An Optimistic Business Climate for Franchisees
According to a recent study, an impressive number of franchisees are optimistic that their franchise units will continue to make good progress in the years ahead and yield significant profits.
This information is gleaned from the 2006 Industry Report on Franchise Satisfaction conducted by Franchise Business Review, a national franchise market research organization. In fact, 72% of franchisees believe the growth opportunity for their particular unit is either strong or very strong.
These individuals were also positive about the companies they work for, for instance 78% gave their franchise system an overall optimistic rating and 92% are pleased with the quality of the products and ancillary services provided.
The Franchise Business Review concludes that even though certain aspect of the United States economy is weakening franchisee are very positive about their growth.
The facts support their optimism: the top 50 public franchise companies have outperformed the Standard and Poor 500 by 70% over the last six-years. And in terms of business ethics, franchise companies received a 91% favorable rating.
The Industry Report was the most comprehensive study ever done on franchise owner satisfaction. Over 10,000 individual franchisees from hundreds of franchisers in over 50 business sectors participated. They responded to such questions as: franchise training … franchisor support … system quality … franchisor/franchisee relations … financial opportunity … and overall satisfaction.
No surprisingly, the Industry Report mirrors positive numbers obtain from a previous survey conducted by the International Franchise Association. This survey sought to establish how franchise members opinions about the confidence they had in their business outlook. An impressive 68% will perform well in this year, with 50% saying the future will be "very good."
The message of these meticulously prepared and researched studies is abundantly clear - franchising bucks the trends … inspires confidence … and provides not only stability but constant growth potential even in a slow economy!