The Importance of Franchise Satisfaction when Shopping for a Travel Franchise
When shopping for a home-based travel franchise it is very important to perform due diligence and research every imaginable angle of the company you are interested in, from doing a side-by-side analysis of Franchise Disclosure Documents to interviewing past and current franchise owners and participating in a Franchise Discovery Day. In addition to these methods, franchise satisfaction surveys also provide valuable insight and are telling to a company’s success, credibility and stability because the feedback is provided anonymously by franchise owners.
The Franchise Research Institute and Franchise Business Review are two of the most prestigious franchise research organizations, and CruiseOne franchise owners rate their experiences with CruiseOne by participating in both companies’ annual franchise satisfaction surveys. In 2013, CruiseOne received stellar reviews from its travel franchise owners.
Franchise Research Institute
The Franchise Research Institute was established to study and promote high standards of excellence in the franchising industry. Using a rating system, participants rated their relationship with the franchisor, training and support received, camaraderie with other owners, growth potential, would they purchase this franchise again and much more. Based on the survey results, for the third year in a row CruiseOne has been recognized as the only “World Class Franchise” in the travel industry by the Franchise Research Institute, with nearly 70 percent of our network participating in the survey.
Franchise Business Review
Franchise Business Review, the leading market research company in the franchise industry, measured corporate support, franchise system, leadership, core values, franchise community, self-evaluation, financial opportunity and general satisfaction in its annual satisfaction surveys. The results found that CruiseOne franchise owners exceeded the industry standards set by the travel and hospitality index.
Companies with strong satisfaction reviews also tend to have higher retention rates, which is another factor to consider when selecting a home-based travel franchise. CruiseOne has an industry leading 93 percent retention rate among its franchise owners.
There are many options when selecting a home-based travel franchise and many variables to consider. However, one of the best ways to learn the inside scoop of a franchisor and determine if it is right for you is to consider their franchise satisfaction results and speak to current franchise owners.