If you’re an entrepreneur in the market to purchase a franchise business, it’s a good idea to pay attention to franchise satisfaction ratings.
Franchise satisfaction ratings provide a snapshot of the experience that other entrepreneurs have had with a franchise brand when purchasing and starting up a franchise business. Think of it as reviews for franchisors. It’s comparable to checking online reviews prior to trying a new restaurant. You want to see whether the food and service is good prior to choosing whether or not to eat there.
What Do Franchise Satisfaction Ratings Cover?
Franchise satisfaction ratings typically cover things like affordability, support and training, profitability, lifestyle and more. This can vary depending on the organization conducting the research and the aspect of franchising that they are analyzing.
How Do I Find Franchise Satisfaction Ratings?
There are several media organizations that gauge franchisee satisfaction through surveys and then publish their findings using rating systems. These include Franchise Business Review, Forbes, and News Gator, all good places to look when doing your research.
Franchise Business Review, for instance, publishes lists such as Top Low-Cost Franchises, Top Rated, Innovative Franchise Brands, and Top Franchises for Women (all of which MaidPro has ranked very highly on, by the way).
When looking for franchise satisfaction ratings, be sure to rely on organizations that are objective and use actual survey data to rate franchise brands. Most reputable organizations freely disclose information on how they collected and compiled data to rank franchises. However, on the other hand, there are some organizations that do nothing more than publish paid lists that franchisors buy their way onto by paying a fee. That means their published results do not clearly reflect franchisee satisfaction.
We hope you learned something new about owning multiple franchise locations!
If you’d like to learn more about opening a MaidPro franchise business, a member of our franchise team would love to speak to you. Contact us today.