Meet the Supplier: Franchise Business Review

Franchise Business Review (FBR) is a franchise market research firm that performs independent surveys to measure franchisee satisfaction, employee engagement, franchise buyer experiences and end-customer satisfaction. By using survey data, FBR provides franchisors with detailed and objective feedback on the state of their system. The information also gives prospective franchise buyers valuable insights as they conduct their research.

How Franchise Business Review Selects The Top Franchises

By surveying thousands of franchisees from hundreds of leading franchise brands, FBR is able to gauge franchisee satisfaction and performance. The supplier’s research identifies the award-winning franchise brands in several categories, such as the “Top 200 Franchise Brands,” “Top Low-Cost Franchises,” “Top Recession-Proof Franchises,” “Top Franchises for Women,”  “Top Franchises for Veterans” and “Most Innovative.”

The process includes five steps:

• Invite: All franchise companies based in North America with 10 or more franchise owners are invited to participate in the research for free.
• Survey: All franchisees in the franchise companies are contacted to answer an anonymous, 33-question survey.
• Analyze: FBR analyzes the responses from the franchisees and uses a weighted scale to determine an overall Franchisee Satisfaction Index (FSI) rating for each franchise brand.
• Score: The FSI score is used to benchmark each company’s franchisee satisfaction level against over 1,100 franchise brands presenting tens of franchisees and determine their ranking among other participating companies.
• Award: Brands that exceed the benchmark are identified and recognized with a top franchise award.

How Franchise Business Review Benefits Franchisees

Prospective franchisees can benefit from using FBR in several ways:

• See the top-rated franchises: Every year, FBR reveals the top 200 franchises based on unbiased feedback from real franchise owners. Prospective franchisees can browse the lists to learn more about the top franchise brands of that year.
• FBR Franchise Academy: The firm will walk prospective franchisees through six essential steps to select and buy the franchise that’s right for them.
• Compare franchise opportunities: In addition to the top 200, FBR offers a comprehensive list of today’s top franchise opportunities based on reviews of 30,000 franchise owners across 300-plus leading franchise companies.
• FBR Insider: By subscribing to FBR Insider, readers can get insights and advice, franchise research and ratings, franchise owner success stories and more delivered via email.

How Franchise Business Review Benefits Franchisors

FBR supports franchisors by providing valuable insights and data that can help them improve their franchise systems and enhance their relationships with franchisees.

• Franchisee Satisfaction Surveys: The data collected from the comprehensive surveys can provide franchisors with a comprehensive understanding of how their franchisees perceive their business.
• Benchmarking and Comparison: FBR benchmarks a franchisor's performance against industry standards and competitors. This allows franchisors to identify areas where they excel and areas where there is room for improvement.
• Identifying Opportunities for Improvement: The feedback and data collected by FBR can help franchisors pinpoint specific areas where they can enhance their support and services to franchisees.
• Enhancing Franchisee Relationships: By understanding franchisee concerns and addressing them proactively, franchisors can foster a more positive and collaborative franchisee-franchisor relationship.
• Recruitment and Brand Development: Positive rankings and reviews from FBR can be used by franchisors in their marketing and recruitment efforts.
• Performance Evaluation: By tracking improvements or declines in franchisee satisfaction and performance metrics, franchisors can make informed decisions to drive growth and success.

Overall, FBR is greatly useful for both franchisors and franchisees alike. It can help franchisors enhance their operations, make data-driven decisions, and create a more attractive and successful franchise system. This also gives franchisees the opportunity to explore the right options for them.