Franchising can be a great path to self-employment, giving you more control over your own destiny and reducing your risk. There are hundreds of franchise opportunities out there and it's difficult to identify the best ones. My name is Steven Frost and I'm the CEO of independent research firm Smith & Henderson.
We know that the best way to find out about a franchise is to speak to the real experts - existing franchisees - and ask them what it's really like. Each year, we ask thousands of franchisees to rate their experiences. We ask them to provide feedback with confidential surveys, so they can provide honest answers.
We then award 5 Star Franchisee Satisfaction to an exclusive group of franchisors that receive above-average feedback, on all five key areas that we measure:
- Training and support they provide their franchisees
- Franchise system
- Relationship with their franchisees
- Levels of general satisfaction
We awarded ActionCOACH 5 Star Franchisee satisfaction, based on positive feedback from their franchisees. In October 2013, we completed confidential surveys with 62 per cent of these. Here are just a few of the questions we asked.
Firstly, how would you rate the initial training and support provided to new franchisees? One hundred per cent of new franchisees rated as good, very good or excellent. The training and support is especially important for new franchisees, because it helps them establish profitable businesses.
One of the main advantages of franchising is you'll have a well-known brand. We asked does the ActionCOACH brand help to differentiate your business from the competition? Eighty nine per cent answered positively.
Finally, we asked how would you rate the long-term prospects for your franchise business? Ninety one per cent rated us as good, very good or excellent.
With over 1,000 business coaches in 50 countries, ActionCOACH has become a leader in business coaching. ActionCOACH was also rated number one business opportunity in the UK, by Compare The Financial Markets.
While nothing guarantees the particular franchise will be right for you, franchisors like ActionCOACH that have been awared 5 Star Franchisee Satisfaction, are a great place to start.