When you’re shopping for a franchise, you should do as much research as you possibly can before investing your savings. Obviously I think you should start with the AllBusiness AllStar Franchise ranking to gain insight into the top franchises for 2010.
But there’s another ranking I think is worth looking at — The Franchisee Satisfaction Awards from Franchise Business Review (FBR), a franchise market research firm. The 2010 Awards recognizes over 130 franchisors for having very happy franchisees.
FBR has issued the Franchisee Satisfaction Awards for five years. While there are many repeat awardees, this year 50 new franchise companies were added to the list. FBR asks franchisees about factors such as training and support, their relationship with the franchisors, financial opportunity and their overall satisfaction. Additional questions cover demographic and lifestyle issues.
You can look at the top franchises by industry and by size. This year’s leaders were:
- Large-size system (200 units): Heaven’s Best Carpet Cleaning
- Midsize system (50-200 units): Paul Mitchell School (beauty schools)
- Small system (less than 50 units): Precision Concrete Cutting
As FBR’s president Eric Stites points out, one of the keys in the 2010 Awards is the fact these systems, “even during challenging economic times…maintain high franchisee satisfaction.”
I have always recommended that before you invest in a franchise, you should call 10 to 20 franchisees to get their perspectives on the system you’re interested in. The Franchisee Satisfaction Awards gives you a head start on learning what franchisees think of their franchisors.
Rieva Lesonsky is founder and president of GrowBiz Media, a content and consulting company that helps entrepreneurs start and grow their businesses. Follow Rieva at Twitter.com/Rieva. Visit SmallBizDaily.com to read more of Rieva’s insights. Visit StartupNation to buy her newest e-book, 23 Hot Businesses to Start Right Now!