E05: Franchisee Satisfaction & Culture! With FBR
Hosts: Michael Hyam and Liane Caruso
Guest: Michelle Rowan, President and COO of Franchise Business Review, and Courtney Stillings, VP of Growth at Franchise Business Review
This episode highlights the critical role of workplace culture and employee satisfaction in retaining top talent and improving franchisee satisfaction.
The conversation covers trends in the franchise industry, such as interest rates, search volume, and competition leads, and discusses the benefits of franchising, including earning CFE credits and scholarships.
The speakers emphasize the importance of gathering feedback from franchisees to understand their perspectives and aligning development and operations teams for responsible franchising practices.
Podcast Summary: “The Importance of Workplace Culture and Franchisee Satisfaction in Franchising”
KEY TOPICS DISCUSSED
Workplace Culture and Employee Satisfaction
Prioritizing Culture: Franchisors must focus on workplace culture and franchisee satisfaction to ensure overall franchise health and success.
Employee Engagement: The use of employee engagement surveys to benchmark internally and improve retention by understanding different generations’ needs and fostering better relationships.
Franchise Industry Trends
Search Patterns and Competition: Trends in interest rates, search volumes, and competition leads in the franchise industry.
Benefits of Franchising: Opportunities to earn CPE credits and scholarships, and programs for aspiring entrepreneurs, such as boot camps.
Franchisee Feedback and Validation
Gathering Insights: The importance of collecting feedback from franchisees to inform decisions and improve brand reputation.
Transparency and Alignment: Validating franchisees’ experiences and perspectives to align with the brand’s core values and ensure successful franchisor-franchisee relationships.
Employee Surveys and Legal Compliance
Benchmarking and Transparency: Conducting employee surveys to gain insights, attract top talent, and showcase transparency and validation.
Legal Requirements: Understanding FTC guidelines and the Franchise Disclosure Document (FDD) that must be provided to every franchise candidate in the US.
Responsible Franchising Practices
Operations Alignment: Aligning development, marketing, and operations teams to prioritize franchisee success and improve franchise operations through technology and collaboration.
Supplier Collaboration: Embracing supplier thought leadership and collaborating on best practices to enhance franchisee operations and marketing alignment.
Action Items:
Industry Report:
Look out for the Franchise Business Review’s upcoming industry report highlighting franchisee satisfaction award winners and trends.
Event Attendance:
Attend the FBR Operations Summit in Denver from October 22-24 to learn about best practices.
Employee Engagement:
Consider using FBR’s employee engagement surveys to benchmark internally and improve retention.
Interested in listening to the podcast episode? Tune in on Spotify!
