While we’ve covered Who Franchise Business Review is, you may be wondering, What does Franchise Business Review do?
What a great question! We at FBR are pretty busy all year long collecting data, working with brands, and educating people like YOU who are considering buying a franchise. We’ve been at it for 20 years and we’ve no intention of stopping. We’ve even started a franchise podcast about it!
Our founder, Eric Stites, began FBR to make accessing unbiased information about owning a franchise easier back in 2005. Since then, we survey over 40,000 franchisees annually to determine which franchise brands are the best. That’s a lot of franchisees!
Here’s a breakdown of how we work and what Franchise Review does.
Step 1: We Invite
We invite all franchise companies based in North America with 10 or more franchise owners to participate in our research at no cost. We go hard for unbiased data.
Step 2: We Survey
This is the heart of it all. We contact all franchisees in the participating franchise companies and invite them to complete a 33-question satisfaction survey covering eight key areas. These areas include things like financial opportunity, training and support, leadership, and core values.
Step 3: We Analyze
With great data comes great responsibility! What does Franchise Business Review do with these insights? We analyze the responses from the franchisees and use a weighted scale to determine an overall Franchise Satisfaction Index (FSI) score that ranges from 0-100. We also consider the participation percentage and the size of the franchise company. Truly, we work hard to translate the data from all of these franchisees for people like YOU who might consider buying a franchise.
Step 4: Score
The FSI score from all of the franchisee surveys is used to benchmark each franchise company’s franchisee satisfaction level against 1100+ others. We get a great bigger picture of how all these brands perform in franchisee satisfaction.
Step 5: Award
We love this part. Every year, we identify the brands that exceed the benchmark and recognize them with a Top Franchise Award. This means, they score so well that we celebrate them with one of our awards. And we have a lot of awards, take a look:
- Top 200 Franchises
- Top Franchises for Women
- Culture100
- Top Food and Beverage Franchises
- Top Franchises for Veterans
- Most Innovative Franchises
- Most Profitable Franchises
- Top Recession-Resistant Franchises
- Top Low-Cost Franchises
We update all of our awards lists yearly with fresh data. That means if a company is on our list, it means our data for them is recent. Our data doesn’t lie and you shouldn’t be caught researching franchises without it.
