Franchise Business Review’s Independent Research Reveals Nearly 9 out of 10 Food Franchise Owners Surveyed Would Recommend Their Brand to Others
PORTSMOUTH, NH, UNITED STATES, July 15, 2021 /EINPresswire.com/ — Franchise Business Review, an independent market research firm serving the franchise sector, has announced the Top Food Franchises of 2021. The award-winning brands on the list were identified based on survey feedback over the past 18 months from 10,220 franchise owners across many of today’s leading food brands.
Franchise Business Review (FBR) provides ratings of franchise opportunities based solely on survey research that measures franchisee satisfaction and performance and publishes rankings of the top franchises in its annual Guide to Today’s Top Franchises, as well as in quarterly reports throughout the year that rank the top franchises in specific sectors.
For this year’s research on the Top Food Franchises, each survey participant was asked 33 benchmark questions about their franchisor that focused on areas such as leadership, training & support, financial opportunity, and core values as well as 16 more personal questions concerning their business lifestyle and overall enjoyment of running their franchise. This year, 30 brands scored high enough to exceed Franchise Business Review’s benchmarks for the Top Food Franchises award list.
“The 30 award-winning food franchises that made our list were lauded for their ability to support and work with their franchisees to navigate all the challenges thrown at them this past year,” said Eric Stites, Founder & CEO of Franchise Business Review. “The data is very telling in that it provides real insight into the franchises that were best able to operate in one of the hardest-hit sectors during the pandemic while maintaining strong relationships with their franchisees.”
Data from the 30 top-ranked food brands revealed that 88% of food franchise owners would recommend their brand to others, compared to just 54% of the franchisees surveyed who owned brands not on the list.
Other key findings show:
— 85% said they enjoy being part of their franchise organization
— 84% gave their brand high marks for communication and handling of the pandemic
— 82% said they respect their franchisor
— Average annual income of food franchise owners is $118,397 for those in business at least two years (down 3% from 2019 pre-pandemic levels)
— 47% own multiple locations (“units”) and 46% indicate that they are planning to purchase additional units
The award-winning franchise companies on this year’s Top Food Franchises list represent a vast array of food and beverage brand segments, as well as a wide range of investment levels – including a number of businesses you can start with an initial investment (cash required) under $25,000. The list includes fast food/quick service, fast casual, , and full-service restaurants, , as well as mobile and retail food concepts and coffee shops.
“Despite everything we’ve gone through this past year, franchising remains a great opportunity for entrepreneurs to explore in 2021, but it does require due diligence by potential investors to select the brands that are the right fit for them and have the best chance to succeed,” Stites said. “That’s why we do what we do. Franchise Business Review’s independent research helps prospective small business owners understand which franchises are the top opportunities—based on the actual experiences and satisfaction of other franchise owners.”
About Franchise Business Review
Franchise Business Review (FBR) is a leading market research firm serving the franchise sector. FBR measures the satisfaction and engagement of franchisees and publishes various guides and reports for entrepreneurs considering an investment in a franchise business. Since 2005, FBR has surveyed hundreds of thousands of franchise owners and over 1,100 leading franchise companies. FBR publishes free and unbiased franchisee satisfaction research reports throughout the year online at http://www.FranchiseBusinessReview.com. To read our publications, visit https://franchisebusinessreview.com/page/publications/.
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