Top Franchises List Highlights the Best of the Best
Franchise Business Review is not the only company that publishes a list of top franchise brands every year. There are many others, including some of the most respected names in business. What makes some of these lists more reliable than others? The answer, as you might expect, has to do with methodology.
Franchise systems are complex corporations, with many different factors contributing to their success. Even success itself can be defined in different ways for franchise brands. The corporate entity (the “franchisor”) may be a very stable, profitable company, and surely that is indicative of success for its ownership and stakeholders. However, that type of corporate success does not automatically mean that individual franchise units are succeeding in the same way. As you might find with many of the national and international fast food franchise companies, company stock prices continue to rise even as franchise owners find it harder and harder to realize a strong margin in their local restaurants.
On the other hand, a company that chooses to expand by franchising may indeed be able to duplicate success for each new franchise owner, but without strong leadership and smart budgeting and projections, the corporation may find itself in a difficult financial position before too long. So, while both of these examples suggest a certain type of success, neither is exactly what one may be seeking in terms of a business investment.
Our list of top franchises, as you may know, is based on franchisee satisfaction. Each year, we review the various franchise brands we’ve surveyed to identify those with the highest franchisee satisfaction, based on the results of a benchmarking survey we administer to current franchise owners.
Here is the list of the top 10 franchises as of the beginning of this year:
Some of the brands listed above, and many others of this year’s top franchises, have created a company profile page to allow prospective franchise owners to learn more about the company and inquire directly for more information.
Franchisee satisfaction is not the only measure of franchise success; however, for someone looking to become a franchise owner, there may be no better predictor of overall success than positive franchise reviews from existing franchisees. When franchisees are, on average, highly satisfied with a system’s training, technology, leadership, core values, and financial opportunity (among other factors) and say they’d make the same decision to invest all over again, there is obviously, at the very least, the potential for new franchisee to thrive as well. Actual results, of course, depend greatly upon the individual.
We encourage you to use many resources and think critically about every opportunity as you research franchises. When it comes to lists, make sure the companies featured are ranked by factors that matter to you -- the potential franchisees -- as opposed to a financial investor in the corporation.