It is important for a franchisor to know how franchisees feel individually and collectively.
Regular Franchisee Satisfaction Surveys – Best Practice # 4
This is important because franchisee satisfaction has the power to help build or destroy a franchise system, depending on whether it is positive or negative.
Much should be done throughout the year in personal interactions and otherwise to know where franchisees are at. But nothing focuses attention nor can provide a professional measure, like an independent franchisee satisfaction survey of all franchisees simultaneously.
For most franchise companies we would recommend an annual or biannual franchisee satisfaction survey.
There are many measures within a franchisee sentiment survey, like a franchisee’s intentions to remain or recommend, that should be regarded as critical franchisor KPIs or Key Performance Indicators.
Of course, surveying franchisees and reviewing results are not enough alone. A franchisor also needs to act on the survey, and consider the survey as part of an ongoing development and improvement journey.
That journey should also involve franchisees individually, in groups regionally or as a total network, and the Franchise Advisory Council, if you have one, in considering and improving the franchise on an ongoing basis.
About the Franchising Best Practice 500 Series
This is part of a series of franchising best practices. Franchize Consultants is sharing and publishing these best practices weekly for the betterment of franchising. We know that better knowledge and execution of franchising best practices leads to bigger and more valuable franchisor and franchisee businesses.