What does Franchise Business Review do?
Franchise Business Review (FBR) works with franchisors to measure franchisee satisfaction and employee engagement. FBR is not a franchise, nor does it own any franchises. FBR is a data analyst firm focused on the franchising industry. We survey franchise owners and/or franchise employees to understand their level of satisfaction with their franchise. Survey results provide data and insights into franchisee and employee perceptions of a brand’s strengths and weaknesses which not only empowers franchisors to better understand their brand’s performance and identify strengths and weaknesses. It also empowers franchise owners and employees to communicate their own experiences and perceptions to their franchisor. In addition to survey data and franchise reviews, FBR provides thought leadership articles, industry reports, franchisee interviews, training, and resources to help franchisee candidates identify top franchise business opportunities based on our satisfaction research. Visit the About US page.
What is a Franchisee Satisfaction Award?
Since 2006, our Franchisee Satisfaction Awards have been considered the gold standard in franchising. Franchise Business Review’s Franchisee Satisfaction Awards the only awards program in North America that recognizes and honors franchise brands for achieving high ratings in franchise owner satisfaction. Each year, Franchise Business Review surveys 30,000+ franchise owners to determine their level of satisfaction with their franchise brand and overall franchise performance. Survey answers are anonymous (unless a franchisee chooses to identify themselves) and franchisees are encouraged to be as direct and honest as possible in their responses. From this data, FBR compiles a list of the top-rated franchises for each year plus subsequent lists throughout each year based on industry segment, cost, demographics and other criteria. We share these lists and insights on our website and in our quarterly Franchise Buyer’s Guide to help potential franchise buyers research and compare franchise opportunities with top-rated franchises.
Why is a franchisee satisfaction rating important?
Franchisee satisfaction may seem like a subjective topic that can be difficult to measure, but it is absolutely critical to building a healthy franchise system. That’s why FBR has developed a proprietary, third-party survey method and robust data analytics to provide this essential insight to franchisors and franchisees alike.
Franchisee satisfaction has a direct impact on system profitability and brand resiliency. It helps a franchise develop a clear understanding of its franchisees’ experiences and expectations, what’s working, and where improvements can be made. It also provides a voice to franchisees via an annual check-in on how things are going, what makes them feel appreciated and supported and where things could improve. This insight can only be achieved by collecting detailed, objective, and holistic data on a system, measuring it against comparable industry benchmarks and indexes, and making changes to enable continuous system improvements.
Are survey responses anonymous?
Survey responses are anonymous by default. Franchisees are encouraged to remain anonymous in their responses in order to maximize participation. Many franchisees, however, still choose to disclose their names when responding to the survey—especially those who want to praise their franchise’s performance and convey their satisfaction and fulfillment with their decision to invest in the brand.
How can a brand earn a Franchisee Satisfaction Award?
FBR’s Franchisee Satisfaction Awards are open to all franchise brands based in the U.S. or Canada that have at least 10 franchise owners with locations that have been open and operating for more than six months. To be considered for an award a franchise must participate in Franchise Business Review’s franchisee satisfaction survey. FBR surveys franchise owners at no cost to the franchise or the franchisee. Franchisors cannot buy their way onto a Top Franchise list. Results are based exclusively on the data.
How are franchise award winners selected?
All companies that participate in the FBR Franchisee Satisfaction Survey receive a Franchise Satisfaction Index (FSI) score which benchmarks their brand against aggregate data from nearly 1,100 franchise brands. Award winning franchises are selected based solely on their score resulting from franchise owner responses to 33 benchmarking survey questions. The questions address key indicators of franchise health and performance such as franchise culture, leadership, trust, support, confidence, whether a franchisee would recommend their franchise to others, and more. The 200 brands with the highest overall franchisee satisfaction scores are named a Top 200 Franchise.
The scores for each benchmark question are determined using a weighted scale. For each franchise brand, the collective scores of the franchisees are used to determine the overall FSI score to determine the brand’s ranking. Other factors considered include: size of the franchise system, the percent of franchisees participating in the survey, and the age of the survey.
From the list of Top Franchises each year, FBR provides further insights in the form of specific industry segments such as Top Franchises for Women, Top Franchises for Veterans, Most Profitable Franchises, Top Low-Cost Franchises, Culture 100 Award Winners, and more. These lists and insights are designed to assist potential franchise buyers with their research and due diligence and to empower them to make better-informed investment decisions. Visit the Our Methodology page.
What if a brand doesn’t make the Top Franchises list?
Individual companies that are not franchisee satisfaction finalists or award winners will not appear on our website. Potential franchise buyers can rest assured that the franchises on any of our lists of award winners are the best of the best in the industry! We’ve done our due diligence so you can focus on researching only highly-rated franchises. We pride ourselves on our deep industry knowledge, proprietary research methods, and the integrity of our data. That is why visitors to our website don’t have to weed out the low performers to find the best franchise opportunities. We’ve already done that for you. Only the top-rated franchises can be found on franchisebusinessreview.com.
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