and success.
Take a look at our 2010 list of award-winning franchises! We are proud to announce 133 franchise companies - out of over 500 brands surveyed this year - that are doing things right and putting their franchisees first.
Wow... that's a tough one! It's similar to buying a car or a house - there is a huge range in price between various franchise opportunities. What's important to understand are three key pieces of information related to cost: 1.) initial capital required, 2.) total initial investment, and 3.) on-going or recurring costs. Here's the breakdown...
Are you new to franchising or an old hand at being your own boss? The executives at Franchise Business Review share their insights into the ever-changing and ever-challenging world of franchising.
Here's a short list of incredible resources for franchisors and franchisees to help improve franchise relations and drive franchise system performance forward...
Small Business Expert, Rieva Lesonsky, reports on Franchise Business Review's satisfaction surveys, transparency within your system, and the importance of the franchise relationship.
In just a short two and a half weeks, FBR will join hundreds of other franchise companies, and thousands of colleagues and friends in Texas to reveal our Top Franchises for 2010.
Wall Street Journal reports on Franchise Business Review, Our President, Eric Stites, and the importance of third party franchisee surveying... Read more!
With 5 years of franchise satisfaction research under our belt, we decided to take a look at where the most satisfied franchisees live and work in the United States.
The New Girl promotes FBR's webinar, Franchise Success: The Ins and Outs of Buying the Right Franchise. It will be held Wednesday, November 4th at 1pm ET and is free to register! Take a peek...
With the advice of a Hollywood pirate, The New Girl takes a look at the definition of being "Social Media Savvy," and gives just a few critical ideas that will keep you up to speed with your networking platforms.
FBR is on the hunt for franchisors up for the challenge of our 5th Annual Franchisee Satisfaction Awards. No risk, great data, why aren't you registered?
Attending the Leadership & Development conference last week confirmed business and franchising is changing. Thanks to social media and internet research, prospective buyers are more knowledgeable before they even have the first conversation with your corporate office. Franchisee (& Employee & Customer) Satisfaction is more relevant than ever.
From what we have seen in today's economy, it seems undeniably clear that finding and keeping the right customers must be a top priority. Recently, there has been a lot of talk about this in the franchise world...
Question: I am about to purchase a sandwhich shop near a 22,000+ student campus that is a Franchise store. My question given the recession (if we are really in one), what is your opinion on this idea outside of the scientifcal and business facts needed to give an even more accurate opinion?
Q: What are your thoughts on investing in a fairly new franchise and what are the risks. The franchise I am looking into is less than 2 years old. What are your thoughts?
A: Be very cautious and approach the "opportunity" like an angel investor. (read full response)
Q: I was looking into a franchise called PUROCLEAN. They are a disaster restoration company that claims to have an edge over all others. They also claim that the return on investment is fantastic. What do you think about the company? Is this market too saturated with too much competition that I wont be able to survive? How much do you think its worth investing in them? Thanks for any help - Jim
Recently, I have been receiving dozens of emails every week from people wondering if now is the right time to invest in a business. This morning I received an email from a guy who's thinking about investing in a handyman service. My advice to him applies to anyone looking at buying a franchise right now - or really any time for that matter.
Q: What has been the feedback on waste management consulting companies such as Environmental Waste Solutions? Do you think that it is a good opportunity?
Thanks, Idrees
A: Survey says... NOT a good opportunity. Read more...
Whether you’re a fast-food junkie or just an occasional eater, quick service restaurants (QSR) are as American as baseball and apple pie. From Main Street to Wall Street, and just about every highway exit and rest area nationwide, QSR franchise options have exploded in recent years.
Just because the economy is down doesn't mean that a smart investment decision can't be found. In fact, I would argue it is actually a great time to look at investing in a new business -- as long as it has a history.
We've been busy this week interviewing some of the best minds in franchising. We already have an archive of almost 40 interviews and this week alone we've added interviews from Two Men and a Truck, Bruegger's, Snap-on Tools and more.
When nearly 45,000 franchisees talk about their franchise systems, they have something to say. The 2008 Franchisee Satisfaction Awards presented by Franchise Business Review highlights those franchises whose validation among their franchisees was superior in the industry.
I've heard franchisors mention that validation is easy for their prospective investors. What planet are these guys from? Have they tried it themselves? more >comment
Even the franchise systems with the happiest franchisees have dissatisfied owners. The reasons why these people are unhappy are a varied as the people themselves. more >comment
As part of many franchise agreements, franchisors require franchisees to contribute to an advertising fund. Sometimes these funds are national (i.e. McDonald's) ... more >comment
One of the things I realized early on here at FBR is how hard it is to find a good franchise information online. If you've done some research yourself you know what I'm talking about. If not, do a Google search for "franchise." Go ahead, I'll wait... What did you get? more >comment
I'll start with the most obvious lesson in franchising: if someone out there has found a profitable business model, someone is offering a franchise of that model. Honestly, the number of franchise opportunities available is astounding and there is no doubt one that a perfect fit for you... more >comment
I just read this in the May 14 issue of The New Yorker and wanted to pass it along. Richard Branson, CEO of Virgin Atlantic (and about 130 other "Virgin" brands) says about entrepreneurship
The ability to market (sell) your business to the public could be one of the most important steps to succeeding. Franchisors are not only selling products to consumers ... but they are also convincing other entrepreneurs to buy in to their businesses. more >comment
Entrepreneurs are often go-getters; people that can do anything ... for anyone ... and, yes, sometimes overcommit. I recently read David Allen's, Getting Things Done and found it one of the most helpful books I've read in 2007. A quick excerpt on the five phases of project planning. more >comment
I am often asked whether or not it is a good idea to invest in a “hot, new franchise concept” or to go with a “safe” established brand. Certainly, established franchise brands typically have a higher success rate as compared to younger franchise systems. Yet, while investing in a new franchise concept may come with higher risks, the return on your investment, if successful, may be higher as well. Which is right for you? The answer really depends on two factors: you and the franchise itself. more >comment
It’s a common misunderstanding that businesses with many locations are all franchises. In fact, many of the places you frequent on a daily basis are NOT franchises at all, but corporate-owned and operated stores. For example, FedEx/Kinkos, The Gap, Red Lobster and yes, even Starbucks are NOT franchises. more >comment
I can’t tell you how many times I’ve been asked by someone thinking about investing in a franchise “How much money can I make?” It’s far and away the number one question prospective franchisee want answered. And why not? Isn’t money the primary reason most people go into any business? I love my job and the work I get to do helping people discover the best franchise opportunities in the marketplace today – but heck, if it weren’t for the equity I’m building as part of owning my own business, I’d rather be fishing! more >comment
A few questions to start: What are the keys to franchising? How do you (or I) know if franchising is right for me? And the frequently asked, “What are the hot franchises right now?” Most of these questions will be covered in the articles and resources section in the upcoming Franchise Center and while I may not know what the hot concepts are, I can try to provide you with the information and guidance to make a more educated decision yourself. more >comment
Last week was a tough week. Hundreds of people lost their lives in the escalating war in Iraq. The Virginia Tech massacre left 33 students and faculty dead and 29 others injured. A neighbor of mine was killed in a car accident, leaving behind his wife and three young kids. So much tragedy. So much loss. Yet for most of us, life continues on. more >comment
With bad news on the economy and instability in the job market, there are a lot of people questioning if it is a good time to think about buying into a franchise system.
